Florida sports betting and the Seminole Compact – Part 2

Florida sports betting and the Seminole Compact – Part 2

Bottom Line: On Friday Governor Ron DeSantis, who’s in favor of enabling sports gambling in Florida, met with leadership from the Seminole tribe to attempt to negotiate an amended compact that allows for sports gambling in Florida. While the governor’s office declined to comment on Friday,here’s the framework that’s believed to have been proposed:

  • Florida votes to repeal the ban on sports betting
  • Seminole's obtain the right for sports betting at their facilities
  • Sports betting is also enabled at all existing racetracks statewide
  • Prop bets are allowed at sports venues statewide
  • Seminoles get a ten-year extension on their current compact on all other protections/exclusivity 

There’s a lot for everyone in this deal if it were to move forward. The race tracks that are losing greyhound racing would gain sports betting in addition to the casinos. Prop bets coming to stadiums would doubtless be a huge boon for attendance and revenue at games and the Seminoles gaining ten-years on non-sports betting protections for not having exclusivity on sports betting. But here’s the thing.Actually, two things. 1. The tribe would have to agree 2. The state would have to pass it

The tribe described the talks as cordial – which suggests there’s a chance they’d get on board, but that’s still unclear. But the state session ending in a week is a real challenge. Based on these two things – here's what I suspect will be the case. This year to lay the ground work and getting everyone on board. Next year for votes that might make it happen. 

If everything were to break just right – it could happen starting in July of 2020. More to come...



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