FL S0124

Creates s. 550.6346, F.S., to authorize the Division of Pari-mutuel Wagering to regulate advance deposit wagering, where individuals deposit money into accounts to place pari-mutuel wagers by phone or electronic means

Permits advance deposit wagering only by permitholders under Chapter 550 or by operators who have division-approved agreements with permitholders

Prohibits individuals under 21 years of age from opening, owning, or accessing advance deposit wagering accounts, and requires age verification using division-approved methods

Restricts wagers to the amount of funds on deposit and requires all advertising to include statements about the age restriction

Limits Florida residents and individuals physically in the state to placing wagers only through division-authorized operators, addressing lost revenue from out-of-state wagering systems (Oregon hub system handle increased 47% from 2007-2012 while Florida pari-mutuel handle decreased 41%)