On May 19, 2021, the Florida legislature approved a 30-year deal granting the Seminole Indian Tribe (Tribe) exclusive rights to operate sports betting in the state. While the Tribal Gaming Compact received bipartisan support in the legislature and will bring considerable revenue to the state, it will most certainly face legal challenges by gambling opponents on state and federal levels. continue reading
Online Sports Betting Archives
Connecticut Legislature Passes Bill Legalizing Retail and Online Sports Betting, Online Casino Gaming, and DFS
On May 25, 2021, the Connecticut General Assembly enacted legislation authorizing retail and online sports betting, online casino gaming and online daily fantasy sports (DFS), to be offered exclusively by the Connecticut Lottery Corporation (the Lottery) and the state’s Mashantucket Pequot and Mohegan Indian Tribes (the Tribes). The expanded gaming bill was developed alongside a new state-tribal gaming compact that will allow the Tribes to conduct retail and online sports betting and DFS operations on tribal land. Even after the bill is signed into law by Governor Ted Lamont, its expanded gaming provisions will only take effect once the new compacts are approved by the U.S. Bureau of Indian Affairs. Gov. Lamont is expected to submit the compacts for Bureau approval in the coming weeks. continue reading
Sports Betting Vendor and Supplier Licensing: A Primer for Industry Newcomers
The explosive growth of sports betting in the United States has opened the door to a variety of new business opportunities for firms in the technology, hospitality, marketing, and financial services industries. It is critically important for companies in this new space to understand that state licensing and compliance requirements apply not only to sportsbook operators, but also to those doing business with sportsbook operators, such as vendors and suppliers. This article provides an overview of these vendor and supplier requirements, some of which may be surprising to those unfamiliar with the gaming industry. continue reading
Florida Reaches Deal on 30-Year Gaming Compact Authorizing Retail and Mobile Sports Betting Under Exclusive Control of Seminole Indian Tribe
On Friday, April 23, 2021, Florida Governor Ron DeSantis announced a 30-year Tribal Gaming Compact with the Seminole Indian Tribe that authorizes retail and online sports betting in the state under the Tribe’s exclusive control. The Compact requires the Tribe to make annual “revenue share payments” to the state consisting of up to 13.5% of “Net Wins” (i.e., the Tribe’s total receipts from all wagers, minus the value of any prizes paid out or promotional credits issued), with guaranteed minimum payments of $500 million per year for the first five years of the agreement. continue reading