FanDuel becoming central to sports betting legislation in Florida

US online gambling company FanDuel is attempting to sway authorities in the state of Florida to pass the bill to allow for online sports betting.

The latest revelation comes after it emerged that the operator had committed another $4.38 million to the state – the Florida Education Champions political committee as it attempts to gain favour with authorities. This is in anticipation of the proposal being included in the November 2022 ballot.

It is not only FanDuel that has made significant contributions in the state. Competitor DraftKings Inc have both dedicated in excess of $37 million to the scheme.

Deadline in place

Currently, there is a deadline of February next year in order to submit a petition to the state with 891,589 signatures. It would mean, that if the initiative became approved by voters, taxes from sports betting would be funnelled into the trust fund for state education.

FanDuel has contributed $14.38 million to the initiative already, while DraftKings has put $22.71 million towards it, as the two major players in the US online gambling industry attempt to convince voters that the taxes that could come from allowing online sports betting in the state can go towards helping to make a difference.

Should the deadline be met, it would be a significant step forward for Florida, which has always had a staunch anti-gambling policy. However, over the last couple of years, the global pandemic has forced states to take a serious look at how online gambling can help to inject much-needed funds back into the economy.

It would also likely mean that both FanDuel and DraftKings would likely be the two main sportsbooks in the state, in terms of popularity; particularly with how they have contributed so far.

However, if this is approved it would likely be towards the end of 2022 before online sports betting went live in the state.