Michigan Could See Online Sports Betting in 2020
The state of Michigan has been hoping to launch online sports betting at some point in December 2020, and that possibility became a reality earlier this week.
There are still some steps that need to happen, but online operators are starting to have hope for the first time.
The Joint Committee on Administrative Rules had 15 days to review the MI sports betting rules, or they could waive that time. The Joint Committee on Administrative Rules has agreed to waive that right, allowing the Michigan Gaming Control Board to begin the licensing process.
The Michigan Gaming Control board has already received several applications for a sports betting license, and several of these have already been issued. Both FanDuel Sportsbook and DraftKings Sportsbook have already started pre-registering customers for the sportsbook.
The decision from the rules committee will allow for sports betting to launch at some point in 2020, but only a few operators are expected to be ready to go. Still, this is great news for the industry and for the sports bettors that have been waiting for this day.
Not only will online sports betting launch soon in the state of Michigan, but online casino gambling will also be available. Governor Gretchen Whitmer signed an expanded gambling law in 2019 that made the iGaming industry legal.
Several casinos in the state have already partnered with other companies to help provide online casino gambling. There are currently just four states that offer iGaming, and Michigan is set to become the fifth.
There will be 15 sports betting licenses available when the industry is fully functional, and Michigan could become a huge player in the United States. There are just three commercial casinos, all in Detroit, but the state has at least 24 tribal casinos in operation.
Betting on the NFL regular season is now a real possibility, but it is almost guaranteed that online sports betting will be in place for the Super Bowl.
Retail Not Producing Big Numbers
Retail sports betting officially launched in the state of Michigan in March 2020, but that side of things has not produced huge numbers. The COVID-19 pandemic effectively shut down the industry as soon as it began as casinos were closed and most live sporting events were canceled.
Since the beginning of March, retail sports betting has totaled just $96 million as most retail sportsbooks are closed once again. These numbers are well short of other states around the country, and especially in the Midwest.
Total sports betting revenue up to this point is just $14.1 million, and the state desperately needs more income from this industry. This is playing a key factor in lawmakers working to get online sports betting up and running much quicker than initially planned.
When online sports betting launches, bettors from across the state will be able to place bets as opposed to traveling across the border into other locations. Online and mobile betting is expected to account for more than 80 percent of all of the betting action when it is launched.
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