This week’s news focuses on the fight for online gambling in the state of Florida, as it could have consequences for the rest of the country. Florida mobile sports betting, along with bets made in casinos, is estimated to be worth $2.5 billion over the next 5 years, and that has put the state, Tribal Gaming, and sports book operators Fanduel and DraftKings at war.
32 states have regulated sports betting. 29 states have Tribal Gaming. Florida has them both, meaning that what happens down there could have far-reaching consequences for other states. Not just for sports betting but for all forms of land based and online gambling. In May, the state reached an agreement with the Seminole Tribe to make Florida sports betting a reality for residents. There were lawsuits filed and accusations of corruption. All because so much is on the line!
However, that has not stopped the Seminal Tribe from forming sports betting partnerships with poker rooms, casinos, and race tracks all across the state. But there is a bigger problem on the horizon. Even bigger than the lawsuits. Fantasy sports providers FanDuel and DraftKings have teamed up and dropped $20 million to help fight the state’s agreement with the Seminole Tribe, circulating a petition to get a sports betting amendment on the ballot next year, and put an end to the Seminole’s exclusive Florida sports betting agreement.
Now, one of the lawsuits in this case has already been thrown out. Another one has a court date later this week. But even if all the lawsuits get tossed there’s still the danger of that ballot measure next year, so this fight could be a long way from over. But with $2.5 billion on the line you gotta expect there’s gonna be some biting, clawing, and scratching!
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