The state of Florida and the Seminole Trible of Florida finally agreed on a thirty-year deal that will modernize the state’s gambling industry. The signing of the compact deal was confirmed by the state’s Governor Ron DeSantis and in one of his official statements, he said that this is a historic deal that will finally establish the powerful framework for the state to generate new revenues and bring very positive economic impacts.
The Sunshine State Approved Sports Betting
During the third day of legislation sessions, the Florida House passed the new bill that expands the gaming industry in the state by a 97-17 vote. The Senate also approved the bill shortly after by a 39-1 vote. With the final approval coming from the Senate and the Florida House, The Seminole Tribe of Florida was given the green light to legally offer sports betting activities to the state’s residents.
According to the deal, the state will get over $2.5 billion in the five following years and over $20 billion in the next thirty years. The Seminole Tribe of Florida would offer sports betting activities alongside receiving a couple of other benefits including being legally allowed to expand its casinos’ gaming floors with roulette and craps games.
In his statement, DeSantis also thanked Marcellus Osceola Jr. who is the Chairman of Seminole Trible of Florida, Wilton Simpson Senate President, and Chris Sprowls Florida House Speaker for their commitment to expanding and modernizing the state’s gaming industry.
The Chairman of Seminole Tribe of Florida also commented. In his official statement, he said that the Seminole Tribe of Florida is sincerely thankful to Mr. Sprowls, the state’s Governor, and Mr. Simpson who have worked tirelessly to conclude a historic deal between the state and the Seminole Tribe of Florida.
Following the footsteps of New Jersey online casinos and other US online casinos, Florida will offer more gambling opportunities to its residents even though some legal challenges will emerge. According to the compact deal’s terms and conditions, the Seminole Tribe of Florida can offer sports betting activities within the state’s borders. The agreement also includes pari-mutuel betting protections while the legalization of sports betting will create over two thousand new jobs.
The Historic Gambling Expansion
If the compact is approved by the United States Department of the Interior, which is responsible for governing tribal gaming operations, the Seminole Tribe of Florida can start offering sports betting activities on the 15th of October.
In this case, the Seminoles can also start offering sports betting activities at horse tracks, dog tracks, and jai alai frontons. The deal also allows online sports betting operations conducted by the Seminoles.
At the moment, several gambling activities are legal in the state including:
- Some forms of pari-mutuel gambling (state-licensed cardrooms and horse racing)
- Tribal land-based casino gambling
- Lotteries that are run by the state
- Interstate games including Powerball
- Inter-track and off-track horse racing (onsite bets)
- Slot machines at tribal land-based casinos
The state’s original agreement with the Seminole Tribe of Florida gave the federally recognized tribe rights to offer blackjack and slot games at its land-based casinos. The new, historic compact will not only modernize the state’s gaming industry not only through the sports betting authorization but also bring a massive stream of revenues worth billions of dollars.
If everything goes as planned including the compact being approved by the US federal regulators, Florida residents will soon be able to place their very first sports bets.