00:00 [MUSIC]
00:05 For many years playing and still playing on FanDuel and DraftKings,
00:09 playing Daily Fantasy, but like other states that have sports betting being legalized,
00:13 it seems like immediately once that happens, they turn to the DFS operators and
00:17 say, hey, you ain't paying the same taxes, we don't want the competition.
00:21 We gotta figure out a way to get you out of here.
00:23 And it feels like that's what's happening here in Florida too.
00:26 Will this be successful?
00:27 Will the Daily Fantasy operators have to move out for
00:31 the Seminole Tribe having legal sports betting?
00:33 >> Right, so it's been a really interesting, unique case in Florida when it
00:37 comes to sports betting, and even more so when it comes to Daily Fantasy sports.
00:42 The Hard Rock app is back online, it's taking wagers.
00:45 And as you alluded to, basically as soon as that happened,
00:48 as soon as the court decision came out and said it could go back online,
00:51 all of a sudden the Florida Gaming Control Commission kind of woke up after,
00:55 I would say years of not really doing anything and
00:58 sent all these cease and desist orders to these companies.
01:01 Clarified that unless it's a platform that's ran through the Seminoles,
01:06 which have exclusivity over online sports betting in the state,
01:09 then it's probably illegal.
01:11 But the last time they really had said anything on that was in the 90s before
01:15 Daily Fantasy Sports even kind of emerged as a thought or
01:18 an idea before the Internet was even really established.
01:21 So technically, Daily Fantasy Sports, I guess,
01:25 has been illegal in Florida for years.
01:27 But like you said, the apps have been operating as if it wasn't illegal,
01:32 if it was legal.
01:34 So now you have this situation where there's one lawmaker in Florida
01:39 introducing a bill to try to exempt these Daily Fantasy Sports apps
01:44 sort of from the state's prohibition on gambling or strict definitions on gambling.
01:48 I would be shocked if this bill really goes anywhere just because of
01:52 the lobbying presence that the tribes have in the state, how hard it was.
01:57 Even for companies like DraftKings or
01:59 FanDuel to try to get a ballot circulating to legalize sports betting.
02:03 I'm sure they would see this as something that would cannibalize their business.
02:06 They're the only app in the state now.
02:09 You have that commercial that just came out about how like,
02:11 Hard Rock is the only one, it's the only one, it's the best one.
02:14 I don't think they'd be too happy about people going over to what is essentially
02:18 a sports betting adjacent product with all these player props.
02:21 Or sticking on FanDuel or DraftKings,
02:23 they definitely have some bad blood with those companies.
02:26 So I don't think this bill really goes anywhere.
02:28 It's kind of interesting that it sort of emerges at this time.
02:31 And we'll see what's next from the regulators if these companies continue to
02:35 operate, if they crack down even harder, or if it's just messaging and
02:38 they don't do anything.
02:39 So another interesting story in Florida as always.
02:42 [MUSIC]
Comments