00:00Okay. So, you know, California, Sam, this summer seems to be the biggest proponent of just banning everything, you know, like no sports betting. We knew that. Daily fantasy, you got to go. Sweepstakes, you get out of town too. What is going on with this state? I mean, do they just, they want no betting, daily fantasy, sweepstakes? Is there, is there got to be a money thing involved, right? Do they just feel they're not getting enough money from these companies?
00:26Yeah, it always comes down to money, Craig. And to answer your question, what's going on? They don't want sports betting in their state. California has not legalized sports betting famously. They've tried to for a couple years and have been met with fierce opposition from the tribal gaming groups, which hold exclusivity over most forms of gaming in the state.
00:47They've been extremely opposed to kind of cutting themselves out of anything and allowing other companies to persist. So then you have these other forms of fantasy sports, sweepstakes, all these other things out there that pretty much the tribes look like betting, talk like betting, but don't give them any revenue and any revenue to the state.
01:06So there was the bill that was passed this week, which would explicitly ban the sweepstake style casino games. These of course are the games that, you know, avoid licensing and oversight and taxes as sports betting by allowing you to kind of use some loophole to, to play.
01:22But for many tribes are seeing it as, you know, an affront on their rights to offer sports betting. It just got passed in one committee heading to another next week. I would imagine it gets passed before the end of the year. And then you really only have illegal options in California. So that's a whole nother story.
