Florida Sports Betting
Online Sports Betting in Florida
In April 2021, Florida state officials announced a deal that fully legalized online sports betting throughout the Sunshine State.
Today, we will be taking a closer look at this historic deal and give you a comprehensive overview of online sports betting in Florida.
Sports Betting is Legal in Florida
Based on the deal between the Seminole Tribe of Florida and the state of Florida, the Seminole Tribe has been granted the right to launch sports betting across the Sunshine State. While the entire contents of the deal have not been released to the public, here’s what we know:
The state of Florida could receive as much as $20 billion over the next 30 years from sports betting through a revenue-sharing agreement between itself and the Seminole Tribe.
The Tribe has been granted the right to create another three brick-and-mortar casinos on tribal land.
The Seminole Tribe can operate retail sportsbooks at any of their brick-and-mortar casinos in Florida, certain sports stadiums, professional sports locations, horse tracks, card rooms, and other facilities.
The Tribe will serve as the exclusive operator of online/digital sportsbooks in Florida for the next 30 years.
Online sports betting will launch in Florida on October 15th, 2021, when the Hard Rock Casinos online sportsbook takes its first wager.
The Tribe can add roulette and craps at any of their brick-and-mortar casinos in the state.
Florida Set to Dominate Sports Betting in the US
Legalizing sports betting has been a long and often-times frustrating journey, filled with disagreements and fighting over significant and trivial issues. The result is that Florida is now set to become the largest market for sports betting in the United States. Of the states to have legalized sports betting, Florida is the 3rd most populated. And with the Sunshine State seeing more than 100 million tourists every year, online sports betting will be welcomed with open arms and wallets.
Expected Sports Betting Revenue
The state of Florida is expected to make $500 million a year from sports betting thanks to a revenue-sharing deal with the Seminole Tribe.
While both parties have signed and approved the deal, it still needs to undergo federal and state approval and might even face last-minute legal challenges. There is a chance that the entire issue of sports betting might be put up for a voter referendum.
Who Regulates Gambling in Florida?
According to the gaming compact, gambling in Florida in Florida will be regulated by two parties:
1. The Seminole Tribe will regulate all brick-and-mortar casinos found on tribal retail sportsbooks and online sportsbooks that use servers located on tribal land.
2. The Florida Gaming Control Commission, along with its Division of Gaming Enforcement, will focus its attention on eliminating all illegal parimutuels, sportsbooks, gambling halls, and card games found outside of tribal land.
With the Seminole Tribe serving as the exclusive operators of sports betting and owning six brick-and-mortar casinos, which is expected to grow to nine over the next few years, it is clear that they are the more dominant regulator in Florida.
Online Sportsbooks in Florida
Since online sports betting will only launch on October 15, 2021, the confirmed sportsbook to be announced so far has been the Hard Rock Sportsbook, operated by the Hard Rock Casino Tampa, owned by Seminole Tribe.
However, it’s doubtful that the state that could become the largest market for sports betting in the US will only be served by a single online sportsbook. In fact, from now until October 15th, we can expect to hear regular announcements of additional sportsbooks joining the party.
While we cannot predict with 100% certainty, we can get an idea of Florida’s online sports betting landscape by looking at the sportsbooks currently operating in the markets across the other states that offer legal sports online sportsbooks.
Hard Rock Online Sportsbook
So far, the Hard Rock Online Sportsbook, owned by the Seminole Tribe, is the one sportsbook that we are sure will be there on the day online sports betting kicks off in the Sunshine State.
Looking at the Hard Rock’s live sportsbooks in Iowa and New Jersey, we can expect their latest addition to offer a wide variety of wager types across the most popular sports (NBA, NFL, NHL, MLB, and several others).
When compared to the other big online sportsbooks operating in other states, it is better than average. However, two areas where they could improve are with their bet lines and promotions.
They aren’t necessarily bad in these areas, but they aren’t excellent either. However, there is hope – sportsbooks often come up with unique promos and offers on the day they launch in a market, so we can expect them to come up with something super impressive since they will be the first to break into the Florida sports betting scene.
With their recent announcement, the Hard Rock Sportsbook now operates in three states:
Florida (October 15, 2021)
Other Potential Sportsbooks in Florida
Because Florida is such a populous state, there is no way there can be only one online sportsbook. From what we know about other states where online betting is legal, we can anticipate that the following sportsbook platforms will want to break into the Florida market as well.
DraftKings Online Sportsbook
DraftKings currently reigns supreme in every market they compete in. From generous Welcome Bonus offers to a great mobile app, DraftKings Sportsbook has it all. And it can’t be too long before they bring it all to Florida.
DraftKings would be a great addition to the Florida market, and we are sure that they can’t wait to break into Florida to rule what could be the largest sports betting market in the United States.
DraftKings Sportsbook can be found offered in 11 states:
FanDuel Online Sportsbook
Wherever you find DraftKings, you will also find FanDuel. Much like its biggest competitor, DraftKings made its name in the field of Daily Fantasy Sports before replicating to success as an online sportsbook. With their sportsbooks currently found in ten markets, we can’t imagine it will be too long before we hear that FanDuel is joining the party in the Sunshine State.
