Florida lawmakers have ratified a gaming compact signed by Governor Ron DeSantis and the Seminole Tribe that will see the launch of sports betting, roulette, and craps at Florida casinos. SB 2-A will run for 30 years in what some representatives call a monopoly on Florida sports betting for the Seminole Tribe.
The legislation passed through the state senate by a vote of 38-1 before a house vote on Wednesday saw the final ratification of the bill by a landslide of 97-17.
The legislation was approved despite many fears over its length and the payout to the state.
Seminole Tribe to Have 30 Year Monopoly on Legal Sports Betting in Florida“This deal feels like we came to the table with the Seminoles from a position of desperation.”
The Seminole Tribe had stopped paying the state its required $350 million per year back in 2019 claiming that the state had violated the previous compact. However, the new compact will guarantee that the tribe must pay a fixed amount of $500 million each year for the first five years or lose its license. Further payments could see the state net as much as $20 billion over the next three decades.
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Image credit: Valerie / CC BY-NC-ND 2.0
Olivia has worked as an editor and writer for major brands across multiple niches. She now focuses on the iGaming and sports betting industries.