Florida Sports Betting outlook for 2022
2022 Outlook for Florida Sports Betting
Florida has been one of the most interesting states to follow in the betting legalization process. We have covered many stories surrounding gambling in the Sunshine State over the past few months. The latest news emerging is that an initiative called 21-13, also referred to as the Florida Education Champions campaign, is gathering pace. Around 240,000 petition signatures have been reported by the Florida Division of Elections.
The campaign must reach 891,589 by February 1 for it to appear on the 2022 ballot in Florida. Campaign spokeswoman Christina Johnson said they are “confident we will have enough signatures” to meet the deadline.
Some Background on the Florida Education Champions Initiative
The Florida Education Champions campaign would see the state become an open sports betting market with numerous licenses made available to national sportsbooks, including FanDuel and DraftKings, the two biggest operators in the industry. They have funded the initiative to the tune of $37 million.
Sports wagering would be available to anyone in the Sunshine State, both in-person and online, who is at least 21 years old. If initiative 21-13 gets approved, the Florida Legislature would be required to create legislation to implement licensure and regulation policies. All tax receipts from sports wagering would go to the Educational Enhancement Trust Fund.
What Could Happen in 2022
This year will be a big one for the future of sports betting in what would be the most lucrative and biggest state to launch a legal market so far. If the Florida Education Champions initiative is passed, the November ballot would include a vote on legal sports betting. If voters choose to approve the sports gambling, the market would launch at some point in 2023.
The appeals court will likely make a ruling on the Seminole Tribe gaming compact early next year. This will occur alongside the competing participating in an intriguing race between the DraftKings/FanDuel partnership and the Hard Rock Sportsbook in the hopes of launching their product in the state. With a population of approximately 21.5 million people, Florida will become one of the most attractive sports betting markets in the nation when the state eventually launches its legal gambling market.
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