California is the largest state in the US, and also represents the country’s largest betting and gaming market, according to Richard Schuetz, owner of Schuetz LLC.

Appearing at the SBC Summit North America in at the Meadowlands Exposition Centre, New Jersey, Schuetz spoke to SBC Media’s Erin Gallagher about Californian betting developments.

“A lot of people are running around right now arguing that they know a lot about California, and I think what they’re background is is that they visited Disneyland once. I was appointed twice by the Governor as the Commissioner in California,” Schuetz stated.

“I was the Consultant to the Governor’s Office on iGaming and I was Consultant to the Senate on iGaming. I also have a great deal of familiarity with the Tribal environment.

“A lot of people don’t seem to understand that California is the largest gaming state in the US. A lot of people would argue that it is Nevada – but it’s not, and that’s across all verticals, like lottery, horse racing, card rooms and tribal casinos. 

“Right now it looks like there could be as many as four ballot initiatives next November about gambling – many are conflicting, and it’s estimated that up to $200 million is going to be spent on that effort. It’s a very complicated story.”

Continuing, Schuetz pointed out that California’s population and economy represent a huge market opportunity for the US betting and gaming industry.

With a population of nearly 40 million, the state has the fifth highest GDP in the world – a bigger GDP than both the UK and India – and attracts around 220 million visitors annually.

Should legal sports betting expand into The Golden State, Schuetz asserted ‘anything up to that point in time is going to be dwarfed by California, if it goes legal.”

To register for view panels and keynote speeches from the SBC Summit North America, click here

SBC North America: Richard Schuetz on how markets could be ‘dwarfed’ by California