Legal Status
Sports betting is not yet legal in the state of Florida.
Legislative Progress
Florida Governor Ron DeSantis renegotiated a new gambling compact with the state’s Seminole tribe, which the legislature approved in a special session in May. The compact has yet to gain Federal approval from the Department of the Interior, however, once it does, the state can begin figuring out the rules and regulations for the industry.
However, the compact is far from a lock to gain approval. Several questions have arisen as to the legality of the agreement. Should those in opposition decide to sue, the process could be slowed down tremendously.
A decision by the Department of the Interior is supposed to come within 45 days after submission. If the department does not make a decision within the 45-day window, the compact will be deemed ‘approved.’
Casino Participation
The Seminole tribe operates the state’s casinos and will be in charge of sports betting operations in the state (according to the compact). The tribe currently operates seven casinos in Florida, but through the compact, can open three additional ones on existing tribal property.
Role of the Lottery
Florida does have a lottery, but it will not be involved with the sports betting industry. A past bill suggested the Florida Lottery be in charge of regulating the industry, but a Gaming Control Commission is supposed to be established for that purpose.
Professional Sports Team Involvement
Florida’s many professional sports teams will not be directly involved in the sports betting industry and all sports betting activity will run through the Seminole tribe. However, there has been speculation that retail sports betting could be allowed at professional sports venues.
Licensing
With the status of sports betting still up in the air, there has yet to be much talk on how the licensing process will work. It remains to be seen if the state will take an open market approach, go with a single operator, or with a limited number of operators.
Annual license fees and associated calculation of tax on sportsbook revenue are still to be determined.
Expected Live Date
With the strong likelihood of lawsuits from the opposition concerning the legality of the compact, it is hard to say when sports betting could go live in Florida. Depending on any possible legal action and federal approval, sports betting could launch early in 2022.
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