The sports business landscape in Los Angeles is on the brink of a potential transformation, driven by ongoing debates surrounding legalizing gambling in California. As the state stands as the largest untapped market for sports wagering in the U.S., anticipation grows about how such a shift could reshape spending habits and the valuations of flagship franchises like the Los Angeles Dodgers and the Los Angeles Lakers.
The Potential Impact of Legalized Gambling in California
Legalized gambling, particularly the embrace of sports betting, would bring immediate and significant financial change to teams and the broader sports economy in California. Industry precedents from other regions, including Ontario, Canada, highlight the scale of this opportunity. For example, after Ontario launched its regulated online gambling and sports betting sector, the province saw $63.3 billion wagered and $2.2 billion in total gaming revenue in its second year. These growth figures soared well above initial expectations. The sector created an estimated 15,000 jobs and generated $2.7 billion in GDP, and the introduction of competition and robust regulation persuaded even the most skeptical observers of its economic potential.
Sports franchises, like the Lakers and Dodgers, stand to benefit from several new revenue streams if California opens up to similar models. Online and in-person betting would encourage higher fan engagement, new partnerships with national and international sportsbooks, and heightened interest at the stadium and in digital spaces. As seen in Ontario, the arrival of online casino Ontario platforms dramatically boosted viewership, sponsorship value, and overall financial inflows to sports and related sectors.
The Current Valuation of the Los Angeles Dodgers
The Dodgers are widely viewed as one of the premier franchises in global sports, with their valuation estimated to be between $5.8 billion and $7.73 billion in 2025. This remarkable growth comes over a decade after Guggenheim Baseball Management purchased the team for $2 billion in 2012. The acquisition was a signal of changing tides in franchise value, spurred by lucrative TV deals, a thriving local fan base, and substantial international growth.
These numbers are driven by consistent high attendance at Dodger Stadium, a succession of division titles and World Series victories, and the team’s bold moves in the player market—such as the historic Shohei Ohtani contract—which have only intensified global fan interest and revenue from merchandise, ticket sales, and media rights.
The Purchase and Valuation of the Los Angeles Lakers
In a landmark deal announced in June 2025, Mark Walter, who leads the Dodgers’ ownership group, agreed to acquire a majority stake in the Los Angeles Lakers at a stunning $10 billion valuation. This purchase outpaces all previous sports franchise deals globally. The Lakers, under the storied stewardship of the Buss family—who will continue to be represented by Jeanie Buss even after the sale—are one of basketball’s most prestigious and globally recognized brands.
The pending deal signals a strategic merging of Los Angeles’s two iconic teams under visionary leadership, setting the stage for shared innovation and expanded business potential.
How Legalization Could Accelerate Franchise Growth
Should sports gambling be legalized in California, the Dodgers and the Lakers are positioned to experience another wave of valuation growth. Drawing on the Ontario example, operators helped dramatically expand the legalized market. California’s sheer size and market diversity suggest that increased direct-to-consumer engagement, greater sponsorships, and more valuable media rights are inevitable outcomes. Historical data highlights that when sports betting becomes legal, fan time spent watching games rises, as does overall money wagered.
Teams would likely integrate real-time betting features into stadium experiences and mobile apps, amplifying fan enjoyment and franchise profitability. These mechanisms, already pioneered in markets like Ontario, have enhanced brand value for sports organizations by making every pitch or basket a potential point of interaction and commerce. For global brands with substantial digital reach, like the Dodgers and Lakers, this could enable worldwide fan monetization in cutting-edge ways.
However, broader implementation would require thoughtful regulatory frameworks around security, fair play, consumer protection, and advertising, as Ontario has shown with its regulated approach. While debates remain around balancing economic opportunity with responsible gaming, the outlook is clear: legalization would likely unlock new heights for California’s marquee franchises.
Looking Ahead
As California contemplates following in the footsteps of jurisdictions like Ontario, the intersection of sports, business, and gaming holds unprecedented potential. The story of the Dodgers and Lakers, already rich in achievement and innovation, may soon enter a new era—one where the legal landscape reshapes what it means to be the centerpiece of Los Angeles sports. The scale of opportunity and implementation challenges will drive the next chapter, watched closely by fans, stakeholders, and industry leaders.
