00:00OK, so could we get some fun here in Wisconsin? Is it possible sports betting could be headed the Badger
00:06State's way here? It looks like there is some potential for this, Sam. It's headed to the governor. But, you
00:12know, one of the, I guess, dynamics involved is very similar to my home state here of Florida. It seems
00:16like the tribal entities would be involved in some way as well. Is that accurate?
00:22Yeah, you got that exactly right, Craig. It's not just as easy as passing a sports betting bill, which is
00:27not going to the governor in Wisconsin, who, by the way, has signaled his support for it.
00:32Even despite all that, it's not so easy to get this off the ground because it follows that tribal model
00:37that you alluded to that Florida follows as well.
00:40Wisconsin has 11 tribes under this model that would be allowed to offer control online sports betting.
00:48So tribal exclusive versus a commercial model that pretty much every other or most of the other states have had.
00:54The servers would have to exist on tribal land and then tribes would have to partner then with DraftKings, FanDuel.
01:01But it's already really the way that gaming works in Wisconsin.
01:04Tribes gave about $66 million in revenue to the state last year.
01:08So this law, if this bill, if it becomes law, would kind of just be an extension of this existing
01:13model, which is part of the reason it didn't pass cleanly.
01:17It needed bipartisan support, which is unusual.
01:20It actually split the Republican Party internally in the state when voting for it, with some lawmakers calling it a
01:26very corrupt process.
01:27And another actually came out and warned leadership not to bring it to a vote.
01:32So very interesting with the political dynamics as well in the state.
01:36And then once you have all once you have it getting passed by the governor, eventually then the tribes have
01:43to renegotiate their contract with the state because, you know, tribes operate very differently than, you know, commercial entity.
01:49And because tribes are, you know, they have sovereignty, but they're federally overseen, once they renegotiate that compact, then the
01:57federal agency that oversees tribes would have to approve it.
02:00So it might take a long time to get off the ground, certainly not by the end of this tournament,
02:05maybe not by the end of next tournament, but hopefully sooner rather than later.
02:08But I would say it is a good sign that obviously Wisconsin has finally passed something, but as with always
02:14in this kind of, you know, bureaucratic process, there's always more steps and it always takes a lot longer than
02:19you think it might.
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