Florida is set to launch online sports betting state-wide on October 15th. This change in legislation is bound to create a deluge of opportunities and bring numerous changes to the Florida gambling market. The Seminole Tribe of Florida signed a 30-year deal with the state government to legalize sports betting in 2021.
Although this deal brings a lot of excitement to the citizens of Florida, it also brings a lot of headaches for parties involved as officials struggle to consolidate all legal aspects of this bill. Here are the possible consequences of the legalization of sports betting in Florida.
More Sports Betting
A direct effect of sports betting legalization is a highly likely increase in sports betting activity. Digital platforms give players better access to their favourite sportsbooks, which means they’ll surely increase the activity faster than we think.
And when more players wager on sports, the casinos and sportsbooks get more revenue. And where’s a bigger revenue, there are better profits for all parties involved. Moreover, since now everything is legalized, sportsbooks have to pay enormous taxes on all operations, which will undoubtedly go straight into the government’s budget for new schools, roads, or similar investments. The money that goes to the state can be used for important things, such as various educational and medical establishments investments.
Player Safety and Betting Regulation
Moreover, an increase in sports betting within a legal framework also means a safer market. The legalization of sports betting – and online gambling in general – creates a safer environment in which all operators are bound by law to protect their customers from the addictive harms of gambling. Players also get to see transparent requirements, rules, and payouts, which is vital when dabbling in wagering with real money. Another thing that the bettors will appreciate is the government’s protection in case operators and sportsbooks decide to play dirty or attempt shady business.
Digital Gaming Might Become More Pronounced
Another thing that we must note is the increase in online gaming. The pandemic, coupled with spectacular advancements in tech and software, has generated a fertile field in which various gaming companies and brands explore limits and possibilities. As a result, the gaming realm (sports betting and online gambling) is rapidly becoming a key playground for big tech companies looking to invest in entertainment. And as one of the biggest industries in the world, it’s only a matter of time when the entire gambling enterprise finds the internet as its new homeland.
Across the USA, online gambling is legalized in few states, but those that do support it are reluctant to add online casino mobile apps. However, the situation might change as several US states get ready to legalize casino and sports gambling.
A Switch to Mobile Casino Apps
Mobile gaming has a lot of potential, especially in the mid-and post-pandemic world. Ever since COVID broke out, entire countries have been plunged into the depths of social distancing, strict preventive measures, and stratospheric levels of stress, worry, and anxiety. One of the things that helped us all climb out of the void is, frankly, the internet and its many facets of entertainment. Gaming online, either casual games or gambling at the best casino sites, has bridged the gap between players and their favourite sources of gaming entertainment. Everything is there with a simple tap on your smartphone, so why not make the most out of it?
It is almost certain most sportsbooks in Florida will allow sports betting on apps launched by gaming operators. It remains to be seen which will have an app and will be available only on desktop, but as the world increases its mobile gaming activity, we don’t doubt Florida sportsbooks will do too.
A Possible Door to Other Forms of Gambling
Online gambling is blossoming worldwide, but officials say online gambling is not a part of this new deal. At the very least, it is not for now, but that cannot guarantee that such a change might not come soon. Immediately after the new bill was announced, poker rooms started pushing for a deal. However, the new bill, set to officially come into effect on October 15th, does not cover poker rooms for now.
Roulette and poker are available in Tampa casinos, but players cannot wager real money. A possible change might be on the horizon, but the full realization of such a change is not possible in at least two or three years. What shall happen once sports betting is legalized – and how fast it will happen – remain to be seen. One thing is certain, though. Things are about to change for good.