Florida Still Has Chance to Have Competitive Online Casino Market

The recent court victories of Seminole Gaming has seen them gain significant control over the operations of online gambling in The Sunshine State. However, this doesn’t mean that Florida residents won’t have options for their online casino needs, as far as Seminole Gaming CEO Jim Allen asserts.

According to Allen, Seminole Gaming could see value in a semi-competitive space, and will set the terms for any other potential players in the market. 

What is the Current Status of Online Gambling and Casinos in Florida?

Currently, the only online casino operator available for Floridians is the Hard Rock Sportsbook App, which is the regulated option for those who want to partake in sports wagering. Hard Rock currently does have an online casino platform that is available in the New Jersey market. Seminole Gaming does technically have market access in Michigan although it has yet to pull the trigger on this.

In order to do this, the Seminole Tribe of Florida at some point will look to revise its gaming compact with Florida and the US government to expand its control to online casino play across the jurisdictions and territories of Florida. Once the Seminole Tribe acts on such an expansion, it can allow them to operate Hard Rock’s online casino and make it available to the Florida residents who are looking forward to experiencing online casinos legally in their state.

Other Players Need to Play Ball with Seminole Gaming

Online casino operators who wish to get into the Florida market will need to comply with the terms Seminole Gaming will set in the event they would establish an online casino space for potential competitors. Currently, Seminole Gaming’s gaming compact does allow the Seminole Tribe of Florida to essentially “license” out the ability to offer online sports wagering in Florida. That same concept could be part of a new online casino amendment to the compact.

However, if the Seminole Tribe wants to venture into online casino gaming, they would need to revise the gaming compact and go through another round of legal proceedings before it bears fruit. Allen noted that the Seminole Tribe and Hard Rock sees the potential of having more players in the market to ensure that everyone who’s in knows the rules and plays ball with the Seminole Tribe.

“We do recognize that long-term, some type of strategic relationship with some of the brands that really have marquee value could be helpful to both of us, and we’re receptive to those conversations,” Allen added.

Moreover, Contessa Brewer of CNBC has reported that Allen and Hard Rock have “developed a really great relationship with” DraftKings and FanDuel. 

Negotiations are On the Table

Given the stringent legal requirements of operating online casinos or sports wagering in Florida, it doesn’t mean that once other players want in and acquiesce to Hard Rock’s terms, Allen and the Seminole Tribe are open to potential operators who wish to negotiate.

According to data from multiple US jurisdictions, it is suggested that having a competitive market versus a single operator industry for regulated online gambling creates more revenue. As one example, dollars wagered on licensed sportsbooks in Washington, DC amounted to almost $40.6 million for August 2024.

That said, an open market carries the risk for Seminole Gaming to potentially get outperformed by the competitors they invited in the market. But under the probable compact terms, though, Hard Rock would still be on the winning side. As it stands, Florida residents should not hold their breath for these online casino platforms to become available in their state any time soon. Negotiations between Florida and the Seminole Tribe on a new compact amendment have not even begun, as far as the Tribe has confirmed. 

While they’ve noted the establishment of good relationships between other potential competitors, the Seminole Tribe would first need to clear the legal hurdles in setting up an online casino environment for The Sunshine State, and it would take years before they can begin laying down its foundations.

Still, the receptive status of the Seminole Tribe and Hard Rock gives some glimmer of hope that online casinos can one day spring up in Florida.