- A gaming agreement that includes sports betting between the Seminole Tribe of Florida and Governor Ron DeSantis has been brought to the Florida Legislature.
- The Florida Legislature has already said they will be discussing the approval of the new 2021 Compact in a special session set for May.
- This new deal has solidified a new and better relationship between the Seminole Tribe of Florida and the state as it’s been a rocky one over the past few years.
TALLAHASSEE, Fla. – Florida is one special session away from a regulated sports betting market. On Friday, Governor Ron DeSantis and the Seminole Tribe of Florida agreed on a thirty-year Tribal Gaming Compact that has also mended the state and tribe’s relationship after previous years of problems regarding gaming.
The new 2021 Compact will need to be approved by the Florida Legislature, despite already being approved by the Governor. The Florida Legislature adjourns for 2021 on April 30. However, in a statement issued by the Florida Senate on Friday, a special session will occur during the week of May 17 specifically to approve the new Tribal Gaming Compact and regulate sports betting for the Sunshine State.
What Regulated Sports Betting In Florida Will Look Like
Should the Florida Legislature not get this proposal passed within the next week as it is not expected to, lawmakers say it will be passed in May.
“In order to take effect, the new Compact will need to be ratified by the Legislature. While many of these provisions have been discussed for the last several years, I recognize that with a week left in the Regular Session, we are running short on time. Therefore, in an effort to provide the opportunity for a more thorough vetting of these important issues, Speaker Sprowls and I have agreed to convene in a Special Session the week of May 17, 2021. It is my expectation that the 2021 Regular Session will conclude as scheduled on Friday, April 30,” said Senator Wilton Simpson in a public statement Friday.
The Seminole Tribe of Florida will gain tremendous amounts of new additions to their gaming industry under the new agreement. They will be able to have ten casino sportsbooks as well as mobile sports betting,
They will be also able to have additional retail sports betting locations statewide and receive a 100-mile radius of exclusivity, making it so no other tribe will be able to have a sportsbook within that range of any of their sports betting venues. Additionally, craps and roulette will be added to their casino gaming menu. Online sports betting can be done through parimutuel websites that have been in a steady decline. Any GGR made through these outlets will give the Seminoles a cut of the profits as well as 55% of it to the state.
It’s Gonna Be May
Florida sports betting will become a realization in May. Floridians will be able to begin gambling on sporting events using state-sanctioned sportsbooks by the start of NFL season. While discussions are planned for May, it looks to be more of a formality in having government officials familiarize themselves with the 2021 Compact before passing it. It will then move to the U.S. Secretary of the Interior for approval within 45 days, as is the standard process under the Federal Indian Gaming Regulatory Act.
This new gaming deal will bring $2.5 billion in revenue sharing within the first five years from it going live. There will be $6 billion of new revenue for Florida itself through this contract until at least 2030. Get ready Florida, it looks like this new compact and the newfound relationship between the Seminole Tribe and the state will bring sports betting to the Sunshine State before the end of 2021.
News tags: Federal Indian Gaming Regulatory Act | Florida | Florida Legislature | Florida sports betting | Ron DeSantis. NFL | Seminole Tribe of Florida | U.S. Secretary of the Interior | Wilton Simpson
Christina has been writing for as long as she can remember and does dedicated research on the newly regulated sports betting market. She comes from a family of sports lovers that engage in friendly bets from time to time. During the winter months, you can find Christina baking cookies and beating the entire staff at Mario Kart…the N64 version of course.