Regulated Sports Betting Market In Florida Faces Many Hurdles

Regulated Sports Betting Market In Florida Faces Many Hurdles

The regulated sports betting market in Florida is a distant dream. While the proponents of the regulated sports betting market in the Sunny State are hopeful of having regulated sports betting market, it has many hurdles and challenges to overcome before it becomes a reality.

Law professor Robert Jarvis opines that the bill that calls for legalizing sports betting in Florida will not be approved as it fails to consider the influence of the Seminole tribe. Senator Jeffrey Brandes has introduced a sports betting legalization bill and it is subject to approval from the legislature.

According to the law professor, the Seminole tribe which operates six land-based gambling venues in Florida will vouch for control on the regulated sports betting market. Moreover, he added that if sports gambling is legalized in the state, a lot will have to be settled in court.

According to the sports betting bill under consideration, the state lottery would be allowed to offer sports betting at its self-service kiosks. State Lottery would also be authorized to grant licenses to businesses that seek to offer sports betting online and through land-based betting facilities.

The proponents say that it would help the state cash in significant additional tax revenue. Sports betting operators in the state would have to pay a certain percentage of their revenue towards education programs.

While all professional and college-level sporting events will be legal to place to bet on, high school games are not under the purview of the bill.

Senator Brandes who has introduced the bill advocated that regulated sports betting market in the state would diminish the illegal betting industry that’s flourishing and is about $150 billion strong.

Since the US Supreme court lifted a decade-long ban on sports gambling, several US states have legalized and launched sports betting operations. Recently, Michigan became the latest US state to legalize sports betting. About 13 US states have already launched a regulated sports gambling market.

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