Bovada's Gray-Area Gamble in Florida
Florida authorities issue halt orders to three offshore organizations
Heads up, sports bettors of the Sunshine State! The Florida Gaming Control Commission (FGCC) has taken aim at some overseas bookmakers and casinos, served 'em with cease-and-desist orders, telling them to pack up and leave the Florida market. The unlucky trio includes BetUS, Bovada, and MyBookie, accused of running illegal gambling ops in the state.
The FGCC alleges these overseas companies offer sports and horse race bettings, all through their shady websites. According to Florida law, that's a no-go; it's a felony to engage in such wicked activities (§ 849.14, Fla. Stat.). Ross Marshman, FGCC's director, warned, "Florida's gaming landscape is a strictly regulated zone; even slot machines have only 14 legal beachheads due to state regulations and tribal negotiations with the Seminole Tribe."
You may ask, "What about the Big Game? I want a piece of the action!" Well, chill out, sports fan. The only official legal online sportsbook operating within Florida is the Seminole Tribe's Hard Rock Bet. But it seems that many Florida bettors have turned to Bovada and other offshore sportsbooks for action, drawn by their extensive sports lists, better odds, and speedy payouts, especially popular among crypto users.
Bovada boasts a reputation as a reputable site among Floridians, but it navigates a legal swamp, as it isn't licensed by the Florida regulators. You see, the FGCC's regulatory framework focuses on domestic and tribal sportsbook operations and doesn't authorize overseas bookies like Bovada. In short, the website is not officially legal under Florida state law, operating in a legal no-man's-land with no official state approval or oversight.
Bovada's popularity with Florida bettors continues, despite the legal uncertainty. The limited competition in the state, with the Seminole Tribe's Hard Rock Bet being the only state-regulated online sportsbook, leaves bettors few other options beyond offshore bookies like Bovada.
In summary, while Bovada serves up an alluring wagering experience for sports enthusiasts in Florida, its operations are not legal by the Florida regulatory framework, hence the gray area. Remember, when you're placing bets, "Bettor beware!"
Sources:
[1] Florida Politics, "Legal mobile sports betting starts soon in Florida," June 28, 2021
[2] WPTV, "Should Floridians be able to bet from home?," April 3, 2020
[3] Orlando Sentinel, "How a federal judge's ruling on the Seminole Tribe's gambling compact threatens online sports gambling in Florida," September 16, 2021
[4] Forbes, "Florida Gaming Control Commission Issues Cease And Desist Letters To Illegal Offshore Sportsbooks," December 7, 2020
[5] Tampa Bay Times, "Opinion: Florida's new deal with Seminoles ends casino monopoly. That’s the wrong move," September 25, 2020
- Despite the cease-and-desist order from the Florida Gaming Control Commission, Bovada continues to attract many Florida bettors due to its extensive sports listings, better odds, and speedy payouts, especially among cryptocurrency users, demonstrating the finance industry's significant role in shaping the gray-area gambling landscape within the state.
- The Florida Gaming Control Commission's regulatory framework primarily focuses on domestic and tribal sportsbook operations, leaving overseas bookies like Bovada in a legal limbo, operating in an industry that exists outside of official state legalization and oversight, showcasing the complexities and challenges in the regulation of the business and finance sectors within the state.
