In the latest gambling news, all eyes are on the Florida Senate as legislation to regulate fantasy sports in Florida is now underway. Senator Travis Hutson filed SB 1568, known as the Fantasy Sports Contest Amusement Act. The bill will be tackled in the legislative session that will run from January 9 to March 8. The bill aims to regulate operators and bettors in fantasy sports.
When you open a sportsbook, you will see just how popular fantasy sports is. And with so many leagues open throughout the year, it will keep you busy. It will also help you earn more, so it is worth learning more about DFS in general.
Will Plans to Regulate Fantasy Sports in Florida Work?
The bill will require fantasy sports contests to involve the skill of contest participants, and that the outcomes will be determined by results of the performance of individuals, which includes athletes in sports events. The bill defines what contests are. It also specifically states that no outcome can be determined by a point spread or performance of an actual team. This is very important because by defining it as such, they are eliminating any discussion of sports betting in the bill.
If you look at your betting software, you will be able to see the difference of fantasy sports with other sports betting products. While they are all quite related, when it comes to legislation, it can be complicated. Sometimes, separating them in proposals gives each aspect of gaming a higher chance of passing. This is especially true if certain aspects of certain gaming products are under contention in the legislature.
For Florida, if the bill passes, operators will have a $1 million licensing fee and an annual renewal fee of $250,000. The Florida Gaming Control office will regulate and manage fantasy sports. If, however, you are looking for a more complete experience like what bookies offer thanks to their pay per head sportsbook service, then you are out of luck. Sports betting is still not regulated in Florida, and the legality of this matter is very controversial.
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