Florida Sports Betting Closer to Reality As Governor, Seminole Sign New Compact

Spread the Word:

Florida sports betting is close to the finishing lines following a successful deal between the state governor and the gaming tribe. On Friday, Gov. Ron DeSantis and the Seminole Tribe signed a new gaming compact in a move that could bring mobile betting to the state.

However, the new compact requires legislative approval in the Sunshine State and that of the federal government. Though the new gaming compact may face legal challenges, it marks a significant breakthrough for the third-most-populous state in the US.

In a vague statement, Senate President Wilton Simpson’s office also confirmed statewide online and retail sports betting “in partnership with the pari-mutuels” is included.

Key Details of New Florida Gaming Compact

The 75-page compact includes the new 30-year term and covers sports betting, daily fantasy, and the addition of craps and roulette to tribal casinos. It also sets the legal age at 21 and details the workable arrangement between the Seminoles and the pari-mutuels for sports betting.

The pact allows betting on all professional, college, and Olympic sports, with the notable exception of prop bets on college sports. Problem gambling guidelines are also included in the new document.

The new gaming compact also includes additional facilities on the Seminole tribe’s Hollywood reservation, and statewide mobile sports betting in partnership with the pari-mutuels.

Seminole’s Exclusivity Over Florida Sports Betting

Under the agreement, the tribe would have exclusive control over sports betting, which the Seminoles could offer at its own casinos, and through pari-mutuels and its platform, Hard Rock Digital.

It is unclear how many mobile sportsbooks will be allowed in Florida, or what would be the tax rate on sports betting revenue. The state’s 35 pari-mutuel operators could be allowed to operate mobile sports betting. But they would have to share 55% of the revenue to the Seminoles, and the serves would be located on tribal lands.

In-person sports betting would also be allowed at other sporting venues, including professional arenas and stadiums.

What’s Next?

The new compact now heads to the state legislature, where Florida lawmakers must approve it in a special session the week of May 17. Then the federal government’s Interior Bureau of Indian Affairs requires to approve the document and post it to the Federal Register.

DeSantis said in a statement that this historic compact expands economic opportunity and bolsters the fiscal success of the state by benefiting all Floridians and Seminoles alike.

“Our agreement establishes the framework to generate billions in untapped revenue and untold waves of positive economic impact.”

With nearly 21.5 million people, Florida would be the largest state with regulated sports betting. New York, with about 19.45 million residents is currently working to kick off its mobile sports betting market. California and Texas have higher populations, but both states lag in the process of legalization.

Senate President Wilton Simpson said that the compact would maximize revenue for the Sunshine State, creating a $2.5 billion revenue-sharing guarantee in the first five years.

The new compact could face legal challenges because a 2018 constitutional amendment in the state requires statewide voter approval to expand gambling.

However, the deal is likely to generate nearly $500 million in annual revenues from the tribe, up from $350 million or so for the same period that the Seminoles had been paying to the state under the previous deal until the tribe refused to pay following a dispute with the state.

About the Seminole Tribe

The Seminoles own and operate seven casinos across Florida, some of them under the Hard Rock banner. By signing the new pact, the tribe will reinstate gaming payments to Florida State, which they suspended in 2019 after the Seminoles said the state violated the existing pact by allowing card games at commercial card rooms.

 At the time, the Seminoles were paying $350 million in annual payments. But with the addition of sports betting and some other games, the tribe’s annual payments to the state could swell to $600 million.

In March, it was first known that negotiations between DeSantis and the Seminoles are taking definite shape. On Thursday, it became clear that the renegotiated deal would be signed Friday.

Related News

Philadelphia 76ers basketball team
December 30, 2020

BetMGM and Philadelphia 76ers Sign Sports Betting Deal

The Philadelphia 76ers have announced a partnership with BetMGM following the company’s recent mobile launch in Pennsylvania. Under the partnership, the sports betting and digital gaming company will serve as […]

read more
MD state capitol
March 18, 2022

Maryland Sports Betting, A Step Closer to Mobile Launch

Months after the retail launch, Maryland sports betting has taken a key step to launch mobile sports betting in the state. On Thursday, the Maryland Sports Wagering Application Review Commission […]

read more
Maine sports betting
June 21, 2021

Will Maine Governor Sign Sports Betting Bill This Time?

Maine Legislature has finally approved a sports betting bill disowned by its own sponsor and rejected earlier by the governor. On Friday, Gov. Janet Mills received LD 1352, which the […]

read more
Detroit, Michigan
September 11, 2020

Michigan Online Gambling, A Step Closer With Sept. 23 Hearing

Michigan is a step closer to legalizing online gambling as it has scheduled a public consultation to solicit feedback on the latest draft. The Michigan Gaming Control (MGCB) will oversee […]

read more
South Dakota landscape
July 22, 2021

South Dakota Sports Betting Appears a Reality After Final Rule Approval

South Dakota sports betting seems to be a reality this fall after the state’s Commission on Gaming approved detailed sports betting regulations last Wednesday. The state’s lawmakers will now review […]

read more
National Hockey League players
February 20, 2021

Bally’s and NHL Sign Sports Betting Partnership Deal

Bally’s Corporation announced Thursday a multi-year deal that will make it the National Hockey League (NHL) official sports betting partner. It is Bally’s first sports betting engagement with a professional […]

read more
Arizona
May 27, 2021

Arizona Sports Betting Compact Gets Federal Approval

Arizona sports betting cleared all phases to the finishing line on Monday when the Department of the Interior approved the new tribal gaming compact. The amended tribal-state gaming deal, which […]

read more
Florida Governor Desantis signs sports betting bill
August 9, 2021

Florida, Seminole Tribe Gets Federal Approval for Sports Betting

The Federal authority on Friday allowed the gaming compact between the State of Florida and the Seminole Tribe, paving the way for the sports betting launch by Oct. 15. Unless […]

read more
August 23, 2020

BetMGM and NASCAR Sign Multi-Year Sports Betting Deal

BetMGM and NASCAR have recently announced multi-year sports betting partnership deal, offering enhanced features like in-racing betting options for racing fans. The goal is not merely to enhance the handle […]

read more
Detroit Tigers
July 21, 2020

PointsBet and Detroit Tigers Sign a Ground Breaking Deal

The Detroit Tigers have made history by entering into a multi-year sports betting partnership deal with the gaming operator, PointsBet. As a gaming operator, PointsBet is a flourishing sports betting […]

read more
Hard Rock Casino Florida
May 22, 2021

Online Casinos Banned From Florida Gaming Compact

Florida lawmakers have excluded online casino gaming during a special session on Monday to approve an expansion of gambling in the state. The elimination of the key source of revenue […]

read more
Seattle Washington skyline at night
June 16, 2021

Washington Sports Betting A Step Closer After Tribal Compacts

Washington sports betting took a crucial step on Thursday when the State Gambling Commission approved renegotiated compacts with 15 tribes. The proposed amendments – that will co-regulate sports betting on […]

read more

Stay Updated & Receive Exclusive Offers

Be the first to know when new states legalize online gambling and gain access to exclusive casino and sports betting promotional offers.