Category
🥇
SportsTranscript
00:00All right, now let's head to California, where sports betting is still not legal and probably not going to be legal anytime soon. So the only action I guess that's out there for people playing sports is prize picks, you know, these sort of different ways that you can play in the daily fantasy space. And Sam, a new partnership with a ballpark in the interim while they wait for sports betting to become legalized.
00:20Yeah, California has been the largest daily fantasy sports market for a reason, Craig, like you mentioned, they don't have sports betting, but they do have these products that look very similar in some cases to sports betting on prize picks, companies like Underdog and Sleeper, which essentially they look like parlays and their player prop focused, but California hasn't taken any action against them.
00:40So now prospects is expanding their presence in the in the state, they just added two partnerships with MLB teams in the San Francisco Giants, and the San Diego San Diego Padres, which will allow them to have more signage at the stadium, sign up offers, you know, throughout on commercials for the team. So interesting to see that they're ramping up their presence there and investing more in the marketing side of things, while sports betting remains illegal. And while we're still waiting on an opinion from the Attorney General in the state, who had been asked to
01:10about two years ago now, to decide whether or not fantasy sports is indeed legal in the state, it's one of those gray areas where the state just hasn't taken any enforcement against it. The tribes in the state certainly say that they think it is sports betting and they want it to be kind of taken down or taken action against. But meanwhile, the you know, the state has really done nothing. And I think it's telling that prospects here is investing more and more in the state while we wait for this opinion, that at this point might come after sports betting eventually gets legalized. We certainly know California is
01:40California has a lot more else on their plate right now than just deciding fantasy sports. But for the industry, it's a big, big thing because California is the crown jewel of the market. So we'll see if price picks tries to expand the presence even more. It comes as tribes and sports books are renegotiating an agreement to potentially get sports betting on the ballot in 2028. But again, very far away, very far from happening. So in the meantime, these fantasy sports companies like price picks underdog and whoever else, I'm sure they are happy.
02:10to have it kind of just be status quo and keep on investing in marketing to the state.