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Fantasy Sports Not a Sure Bet but better then 50/50

January 27th, 2016 by Mike Vasilinda

While other states are declaring fantasy sports betting illegal, Florida is moving to regulate the games, and as Mike Vasilinda tells us, one of the reasons is it’s popularity.

“75 million a week” is how one TV commercial describes the winnings for a fantasy sports website.

Nevada has said no to fantasy sports. New York also thinks the games are illegal. Florida is going the other way. Sponsor Joe Negron (R-Stuart)  wants regulation, not elimination.

“If we have essentially hundreds of millions of dollars being paid by Floridians to participate in contests, we want to make sure they are done properly” says Negron.

Operators would pay a five hundred thousand dollar registration fee; Then  A hundred thousand to renew their licenses every year. They must also post a million dollar bond.

The legislation carries a five thousand dollar fine for violations but no criminal penalties. That bothered competitors. Like Automated Wagering Lobbyist Marc Dunbar.

“So It would make it the only gambling activity that has no criminal penalties what so ever” Dunbar told the Senate committee.

Senators have been swamped with email from players who want more..not less.

Sen. Anitre Flores (R-Miami) says it is dinner table conversation for many.)

“Real people, real constituents have emailed, called, texted me” Flores told the Committee,

In the end, the sponsor says it wold be impractical to make the games illegal.

“But I don’t think any one wants to criminalize an activity that three million law abiding Floridians are engaged in” says Negron.

The legalization of fantasy sports still isn’t a sure bet, in part, because most gaming interests oppose it.

Chairman Rob Bradley was one of two no votes.

“So I would like to see some courts enter some ruling after hearing evidence” Bradley said afterward.

The sponsor is in line to be the next Senate President, which gives the fantasy betting  better than a 50/50 chance of being legitimized.

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