With the revenue windfall that comes with legalized sports betting, Florida has been trying to get on board. And it looks like legal sports betting could be right around the corner for the Sunshine State.
In late April, Governor Ron DeSantis announced that the state had come to an agreement with the Seminole Tribe of Florida regarding sports betting. Per the agreement, the tribe would pay the state a minimum of $500 million a year for the right to launch and operate sports betting operations in Florida.
“This historic compact expands economic opportunity, tourism, and recreation, and bolsters the fiscal success of our state in one fell swoop for the benefit of all Floridians and Seminoles alike,” DeSantis said when announcing the deal.
And now it looks like the launch date for sports gambling in the state will be Oct. 15.
The state’s deal with the Seminole Tribe passed the 45-day approval period of the U.S. Department of the Interior, which oversees tribal gambling operations.
“The final approval of this historic gaming compact is a big deal for the State of Florida,” DeSantis said in a statement. “This mutually beneficial agreement will grow our economy, expand tourism and recreation and provide billions in new revenue to benefit Floridians.”
Barring any other legal challenges, the agreement allows the Seminole Tribe to begin sports betting on Oct. 15, including online sports betting, at its seven Florida casinos, including the popular Hard Rock casinos in Hollywood and Tampa.
“Today is a great day for the people of Florida, who will benefit not only from a $2.5 billion revenue-sharing guarantee over five years, but also from statewide sports betting and new casino games that will roll out this fall and mean more jobs for Floridians and more money invested in this state,” Marcellus Osceola Jr., chairman of the Seminole Tribe of Florida, said in a release in early August.
Per the deal, anyone 21 years of age or older will be allowed to place bets on sports using a mobile app. There will be no restrictions on college teams, individual performance (some states have restricted prop bets involving college athletes), or the Olympics.
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