It’s Time to Bet On (and In) Florida

The state of Florida is at the center of the football universe. Not just because Tom Brady and the Tampa Buccaneers are defending Super Bowl Champions, or the Jacksonville Jaguars will be debuting their shiny new quarterback chosen with the first pick in the NFL Draft or the Miami Dolphins can be relevant for the first time in a generation. Not even the passionate fan base of their college football squads can match the hype surrounding this season. Florida is the belle of the “foot-ball” because legalized sports betting is coming. Ready, set, hike!

In May of this year, state lawmakers approved a gaming compact with the Seminole Tribe allowing legalized sports gambling. This would include old school brick and mortar walk up windows at Seminole casinos and a digital component with servers being located on tribal land for on-line wagers. It is a potential windfall for the Sunshine State as the compact would net Florida $2.5 billion in the first five years of the deal from the Seminoles. The deal still needs federal approval and already has opponents.

The Seminoles can choose to work with up to three on-line gambling platforms as part of the compact but two major outlets: DraftKings and Fan Duel have funded a separate political committee, Florida Education Champions, to legalize sports betting in the entire state and not have to deal exclusively with the Seminoles. This would open the door to not just on-line betting, but wagering at sports venues, other casinos, racetracks, just about anywhere in the state. Imagine the potential of filling your gas tank and laying a bet on the game. They are hoping to have that on the November 2022 ballot.

According to this page here, we could see Florida legalizing sports betting later this year. While it likely won’t be launched in time for the start of the NFL season, at least Florida residents can start signing up online. Once the bill passes legislation, it won’t be long till sports betting officially launches.

Whether it’s Dolphins, Buccaneers or Jaguars, what does all this mean  for sports investors in the third largest state in the U.S by population? Legalized sports gaming is coming, and it will be here if all goes to plan, for this football season. More two dozen states have some form of legalized sports gaming. Florida is in the Red Zone and nearly across the goal line. So the real question is: are you ready for some football?

You can follow all of Jim Rodriguez’s picks at @JRodShow on Twitter.