Legal Sports Betting in Florida on the Rise
Florida is certain to have an eventful gaming season and co-ordinately a fruitful rise in the sports betting season. With the legalization of sports betting, several doors have been opened to a previously untapped form of revenue and profits for the sports and betting sectors. As fall marks the approaching Football season, the betting industry is set to maximize profits like never before.
The football season is sure to attract a new gaming compact has been introduced called the Seminole Tribe. This new gaming compact is unique in that it allows betting on sports through the state. The Seminole Tribe was advocated for, and negotiations were made by Governor Ron DeSantis from April 2021.
The Seminole Tribe will freely allow access to all games conducted by this gaming compact. Moreover, the Seminole Tribe has been granted exclusive for a number of games such as roulette, sports betting, and craps, especially at the gaming compact’s centers and facilities.
The Florida state government approved the new gaming compact along with all its new features. The company also received the go-ahead from the United States Department of the Interior. The contract between the gaming company and the state of Florida ensures that the legalization of sports means that a portion of the revenue earned by the Seminole Tribe will be payable to the government.
According to the agreement between the two parties, the Seminole Tribe will be liable to pay 2.5 billion dollars to the government of the State of Florida for five years. Annually, this payment will work out to 500 million dollars a year. Once this initial payment period ends, the Seminole Tribe will only have to pay a certain percentage of its revenue. On the whole, the Seminole Tribe will be running for over 30 years. A new development in the sports betting industry is that both betting and crypto enthusiasts, alike have begun to take an active interest in the world of sports betting crypto, and people have started using Bitcoin to make their bets and complete their transactions.
Bitcoin allows users to use their cryptocurrency in collaboration with several betting sites such as Stake, BETUS, CLOUDBET, NITROGEN SPORTS, Bet chaser, Bet Master, etc., to name a few.
