Sportsbook Tech

Florida Signs Betting Agreement with Seminole Tribe

According to sources, this will bring $2.5 billion to Florida over the next five years.

Florida Signs Betting Agreement with Seminole Tribe
Florida Signs Betting Agreement with Seminole Tribe

Florida, the next US state expected to dominate in the online gambling industry, has signed off on an exclusive agreement with Seminole Tribe.

The deal has been carried by Governor Ron DeSantis and will see sports betting permitted, giving the tribe full control over statewide sports betting.

Tribal leaders, including Chairman Marcellus Osceola Jr., joined DeSantis for a ceremonial signing of the deal, known as a “compact.”

According to sources, this will bring $2.5 billion to Florida over the next five years.

“We truly believe that this is the best deal for everybody. It’s not in favor of the tribe or the state. It’s in favor of both parties, because this is a long-lasting team,” Osceola said.

“This historic compact expands economic opportunity, tourism, and recreation, and bolsters the fiscal success of our state in one fell swoop for the benefit of all Floridians and Seminoles alike,” said Governor Ron DeSantis.

“Our agreement establishes the framework to generate billions in new revenue and untold waves of positive economic impact. Sports betting really is going on already. Why don’t we come together, put some structure to this, and let it be done in a way where the tribe is in control of the sports, and the state is able to share with some generous revenue payments,” DeSantis said.

The governor said he hopes sports betting will go live before professional football games kick off this summer.

“We are looking at this thing being hopefully operational by the summer. I think everyone wants it before football season, so that is going to be the goal,” he said. 

“The tribe can monetize that. The state will be able to monetize part of that. We also just trust the tribe to be the ones doing this, rather than stuff that is offshore and all these other things. So, we think it brings a level of protection to the consumer.”

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