Is Online Sports Betting legal in Florida? This question requires a two-step answer. The first step is to declare that it’s not illegal to take bets on sports in the State of Florida. This is because Florida doesn’t license or permit anyone to be online sports betting broker in the State.
What is considered legal for a sports betting site in Florida remains the same. It’s illegal, however, for an individual to operate an office or shop devoted exclusively to placing wagers on Florida sporting events. It’s also illegal for a person to hold any financial interest in or to serve as the agent for any company providing betting advice to Florida residents. The law assumes that if you’re not a licensed sports bettor, you’re not making financial investments in Florida – that means no commissions for sports betting brokerages, no fees for sports books and no income from gambling. Gambling, of course, is a completely different venture from betting on sports.
The second step is a bit trickier. While it’s not illegal for a person to operate a shop or office devoted to placing bets on Florida sporting events, a resident isn’t allowed to engage in the business for profit. Florida law puts sports betting odds into the same category as software license sales and software developer sales. Those are “commerce by trade” activities that typically involve an element of chance. The state considers software that provides information on Florida State athletic events to be gambling. The same is true of a sports betting site.
A review visit to a legitimate sportsbook will reveal the most popular lotto games. If you’re looking for the best odds on Florida State football games, your best bet will probably be the Seminoles. However, many Florida residents are spread a little thin and want other Florida State or University games reviewed. For that, they take online sports books and make a perusal of their reviews before betting on those teams.
Many online sports betting sites are owned by companies based in other states, but have local offices and staff in Florida. This enables them to transact with the Florida State Department of Financial Services. Those licensed Florida residents who operate gaming establishments are required to get a license to do so. Those seeking licenses should check with the Florida Department of Financial Services, Consumer Protection Division, Office of Business and Professional Regulations. Anyone betting with money or placing transactions with the intent of winning must get a license.
To open the online sports account in Florida, a resident must follow a process that varies from state to state. In some cases, a person needs to submit personal and banking information. He or she must then wait for approval and complete paperwork. Once approved, deposits and withdrawals can occur. Review visits by licensed sports books will confirm whether deposits are being returned promptly and if online sports betting is allowed.
After a licensed sports bettor has done the necessary paperwork, he or she may then place a wager on any given sporting event. Most sports book websites also allow a resident to enter events he or she chooses into the pool. Anyone who wants to place a sports bet in Florida, however, should first review the terms and conditions of that sports club. Some sports clubs will not allow residents to place bets.
If a resident does decide to place a bet, he or she must register at the website. Residents must then create a password to access their online sports account. Review visits by licensed sports books will confirm whether deposits are accepted and whether sports betting is allowed. Anyone making deposits and using their credit card must complete a complete and accurate credit card statement before being allowed to log into an online sports account.