Legal Sports Betting News: Florida Launch In Question With Stay Mandate
The Florida sports betting news saga continues. Following the denial of West Flagler’s request for a rehearing, a stay of mandate was requested. If granted, the potential re-launching of Florida sports betting will be delayed yet again.
In other sports betting news, New Jersey reached $40 billion in lifetime wagers. Illinois also reached a major milestone, collecting $2 billion in adjusted gross revenue since launch. We will break down all the recent happenings in the industry.
Florida Sports Betting Sees Yet Another Hurdle
It was expected for West Flager to file a stay of mandate in an effort to prevent the Seminole Tribe from relaunching sports betting in Florida. With West Flagler bringing the case to the Supreme Court, the stay would halt all action until things are settled.
The question now is, will it be granted? Online sports betting in Florida could launch this week based on the results of the D.C. Circuit Court. With the court ruling in Florida’s favor, this stay of mandate is the only thing preventing a launch. The Seminole Tribe have given no indication of their plans to launch, likely waiting on the Supreme Court.
Should the Supreme Court deny the stay of mandate, nothing will be standing in Florida’s way from launching. Even if West Flagler pushes the case further, the Hard Rock Bet app could legally launch in Florida again.
Even Florida Gov. Ron DeSantis believes a launch is incoming; representatives stated “there’s nothing stopping” Hard Rock Bet from launching. Florida locals may have access to a regulated sportsbook this week.
New Jersey Reaches $40 Billion Milestone
In the post-PASPA era, New Jersey now sits as the first state to reach $40 billion in wagers. NJ sportsbooks have consistently been in the top three in betting since going live. For many years, NJ was the number one market, being usurped by New York once it launched in 2022.
Still, the years of dominance have pushed the Garden State to new heights with $40 billion in lifetime wagers. This was achieved with the August 2023 revenue report showing $725,849,450 was wagered on the month. Year to date handle has reached $6,472,204,153.
New Jersey sports betting was dominated by online operators yet again. Of the total betting handle in August, 96.03% came from online operators, $697,069,628. New Jersey is only expected to continue its rain as one of the biggest sports betting states going forward.
Illinois Collects $2 Billion In Sports Betting Revenue
Sportsbooks in Illinois have combined for $2 billion in adjusted gross revenue (AGR). This marks only the third market to do so in the post-PASPA era, joining New Jersey and New York. The Illinois Gaming Board released July’s sports wagering monthly report revealing the milestone. Operators collected $60.4 million in AGR.
The Prairie State collected $9.1 million in taxes for July. Year to date, the state has seen $83.3 million in tax revenue from local sportsbooks. Revenue is so far up 43.4% compared to this time in 2022. With this strong growth, Illinois’s successful market is showing no signs of slowing down.