Propositions 26 and 27 in California raise $357m
Spending on Prop 26 and 27 have broken the record previously set in 2020 by over $130m.
Groups backed by online gambling companies and tribal casinos have raised $357m on the two measures that would legalize sports betting in the state of California.
This breaks the previous record set in 2020 when Uber, Lyft and DoorDash contributed over $200m two years ago to stop a state law that would treat their drivers as employees.
Since June 30, these groups have raised an average of $16.5m per day, this is more than has been collected so far for three of the state’s seven ballot measures for the entire campaign. Marketing campaigns for these groups have spent nearly $45m on TV and cable production costs as of July 1.
Yankelovich Center for Social Science Research Co-Director Thad Kousser commented: “You aren’t going to be able to watch the evening news, a football game, or a YouTube video without seeing a message on these initiatives.”
In 2022, over $450m has been amassed by committees formed to support and oppose seven measures appearing on Californians’ ballots when they are mailed out in October.
Proposition 27 legalizes online sports betting in the state while Proposition 26 allows sports betting but only in-person at tribal casinos and racetracks.
Five companies specializing in sports betting have donated $25m to support Prop 27. These companies are DraftKings, Fanduel Sportsbook, BetMGM, Penn Interactive Ventures and FBG Enterprises.
A group of tribes and casinos have donated over $100m to one of the committees supporting Prop 26 and opposing Prop 27. The tribes that have donated the most so far are the Federated Indians of Graton Rancheria and the Pechanga Band of Indians.
Those in support of Prop 26 and opposed to Prop 27 believe the passage of Prop 26 will generate revenue for the state of California, including homeless initiatives and native tribes.
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