The gambling industry in the United States has seen an expansion this year. Many states have legalised some form of gambling and approved a number of operating licences. Some set iGaming revenue records in 2020, while others welcomed new sportsbooks. Virginia, for example, is one of the states that saw a record number in betting applications. On the other hand, Michigan is closer to legalising online sports betting. On Friday, the Michigan Gaming Control Board (MGCB) announced it had approved provisional gaming licences for 15 operators that will support the state’s commercial and tribal casinos’ online gaming offerings.
Launch won’t happen until after the holidays
After it was reported that Michigan speeded up the process of launching online gaming, the Michigan Gaming Control Board confirmed it had approved 15 provisional gaming licences for the online gambling and sports betting partners of the state’s commercial and tribal casinos. Some of the operators that received licences include BetMGM, DraftKings, FanDuel, Fox Bet, GAN, Golden Nugget, Kambi, and NYX Digital Gaming. Also, provisional licences were issued to Parx Interactive, Penn Sports, PointsBet, Rush Street, Churchill Downs Inc’s TwinSpires, William Hill and Wynn Sports.
However, the issued licences won’t be active and launch won’t happen until after the holidays. Still, the operators were given the approval to progress with setting up the process to start offering their services to the players. As for when any of these operators might launch, MGCB executive director Richard Kalm said that it will depend on how quickly the operators meet other regulatory requirements. This includes independent testing of platforms and games, approval of internal controls and securing occupational licences for certain employees.
The Board has allowed operators to set up applications in the app stores before the launch. Michigan residents can download the apps and create accounts, but they won’t be able to wager. The state has also eased the self-exclusion rules last month as they were too restrictive. While Michigan players hope to be able to wager before the Christmas holidays, it’s up to see what will happen. Currently, the MGCB’s iGaming page displays a calendar which shows that the products are coming in “early 2021”.
New Jersey broke its own national revenue record
You might remember that we reported how New Jersey set a record in sports betting handle in October. Well, the state succeeded to broke its own national record and set a new one in November, nearing $1 billion for a single month.
The new monthly record for New Jersey is $931,620,415, compared to the $803 million set in October. What’s more, the November 2020 total for New Jersey was a 65% increase over the record set in November 2019. It also surpassed $5 billion in the total handle through 2020. The online handle for New Jersey sportsbooks in November was $872 million, an increase of 17.2% over October. In addition, the November figures for New Jersey are a new record for monthly online sports betting handle, statewide and nationally.
Lawmakers in New Jersey are doing their best to offer the sports bettors more options and to continue increasing their revenue figures. They recently proposed allowing college sports betting in New Jersey that will allow betting on all college sports events and Division I college sports teams.