Sports betting in Florida – Follow-up from Senator Jeff Brandes
Bottom Line: Here’s a quick recap of what I recently broke down for you based on the sports betting bill introduced in Florida’s senate by Jeff Brandes.
Here are details for operators...
- Licensed from the department regulating the Florida Lottery currently
- Licenses would cost operators $100,000
- Proceeds would be split 50/50 with the state
And for gamblers...
- Must be 21
- Would have to place wagers through state sanctioned operators
- Online and kiosk options would be available
The update based on the conversation with Jeff is this. It’s clear that he wrote this to fall outside of the legal confides of the Seminole Compact. That’s why it’s set to be regulated by the Florida Lottery if enacted as written. That’s relevant for two reasons. First, it’s doable by a simple passage in the state legislature and without having to wait until 2030 unless the Seminole’s were to cut a deal. Second, you’ve got to imagine it will want to make the Seminole’s come to the table to attempt to strike a deal. No entity would stand to lose more with sports betting in Florida than the Seminole’s which maintain a near monopoly on gaming in the state aside from the lottery. This legislation, whether passed as currently constructed or not is without a doubt a catalyst for action. I’ll keep you posted.