- Florida should be one of the biggest markets in the US
- Terms of deal is still very private
- Still waiting to hear if sports betting legalization will be part of this
Sports betting is a normality in the United States. The form of gambling has gained traction since the Supreme Court Professional and Amateur Sports throughout the country. The southern portion of America has been slower to roll out sports betting bills.
Nevertheless, southern states have started to pass legislation and implement retail as well as online sportsbooks. Florida, which has the potential to host a massive sports betting market, recently took a step towards legal wagering.
The Seminole Tribe and Governor Ron DeSantis have agreed to a new deal that could bring sports wagering to the state. The agreement was reached this week, but it’s no guarantee that sports betting will be enacted in Florida.
The Agreement Between DeSantis and the Seminole Tribe
There have not been many details regarding the agreement. Seminole Tribe Chairman Marcellus Osceola Jr. called it a
“historic agreement that cements our partnership with the state for decades to come.”
The arrangement between DeSantis and the Seminole Tribe has remained relatively confidential. The legislature will review the rhetoric this week to determine if sports betting will be legalized.
The truce between the Seminole Tribe and Governor DeSantis is no guarantee that sports wagering will be legalized, especially with time ticking away in Florida’s 2021 legislative session.
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 2021 Legislative Session
The Florida legislature will have to pass a sports betting bill that complies with the promises made to the Seminole Tribe. It’s hard for legislatures to pass bills within a year-long legislative session.
The Senators and Representatives in Florida will not have this luxury. The period ends on April 30th, so a bill must be written and agreed to for sports betting to be established by the beginning of football season.
Senate President Wilton Simpson and House Speaker Chris Sprowls seemed determined to get a deal done, and they already have contingency plans in place if the legislative deadline becomes unrealistic.
Once the new compact is signed by Governor DeSantis, Sprowls said a bill would be completed. If the chamber leaders need to call a special session to finish the bill, they will not hesitate with this action.
Even though the agreement is made, the legal framework of the compact is still being compiled. This means that legislators are still in limbo because they have not read the exact deal on paper. This is good enough to start a bill, but it’s impossible to pass any legislation without knowing precise details of the treaty between Governor DeSantis and the Seminole Tribe.
Sports Betting Potential
Florida is a land of opportunity for sports betting. The state is heavily populated, and many individuals in the state are retirees who enjoy gambling. Additionally, the state attracts millions of tourists every year because of the attractions in the state like Disney World and Universal Studios.
There have been reports that sports betting and the other deals in the new gaming compact could make Florida rival Nevada’s gaming economy in the future. Sports wagering can bring $2 billion to the Seminole State, so legislatures want to get a deal accomplished as soon as possible.