Florida Seminole Tribe Receives Federal Approval for Sports Betting
The federal Department of the Interior did not make a ruling on the Florida gaming compact, giving clearance to the Seminole tribe to offer sports betting. The verdict was questionable because the gaming compact virtually provides the Seminoles with a betting monopoly, but the federal department did not make a decision.
The Department of the Interior’s lack of acknowledgment within the 45-day approval window automatically makes the compact valid. Following the announcement, sports betting is expected to launch on October 15, and the compact will be valid for 30 years.
Seminole Tribe Receives Sports Betting
There are still opportunities for a federal court to intervene because operators throughout the United States are disputing the compact. However, if no disputes are considered, Florida will become the largest sports betting state in America.
The compact was a significant victory for Governor Ron DeSantis because Florida will receive a considerable amount of money. The contract gave the tribe a betting monopoly, but it will benefit lawmakers who will have additional revenue to create policy.
DeSantis created the deal with the tribe, and it guarantees the state $2.5 billion over the next five years. Sports betting would not be legal in Florida without the governor because it appeared like the tribe did not want to cooperate. DeSantis met their demands and found a way to drastically help his state.
The compact will give the Seminole Tribe the addition of craps and roulette at its casinos. The state will receive $500 million in revenue payments over five years. This money is guaranteed even if online sports betting is eliminated by a federal court.
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Florida sports betting will be limited to people over 21 years of age. It will include wagers on all sporting events, including in-state college athletic programs. However, prop bets are prohibited on amateur athletic events.
The Department of the Interior’s Ruling
The Department of the Interior did not make a ruling on the compact. The group was divided, and they detailed this in their letter to the Seminole tribe, authorizing sports betting throughout the nation.
A portion of the letter stated, “The Compact authorizes the Tribe to continue to conduct class III gaming on its lands and expands the allowable scope of gaming to include mobile sports betting, amongst other games. The Tribe may conduct and operate sportsbooks to offer sports betting on professional and collegiate sports events through mobile or electronic devices by patrons physically located within the State.”
Sports betting will be exclusive to the tribe because it does not permit third-party operators to join the fold. This is going to give the Seminole Tribe ungodly sums of money, but operators are not pleased.
Florida had the potential to be lucrative for multiple betting operators, but these groups have seemed to lose fighting the compact. The first lawsuit against the compact was filed by Miami’s Magic City Casino and the Bonita Springs Poker Room on July 2. Nevertheless, the Department of the Interior’s ruling takes the momentum out of every federal lawsuit.