Sports Betting Laws
If you love sports betting, then you should consider a move to Florida. The sunshine state of Florida is well known for hosting a number of popular sports events and conventions such as the Daytona International Speedway, the Citicorp Grand Prix of Florida, the Disney World Golf Classic and the Winter Olympics. Florida also has a thriving professional soccer league ( Cosmos) and professional football ( Panthers) league. The latter, in particular, has produced several world-class players including Pele and Diego Maradona.
As is true in many other states, sports betting in Florida is highly regulated by the state’s Department of Financial Services. This agency sets and implements rules governing the sports books in the state, ensuring that punters win more from their bets. Although all sports books are required to be licensed and comply with various industry guidelines, not all sports books are duly registered with the department. Consequently, any wager that you place at a Florida sports book is subject to the Fine Motor Vehicle Act which makes it a crime to operate an unlicensed sports book. If you’re caught breaking this law, you face hefty fines and even jail time.
Regulated and authorized sports betting take place only within the state borders. For example, if you wanted to place a bet on an NBA game in Florida, you had better go to Florida and place your bet with a sports book licensed to do so. Most importantly, before placing your bet, you should check with your lawyer regarding any aspect of the law that might affect your chances of winning.
Understanding Sports Betting Laws in the State of Florida
Another major difference between the legal system in Florida and that of other states is that sports betting in Florida is deemed illegal unless conducted “as a business”. According to the state law, betting on sporting events held in another state is considered a business. In other words, if you wanted to make money off your sports bet, you’d better open a sports book in Florida, rent some NFL games and bet accordingly. However, it must be remembered that state laws pertaining to sports gambling are not the same across the board. Hence, it would be prudent for you to consult with your lawyer regarding the details.
Lastly, in case you’re a resident of Florida but you were prohibited from participating in sports gambling by another state, you have the option of appealing the decision to the Florida Supreme Court. If the court finds in your favor, then you can get your right to participate in betting legalized. As such, if you live in Florida but want to partake in betting on other states, you better make sure that you abide by Florida state laws, or else you might find yourself in serious legal trouble.
Therefore, for people who are living in Florida, it’s important to understand the sports betting laws in the state. The first step to understanding the ins and outs of the law is to get a sportsbook. Next, get in touch with your lawyer who can give you expert advice about how to legally participate in sports betting. Finally, if you think that you will engage in sports betting for the first time, then you should definitely check out an online sportsbook which allows you to bet across the country.
