The state of Florida and the Seminole Tribe of Florida will be raking in hundreds of millions of dollars from online sports betting this decade, thanks to a compact between the tribe and Gov. Ron DeSantis that gave the tribe exclusive rights to run sports wagers as well as casino gambling on its reservations. But are these online wagers on the outcome of sporting events legally on tribal land, when really only the computer servers are located there, accepting bets made using mobile phones and computers from anywhere in Florida? Pictured: The guitar shaped hotel at the Seminole Hard Rock Hotel and Casino in Hollywood, Fla. (Brynn Anderson/AP)
Fox Corp. and Flutter Entertainment Plc plan to wind down their Fox Bet online wagering business starting on Aug. 1, according to people familiar with the plans. Flutter, parent of the competing betting service FanDuel, will keep the customer database and market-access agreements associated with the business, said the people, who asked not be identified since the decision hasn’t been announced. An announcement could come today.
Sports betting giant DraftKings will go public as part of a $3.3 billion, three-way merger with SBTech and Diamond Eagle Acquisition Corp., a firm founded by Hollywood veterans Harry Sloan and Jeff Sagansky. With legal restrictions around sports wagering beginning to ease across the country, DraftKings has been a leading participant in the rising tide of revenue from fantasy sports and mobile betting.
