Florida to Raise Betting Limit on Poker!

In Florida, a bill was recently passed which raised the maximum betting limit in the state. Unless it gets vetoed, this new law will go into effect on July 1st, 2007. No doubt, high rollers in Florida couldn‘t be happier.

Poker is legal in Florida, but the maximum betting limit has traditionally been limited to $2, with a maximum of three raises allowed in any round of betting. The new law will increase that limit to $5 per raise. No Limit Texas Hold’em will also be allowed as long as the buy-in does not exceed $100. Rules for tournament poker are also included, with buy-ins (including rebuys) limited to less than 10 times what a player could wager on one hand of non-tournament poker.

While the new law does not increase casino hours, it does allow the casino to set their own hours of operation instead of having them dictated by the state. Pari-mutuel cardrooms can also now operate on any day, although licensing fees have increased.

There may be some room to maneuver for serious poker players, as the new law only specifies the limit of the “required” buy-in. Since tournament buy-ins are tied to the maximum amount that a player can wager on one hand in a No Limit game, there’s the possibility that cash games may be able to be increased by a far greater amount than is spelled out in the law.

Insiders expect a wave of $2/$4 games to spring up, and one cardroom is considering the introduction of a $2.50 chip for a $2.50/$5 game (this would be similar to the limit at the Tropicana in Atlantic City).

For more gambling news, take a look at the following:

Amateur Poker Tour Offices are Raided

Missouri Senate Eliminates $500 Loss Limit

Florida to Raise Betting Limit on Poker!