Future Implications in Regards to Sports Betting in Florida
This week was another challenge for the sports betting industry in regards to the Sunshine State. October 15th was supposed to be an exciting day for Florida and everyone else who was involved. On paper, the Seminole Tribe, especially Tampa’s Seminole Hard Rock Casino can take wagers on their lands.
Sports Betting in Florida May Take Longer than Anticipated
There is no doubt that Florida will thrive in terms of revenue and volume in the number of bets placed because the state is a tourist attraction as the weather gets colder up north. The state is home to the Tampa Buccaneers and the Tampa Bay Lightning that won the Super Bowl and Stanley Cup last season. The NBA season is about to begin as well as residents are patiently waiting for the signal.
October 15th was a very crucial day in an effort to move quickly through the process; however, officials at Hard Rock and the Seminole Tribe have not set an official start date. The Seminole Tribe was not planning to launch by the 15th because there are still a lot of things to layout in regards to the rules and regulations and the legal challenges and guidelines that come with it.
Daniel Wallach, a professor at the University of Miami who teaches sports betting law and regulation, stated,
”The law provided the Seminole Tribe with the entitlement to open on October 15th. It didn’t mandate that it open on October 15th.”
In the initial stages, the state will only host eight locations that will take sports betting wagers on-site as a majority is believed to be done online.
Hard Rock Hopes to be a Part of The First Launch in the State
Hard Rock Digital hopes to launch its brand to retail and online so that customers can bet remotely from any part of the state. The company is run by former online gambling executives for the Stars Group that hopes to one day develop and secure the naming rights to bring a sportsbook to the market called Hard Rock Sportsbook.
However, this is easier said than done as there are legal complications that can derail a launch as the Seminole Tribe holds a lot of power in the sector due to the laws signed decades ago. The sports betting industry is a very lucrative business as the experts in the industry believe that the state can generate over a billion dollars in revenue a year.
It is a tough situation for the third parties who are not too happy as the Florida government and the Seminole Tribe agreed on a deal to make the Tribe a monopoly that allows overseeing sports betting within the state. For example, a bettor will not be able to place bets in places like Miami and Key West as they are not on Tribal property. Even placing a bet through one’s own computer and mobile device on the tribal property does not mean that the bet can be placed.
Sports betting in the state may happen soon but anti-gambling and even some casinos have filed lawsuits in an effort to further halt the process. There will be a hearing between Florida and Magic City Casino and Bonita Springs Poker Room on November 5th. If the courts decide to dismiss the case, the state can expect a full launch in the next sixty days.
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