- The proposed agreement would allow the Seminole Tribe to offer statewide online sports betting.
- The Florida legislature will discuss sports betting in a special session on May 17.
- If approved, the 30-year compact would also bring Craps and Roulette to Florida’s tribal casinos.
TALLAHASSEE, Fla. – Sports betting might be the latest addition to Florida’s online gambling menu as Governor Ron DeSantis has reached an agreement with the Seminole Tribe of Florida.
The tribes reaching a deal with the state of Florida clears the first hurdle to expand Florida’s burgeoning gambling market. The deal would bring in-person and online sports betting to the Sunshine State which could potentially bring billions in revenue to Florida.
It is estimated that the Florida sports betting market will surpass the $1 billion threshold and by 2030 will have brought in over $6 million in revenue for the state.
I’m excited to announce the signing of a new compact between the State of Florida and the Seminole Tribe of Florida, which will generate the state $2.5 billion in new revenue over the next five years and $6 billion through 2030. https://t.co/6za6I0TmFz pic.twitter.com/uLV1YmsRkl— Ron DeSantis (@GovRonDeSantis) April 23, 2021
The new 30-year gambling compact must be approved by Florida lawmakers and is the first step in what could be a lengthy political process. Not only will legislatures in Florida have to approve but the federal government will also have to give the green light.
Florida legislatures will have a special session on May 17 to review the newly signed compact as changes could be made to the agreement. As it currently stands, the compact would allow mobile and online betting in partnership with pari-mutuels as well as allow casinos in Florida to have craps and roulette games available.
During that session, lawmakers will also likely discuss how many the tax rate and just what kind of bets will be allowed.
There are also two Senate Bills in regards to sports betting that will likely be the topic of conversation at the May 17 session in SB 7076 which would establish a Gaming Commission in Florida and SB 7080 would allow different licenses to be given out.
BREAKING: From the House Floor, Speaker @ChrisSprowls announces a Special Session agreement with President @WiltonSimpson for the week of May 17 to review and ratify the Compact with the Seminole Tribe of Florida signed today by @GovRonDeSantis. #FlaPol #YourHouse #sayfie— FL House Republicans (@FLGOPMajority) April 23, 2021
While many details need to still be hammered out before Floridians can begin to place sports bets, the first major hurdle to doing so has been cleared. The special session shows that Florida lawmakers won’t be dragging their feet in trying to expand USA online gambling options.
With Florida looking to cash in on the benefits of sports betting it shouldn’t be long before the Sunshine State is one of the top 10 markets in terms of sports betting handle in the United States.