$32 Million and Counting has been Dropped in Florida to Legalize Sports Betting via Initiative Petitions, but will they Succeed?

Casino Watch Focus has reported on the ongoing efforts to legalize sports betting in Florida.  The Seminole Nation and state of Florida reached a new gambling compact that provides exclusive rights to sports betting in exchange for annual cash payments to the state.  That compact has been hotly contested and seemingly violates federal and states laws for allowing sports betting online and not solely at Seminole casinos.  But even if those legal hurdles are worked out, that still leaves companies like Draft Kings and FanDuel from getting a piece of the sports betting pie.  Enter the initiative petition. If enough signatures can be gathered, the issue would go to the voters.  If the voters pass the petition, sports betting could be legalized all over the state.  So how much money has been spent on these petitions and are they getting the signatures they need?  Florida Politics breaks it down:

Two gambling drives each have spent $16 million; neither has more than 110K verified signatures. Gambling interests’ efforts to get Florida voters to consider expanding casino gambling and sports betting are raising the stakes — pouring another $22 million into their campaigns in October.

The cash infusion fuels frenetic petition drives by Florida Education Champions, a committee backed by the fantasy sports giants DraftKings and FanDuel seeking to expand sports betting in Florida; and by Florida Voters In Charge, a committee backed by Las Vegas Sands Corp. seeking to create opportunities for casinos in North Florida. Between them they’ve spent more than $32 million over four months.

For DraftKings, FanDuel, and Las Vegas Sands, the clock is ticking, fast, on their petition drives. The two petition drives each need 891,589 verified voters’ signatures by January. Neither is close, according to the latest updates posted by the Florida Secretary of State.

For more information on the dangers of gambling, please visit CASINO WATCH & CASINO WATCH FOUNDATION


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