Sports Gambling News In Florida
After a failed legal sports betting attempt in 2020, Florida State Senator Jeff Brandes has introduced a new bill that could give Florida legal sports betting in 2021. The main motivation for Florida to legalize sports betting is tax revenue. The proposed bill would net the state 15% of all revenue and charge each sportsbook a $100,000.
© Provided by Panama City WJHG-TV For the second year in a row a State Senator is looking to legalize sports betting. We’ll tell you about his proposal and get reaction from those who work in the field.TALLAHASSEE, Fla. (WJHG/WECP) - As many Americans prepare to finish out their fantasy football seasons this week, a state senator is hoping next year you may be able to legally play for money.
- Florida is still falling behind due to lack of legal sports betting The Seminole Tribe has gambling exclusivity and is tough to negotiate with State will have to make concessions to convince the Tribe to allow sports betting.
- Sports betting in Florida and other states was allowed by the U.S. Supreme Court with a ruling in a case in New Jersey a couple years ago. In Legalbetting.com, one can learn all about the current legal status which betting is in, depending on their state.
- Gambling talks underway between a key senator and the Seminole Tribe include a proposal that could bring sports betting to Florida by running it through the tribe, possibly avoiding the need for a.
- The sports betting industry wants its chips on the table in Florida in a big way, and, lawmakers might capitalize on that, offering the Seminole Tribe new exclusivity at brick-and-mortar casinos.
According to LegalSportsReport.com, legal sports wagering in 19 states and the District of Columbia has generated $340 million in tax revenue over the past two and a half years.
State Senator Jeff Brandes wants Florida to get in on the action. His proposal would put the Florida Department of the Lottery in charge of regulating sports betting.
“This would allow a much more legitimate way to play,” Senator Jeff Brandes said.
Winnings would be taxed at 15 percent. As with the lottery, revenues generated would go towards education.
Sports Gambling Statistics
FSU Sport Management Professor Dr. Jason Pappas says it could also help boost revenues for college teams, which have been hit hard by the pandemic.
“This would be another huge revenue stream that would offset some of those costs, and I truly believe over the long term would actually increase probably bigger than any other revenue source that’s out there when it comes to sport,” Pappas said .
Brandes hopes his bill can stand on its own.
“Doing it through the lottery, we’re not giving anybody anymore leverage against us in terms of withholding funds if somebody technically breaks the compact,” Brandes said.
This is the second year in a row the bill has been filed.
Last year it wasn’t heard by any committees, but there is new leadership this year deciding which bills are taken up.
The bill would permit betting on both collegiate and professional sports. Athletes, coaches, referees and management would be banned from betting.
Sports Gambling News In Florida Today
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