Florida Sports Betting Bills Times 3
By
Mar 1, 2021
Florida sports betting efforts are in full swing as lawmakers make another push to legalize sports betting. Last Thursday, state lawmakers filed three sports betting bills for the upcoming session. Lawmakers will be in from March 2 to April 30, which could be enough time to get something done in the Sunshine State.
Rep. Chip LaMarca and Anika Omphroy are teaming up to file three Florida sports betting bills, which will officially be introduced in the House this week. The three bills are being filed strategically, with LaMarca backing two bills (HB 1317 and HB 1321) and Omphroy backing one (HB 1319).
HB 1317 and HB 1321 will deal with the structure of the overall industry along with licensing requirements. HB 1319 lays out the tax structure for sports betting operators.
“As we grapple with a tough budget year and as many good programs are facing deep cuts, it’s time Florida gets innovative when it comes to keeping dollars in our state,” said LaMarca.
What’s Being Proposed in Florida
The bipartisan agreement between LaMarca and Omphroy is strategic for lawmakers from both parties on board with sports betting. The two representatives are also pitching how sports betting will help Florida patch part of its multi-billion dollar budget deficit due to Covid-19.
HB 1317 will help legalize retail and online sports betting through tribal casinos, professional sports stadiums, and racinos. The bill will also allow bets to be placed on professional and college sports. Tribal casinos have long been against player-banked games. However, the sports betting bill structure could still help Florida get around this huge hurdle and legalize sports betting online.
Sportsbooks terminals would be legal in Florida at undisclosed locations and legal online betting platforms, and each operator would have one skin. Betting on high school sports will be illegal, and bettors will have to be 21 years or older to wager.
House Bill 1321 breaks down licensing fees and more structure surrounding sports betting. LaMarca proposes $7.5 million licensing fees in the first year and a $1 million annual renewal fee. The Florida Representative is also proposing a 22.5% tax rate on betting handle earnings.
Are Nine Weeks Enough to Pass Floriday Sports Betting Bill?
Florida lawmakers will have 60 days to decide the fate of sports betting. Although the bills will not be officially introduced until Tuesday, it is good that lawmakers can review them, as LaMarca and Omphroy released the three on Thursday.
“It is a privilege to file one of the three required pieces of legislation to bring legal sports wagering to Florida with Rep. LaMarca,” Omphroy added Thursday. “We need to boost our tourism and fill budget gaps for things like education and workforce training. Sports wagering can provide the funds that we are currently leaving on the table.”
Florida Sports betting will help the state in multiple avenues outside of fixing the budget gap. Sports betting could attract tourists while sitting on the beach or even getting action in between rides at Disney World. Millions of dollars are bet in Florida through offshore sites and black-market bookies, so it only makes sense to keep the money in the state.
This could be the year sports betting becomes legal in Florida – it could help close a huge budget shortfall caused by the pandemic.
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— Matt Lincoln (@LincolnCBS12) March 1, 2021
The proposal laid out also gives Floridians multiple options between locations and mobile operators looking to enter the state. Gov. Ron DeSantis brought the NBA Bubble to Orlando last summer and fall and brought the Super Bowl to Tampa Bay after Los Angeles had to move it due to Covid concerns.
If a sports betting bill gets to DeSantis’ desk, there is no doubt he signs the bill through. Now, Florida lawmakers will have to work quickly on getting the bill through the state to make it happen.