Florida Sports Betting: Anticipating Updates in 2024 – What Changes Lie Ahead?
By Space Coast Daily // May 4, 2024
2024 will see quite significant legislative and technological changes in the sports betting sector in Florida. Here you will find the latest information on the topic and best online betting sites.
Florida has had a rich tradition of gambling and gaming and is seen as a pioneering state in the sector. Mainly due to its soft touch approach to gambling and licensing. Where other states have banned or severely limited gambling and sports betting, Florida has embraced it and maybe over zealously granted sports betting licenses to incumbent casino operators. That is an area of contention now and likely to lead to an opening up of the competition. This alongside advancements in reality and immersive technology is set to bring huge changes in the industry and Florida’s local market.
Tribal Land Operators
The monopoly of the Seminole Native Indian Tribe is set to be broken up or at least the stronghold reduced. The Indian tribe along with the Miccosukee Tribe of Indians have long standing licenses to operate land based casinos on their land and in 2021 there was an agreement struck between the state and Seminole Tribe to operate sports betting from their casinos and online platforms. The policy was aimed at integrating sports betting into the existing state gambling structure partly because of ease and lobbying from the casino operators. This met with strong opposition.
Three casinos owned by the Seminole Tribe opened retail bookmakers in their casinos and The Hard Rock Bet app also owned by the tribe are at the center of a legal case to dismantle what was agreed and open up the sports betting market to a more diverse range of operators. Legislators argue that it would help Florida’s sports industry and colleges by boosting competition revenue for the state treasury.
Another recent addition to the gaming offering in Florida has been the fantasy sports bills. Fantasy sports allows gamblers to play team manager and choose their all star teams who earn points according to their performance on match days. This blurs boundaries between computer game play and sports betting so, has faced protests from the public and gaming operators claiming it is non-constitutional and should be halted. This will rumble on in 2024 and likely beyond into 2025.
Lower courts have sided with the protestors but the state’s Supreme Court consistently rejected challenges and allowed the sports betting structure to reopen in 2023.
Immersive Technology in Gaming
Florida has always been committed to technology in the gaming sector and that will help improve the whole landscape for consumers and operators. Florida is seen as a national and international leader for tech advances in areas of sports and online betting. Technology like AR, VR and more interactive, real-time 3D (RT3D) content has huge opportunities for improving gaming experiences and player interaction.
Metaverse and Reality
The Metaverse narrative is also gaining traction in the state’s gambling industry and the integration with both virtual and augmented realities will lead to more possibilities for gameplay and player immersion.
Developers are developing immersive virtual worlds where players can interact with each other and the environment in real-time. Florida has already been mapped out by Unity, a platform for creating RT3D content in cooperation with the Orlando Economic Partnership because this also has impacts for investment and workforce training.
Tech companies and Venture Capitalists are investing in VR gaming as the US market is set to grow to $54 billion by 2028. If Florida can capture a chunk of this investment, it will drive the local economy and innovation.
Esports and Virtual Interactions
The eSports sector is set to grow to 650 million users worldwide by 2025. Virtual gaming and sportsbooks on the results will grow significantly with this. A whole new sector of immersive experiences that have sports and more social interaction at the heart of it will appeal to larger audiences and re-invigorate interest from sports betting customers.
Recap Florida’s Sports Betting Landscape
The advancements in technology, particularly the rise of digital platforms and immersive technologies, will have a huge impact on Florida’s sports betting landscape. The enhancement of gaming experiences will transform the way people interact with games and contribute to the state’s economic growth. The ongoing legal challenges and the integration of sports betting with the rest of the gambling industry is a headwind but being able to bet online and through apps like the Hard Rock sports app gives users in Florida a local choice and avoids them turning to offshore options that do not benefit the state.
