With the state losing at least $350 million in revenue annually from the now essentially defunct Seminole Compact, a willing governor and an upcoming state session all the pieces are in place for something to change. That is of course on back of the Supreme Court’s recent decision which opened the door wide for the opportunity at sports betting across the country. State Senator Jeff Brandes is the first to put a proposed policy in front of the state to consider. So, what’s in it?
The details for the operators are:
- Licensed from the department regulating the Florida Lottery currently.
- Licenses would cost operators $100,000.
- Proceeds would be split 50/50 with the state.
As for gamblers, they must be 21 years old, they would have to place wagers through state-sanctioned operators and online and kiosks options would be available.
What’s next? A lot. First, no one has sponsored it in the Florida House. Meaning that until and unless we get proposed companion legislation introduced there’s nothing that even passage in the Senate would achieve. Also, lots of questions about how this would work with the Seminole Compact to the extent either side is still honoring it. The potential is huge, however, this one has a feeling of inevitability to it.
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