This sportsbook is generally acknowledged to have some of the best and most competitive lines in the sports betting industry and usually offers a full calendar of exciting promos all year round.
Their mobile app is easy to use and filled with features, making it ideal for beginners and sportsbook veterans.
This online sportsbook currently competes in ten states:
FOX Bet Online Sportsbook
FOX Bet, the online gambling branch of FOX Sports, is also sure to announce its intention to Florida’s world of online sports betting sooner rather than later. FOX Bets’ sportsbooks can go toe-to-toe with any of the other big-name sportsbooks in terms of the odds and promos they offer.
Looking at the states in which it is currently competing, it seems that FOX Bet prefers to operate in states that permit both online casinos and online sportsbooks. However, due to the potential of just how massive the online sports betting market could be in the Sunshine State, we fully expect them to be a part of it as early as possible.
FOX Bet Sportsbook is currently operating in four states:
BetMGM Online Sportsbook
BetMGM is the online gaming division of one of the biggest gambling brands in the world - MGM Resorts and Casinos. It is a name that is well-known and established in popular culture that even those with no interest in gambling recognize the brand and its link to casinos, gambling, and more recently, sports betting.
BetMGM Sportsbook can be found competing across ten states:
William Hill Online Sportsbook
William Hill is the largest retail sportsbook in America. Founded over 50 years ago in England, William Hill has a significant presence worldwide and has grown to become a global player in sports betting.
William Hill operates as an online sportsbook in the following states:
Points Bet Online Sportsbook
PointsBet, established in Australia, entered the US in 2018 after PASPA was overturned. They have become known for their generous promos, especially their welcome bonuses that attract new players who tend to stick around after realizing that after one promo ends, the next one starts.
PointsBet currently competes in the following six states:
Caesars Online Sportsbook
With an existing presence in Florida thanks to their retail casino, Isle Casino Pompano Park, it would be shocking if they chose not to launch an online sportsbook in the state.
Caesar Sportsbook currently operates in four different states:
TwinSpires Online Sportsbook
TwinSpires, the online sportsbook of Churchill Downs Inc., currently has a presence in the market thanks to their Calder Casino. While they compete in several sports betting markets in the US, they haven’t taken off in any of them. However, they make a concerted effort to up their game and find success in the largest sports betting market if they decide to launch in Florida.
TwinSpires Sportsbook operates in three states:
New Player Welcome Bonus Offerings in Florida
Looking at every sportsbook operating in any of the states where online sports betting is permitted, one thing is certain – new players who sign up with an online sportsbook will receive a Welcome Bonus. There are several different types of welcome bonuses that we can expect online sportsbooks in Florida to offer.
With the risk-free bet, the new player can place a bet up to a certain amount. If they lose the bet, the sportsbook will then refund them, usually in the form of credits rather than dollars.
First Deposit Match
The sportsbook will match the amount of the first deposit you make up to a certain amount. Let’s say a sportsbook is offering new players a first deposit match of up to $500. So, if you decide to deposit $250, they will add another $250 to your total.
As the name suggests, you receive a bonus without ever having to make a deposit. The amount is usually far smaller, usually between $10 and $50, than what you are offered with the first deposit match. But bear in mind that you need to spend $250 to get a $250 bonus, whereas, with a no-deposit bonus, the sportsbook will give it to you just for registering with them.
Free Matched Bet
With this type of Welcome Bonus, the online sportsbook will match the amount you wager in your first bet as a free bet. So, if you wager $50 on your first bet, they will reward you with a risk-free/free bet worth $50.
Read the Fine Print
Please keep in mind that almost all of these bonuses have some sort of wagering requirement you must first meet before you can withdraw any of the winnings you have made using the bonus. Some bonuses usually have a higher wagering requirement than others. So be sure to read the fine, especially when the bonus starts looking a little TOO good to be true.
Types of Wagers in Florida
This is the type of wager the average person thinks of when they hear the word “bet.” You are simply placing a bet on who you think will win the match.
With spreads, the sportsbook will handicap the match. So, if the Heat is at 7.6 to win against the Lakers, they will have to beat them by at least 8 points to win the bet.
Often referred to as Over/Under bets. In this type of wager, you bet on how many points will be scored in the game by both sides. So, if the total for a game is 43, and you bet the “under” the total amount of points in the game needs to be 42 or less for you to win.
In the future, you are betting on the eventual result, like who will win the Super Bowl or be the MVP.
Props, also referred to as “propositional bets,” are when you bet on the performance of an individual or team are when you are betting on a team or individual performance. For example, you could bet on how many rebounds a player will end up with.
Most Popular Sports to Wager On in Florida
Most popular US sports
Most popular international sports
Banking Options at Online Sportsbooks in Florida
Most methods include:
Cash at the casino cage
Keep in mind that every sportsbook is different, and some may accept and make use of specific banking options while others may not.