Florida’s sports gambling market is getting serious attention from outsiders
By Bob Garcia
Even before a final decision on Florida’s sports gambling efforts is made, operators are optimistic
Florida is proving to be a state that is becoming a juggernaut when it comes to attracting outside attention for its sports betting market to become a reality. Many have been waiting for legalization because they know the potential that this state has, and it is clear that the growth would be more than exponential, and more and more news is coming in to prove that this is a fact.
According to records, campaign contributions related to this market skyrocketed last month, demonstrating the immense wealth that continues to be gained as time goes by. Earlier this week, Florida Phoenix reported that industry giants Draft Kings and FanDuel dug deep into their pockets to invest a total of $20 million that will be used to support a campaign to legalize sports betting under the 2022 amendment to the Florida Constitution. But that’s not all. On Tuesday, Phoenix also reported finding an extra $42 million in contributions that were awarded in connection with gambling.
So far, this $62 million seems to be a good step towards a legalization bill; however, it is thought that it could only be the beginning. Phoenix only sought donations of at least $1 million, but there may be more contributions recorded in this data whose names are not as identifiable under the gambling or sports betting industry. It has been noted how different entities have joined together to create and/or finance political action committees for these public campaigns to obtain the necessary support.
Receiving this support, especially from companies that have no connection to the Sunshine State, leaves a lot of good things to be said, and is clearly a call for lawmakers to move as soon as possible so that this market can be included and the state can begin to benefit from the large profits in the future.