May
The Florida Legislature has approved further expansion to the state of poker. The expansion includes the abolition of a maximum buy-in for No Limit and bets per round for Fixed Limit.
The $100 maximum buy-in for no-limit poker games in Florida has been eradicated as the state updates its gambling legislation; there is now no maximum buy-in now. Also gone is the $1000 tournament buy-in ceiling, opening the door for the possibility of high stakes WSOP poker.
Bill SB 788 was the subject of contentious negotiations this week between Florida’s State Senate and House. Once a consensus version had been hammered out, the Senate first passed SB 788 by a vote of 31-9, while in the House, the vote was 82-35.
The 15-year agreement, pending the approval of the Seminole tribal nation, will generate at least $150 million in annual payments from the Seminoles to the state. Governor Charlie Crist will have until August 31st to negotiate a compact with the Seminoles, and then the Florida Legislature must approve the compact for the bill to go into effect.
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