Sports Betting Battle in Florida Intensifies

With a population of nearly 21 million people, it's understandable why so many people and groups are interested in being part of Florida's sports betting community. As of right now, there is only one group in the community, that being the Seminole Indian Tribe.

Based on an agreement and new compact worked out with Florida Governor Ron DeSantis earlier this year, the Tribe has what amounts to a monopoly on providing sports betting services within the state. The cost of that monopoly is an annual "revenue fee" of $500 million to be paid to the state.

Because of this agreement, lots of gambling interests were shut out of the opportunity to open retail and online sportsbooks. That isn't sitting well with racetracks, poker rooms, and casinos currently operating within the state's boundaries. Even top Online bookmakers like FanDuel, DraftKings, and Caesars are joined in the battle to get a piece of the Florida sports betting pie.

The Battle Ensues

Technically, the Seminole Tribe could have started taking sports bets on October 15, 2021, through the Tribe's Hard Rock Digital brand. That first bet has not yet been accepted due in large part to some ongoing litigation that will settle the issue of the Tribe's sports betting monopoly once and for all.

On one side of the line is the Seminole Tribe, which seems to hold all the cards. They are fighting this battle by funding marketing efforts that are designed to convince Floridians to ignore the other side's efforts to get a ballot initiative on the docket for next year's election.

That ballet initiative involves an eclectic group that seems to be coming from all directions. The constitutional amendment initiative was proposed by a group called Florida Voters in Charge. The group has gotten support in the form of a $17 million donation in June from Las Vegas Sands Corp. Las Vegas Sands? Yes, that group has been trying to get access to open card rooms and casinos in the state for years. Standing in the way is the Seminole Tribe, which also controls most of the state's retail casino gambling.

Another key proponent of the initiative is Florida Education Champions with the support of the aforementioned Fanduel and DraftKings. Combined, the bookmakers have contributed an estimated $10 million to the cause. The title of this ballot initiative reads as follows: "Authorizes sports and event betting; if betting revenues are taxed, taxes must supplement public education."

For the most part, this initiative seeks the approval of Floridians for the state to legalize sports betting in the state's professional sports venues and pari-mutuel facilities. This would be a law similar to what is in place in Washington D.C. and Arizona.

There is a federal litigation hearing related to this matter scheduled for November 5, 2021. Experts are assuming the Seminole Tribe has decided to hold back the start of sports betting at the Tribe's Hardrock casino until the outcome of this hearing sets forth the next move o interested parties.