The first year of online casino operations in Michigan was impressive as the industry generated total revenue of $1.4 billion. In the US online gambling history, Michigan is now the 3rd state to generate revenue exceeding $1 billion within one year.
Experts say that online betting in Michigan began to show success from the first time it was launched. Daily revenue collected in November and December averages at $3.6 to $3.9 million. According to experts, Michigan’s impressive record will continue to grow throughout 2022.
The bill that made online sports betting possible in Michigan
Michigan’s state representative worked closely with stakeholders to perfect the MI online sports betting legislation. The main reason why they worked hard to make sure the bill was passed was that they wanted to safeguard the citizens. The legislators were in support of the bill, and finally, Governor Gretchen Whitmer signed it in December 2019.
The bill today is commonly known as the Michigan model and other states have adopted it. The model protects tribal casinos, commercial casinos, consumers, and a fair tax rate. Its design has allowed sportsbooks to make profits while guaranteeing a safe playing ground for a healthy market that generates revenue for the state.
A growing number of online casinos in Michigan
Within one year of online betting, Michigan is home to at least ten online casinos. Gamblers can sign up to fresh launched online casinos like Play Gun Lake and get a chance to win money from table games, slots machines, poker, live dealer games and claim their bonuses as they are offered.
Sports betting is another area in which bettors who want to make money fast can try out their luck. They only need to predict which teams will win or the person that will make the most goals. If they are right, they get their money in an instant. Sports betting chances include NBA, NASCAR, MLB, UFC, boxing, and NFL.
Gambling in Michigan can be termed as one of the most lucrative sectors in 2021. Looking into the big numbers, online wagers recorded $3.7 billion, casino gaming recorded $1.1 billion, and sports betting $292.2 million.
These are huge figures that are likely to attract bettors to gamble more. One of the money-saving tips gamblers might want to know is the fact that gambling might cause addiction but if they gamble responsibly, the sector will continue to record continuous growth.
Benefits for tribal partners
The passing and signing of the online betting bill came at the right time. It was signed in December 2019 and in early 2020, the pandemic broke out and affected all land-based casinos in the entire US state. Access was closed for months, and workers spent days locked in their homes.
The tribal casinos use the revenue they collect to support their tribes. The closure of land-based casinos affected the tribal casinos, too, which means they were without this income. The launch of online casinos in Michigan was a blessing to the tribes because they were able to raise revenue that helped them weather the pandemic. Bettors didn’t require to leave their homes but they continued betting using their phones.