The Florida State Seminoles may have missed out on the College Football Playoffs, but the Seminole Tribe in Florida is about to cash in when sports betting goes fully live in the state on Thursday. Online sports betting went live in a limited capacity on Nov. 7. Despite legal issues, the Seminole Tribe of Florida is moving ahead with its full launch on Dec. 6.
Florida State Misses CFP, Florida Sports Betting Goes Live
A Long Legal Battle
Florida’s sports wagering journey was agreed upon back in 2021. The state granted the Seminole Tribe of Florida rights to conduct sports betting and select in-person table games throughout the state regardless of location. In exchange, the tribe would pay $2.5 billion over the first five years of a 30-year agreement.
But in November of that year, it was put on hold and went through the courts. The opposition argued that just because the servers that accepted the bet were on tribal land, it didn’t mean the bets were placed there and legal. The court battle made its way to the US Court of Appeals in DC and was recently upheld, making it legal to bet online this way in Florida. Another appeal in progress is expected to be heard early in 2024. For now, though, everything is a go.
The launch of the sportsbook coincides with the launch of the table games roulette and craps at the six Seminole Tribe casinos in the state run by Hard Rock Cafe and Casino.
“The Seminole Tribe of Florida is proud to point to a new era in Florida gaming with the unveiling of our new casino games,” said Seminole Tribe of Florida Chairman Marcellus Osceola Jr. “With the addition of craps, roulette, and sports betting, we now offer a full complement of casino games, and we join the ranks of leading casinos around the world.”
Financial Impact of Sports Betting and FSU Being Left Out of the CFP
It’s unclear if Florida State’s absence will leave a mark on the first month of sports betting in the state. The move to leave Florida State out of the playoff cost the ACC $2 million. It was also a blow to the pride of the conference and the school. Conferences get $6 million if a team qualifies for the playoff and $4 million if they are picked for a New Year’s Six game.
Not everyone loses money, though. It’s estimated that this new sportsbook and table game agreement will mean an additional $500 million to $1 billion in revenue for the Seminole Tribe. It is also estimated that $12.5 million in additional tax revenue for the state could be generated.
Consider this: Ohio said on Tuesday that it accrued nearly $99.5 million in taxes from sports betting. According to the US Census Bureau, Florida has approximately 10 million more residents. Additionally, Florida attracted more than 137 million tourists in 2022. That’s a lot more potential bettors.
DeSantis Weighs In on FSU
The omission of the Seminoles from the CFB playoff has left many in the Sunshine State shaken. As a result, Florida Gov. Ron DeSantis is considering using state money to help with any legal action.
During an appearance on the “Ingraham Angle” on Fox News on Monday, DeSantis said, “Florida State earned that spot. Now, people have said, is there anything you can do? They’re actually looking to see if there’s anything they can do. I don’t know if there is any recourse, but I have set aside a million dollars in case there ever is any litigation. I’m not saying that there’s going to be. They are looking at it. I don’t think that this has spoken well for college football. And we’ll see.”
What Sportsbooks Are Live in Florida
For now, it looks like it’s just Hard Rock Bet that is live in Florida. Hard Rock Bet, a partner of the Seminole Tribe, is in seven states nationwide.
It’s unclear if sportsbooks like FanDuel and DraftKings will be operating for sports betting in the state. However, both companies operate in the state for horse racing wagering.
The Number of States Allowing Sports Betting
With Florida now joining the ranks of in-person and online sports betting, there are just 11 states that don’t allow some form of sports betting. Minnesota and Missouri though are expected to join the sports betting states in 2024. North Carolina and Mississippi, which allow in-person betting, are expected to allow online betting in 2024. The two largest states that don’t allow sports betting in any form are California and Texas.
In Other Sports Betting News: ESPN Bet Inks Another Deal, Heisman Odds
One week after becoming an official partner with the NHL, ESPN Bet and PENN Entertainment announced on Tuesday a partnership with Quail Hollow Club and the Wells Fargo Championship.
Under the agreement, PENN secures market access for ESPN BET in North Carolina, subject to regulatory approvals. Additionally, ESPN BET will become the exclusive official betting operator of the Wells Fargo Championship, a PGA TOUR Signature Event held at Quail Hollow Club in Charlotte, N.C.
“We are thrilled to partner with Quail Hollow Club and the Wells Fargo Championship as we prepare to bring our new online sports betting brand, ESPN BET, to North Carolina,” said Benjie Levy, Head of Penn Interactive. “Along with market access, we’re excited to sponsor the popular Wells Fargo Championship and look forward to working together with our new partners to create unique fan activations.”
The Heisman Trophy finalists were announced this week and LSU Jayden Daniels highlights the invitees. Ohio State wide receiver Marvin Harrison Jr., Oregon quarterback Bo Nix, and Washington quarterback Michael Penix Jr. were also invited.
Daniels is the favorite at BetMGM at -1400 to win the award. Penix (+900), Nix (+2200), and Harrison (+20000) round out the odds.
