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Last month ended a streak of four consecutive months with decline in sports betting handle. The total sports betting handle last month was $80,037,045, up 2.2% from $78.3 million in July.
California Ballot Referendum: California, the most populous state, has legalized sports betting on its ballot this Election Day. Kantar/CMAG reports ad spending has already exceeded $300 million. When compared to previous ballot measures, Steve Passwaiter, a Senior Advisor to Kantar/CMAG notes, “It’s clearly set a new record, the spending to date has beaten totals for the 2020 measure [Proposition 22] on gig workers.” Additionally, to date, the California propositions has easily surpassed the ad dollars spent in any statewide political election this year (the Senate race in Pennsylvania being the second most costly). Alaska also has a ballot referendum on sports betting in November.
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