Yesterday we reported that 18 sports betting licences are going to be issued in Virginia. As stated, the Virginia state lawmakers passed a bill that legalised both sports betting and other forms of gambling. In addition, there is a new bill in Alabama that should legalise sports betting in the state.
Today, we report on the sports betting situation in Michigan. Since it was announced that Michigan is coming closer to legalising sports betting, now the state is all set to start regulated sports betting on March 11. The legalisation comes just before the start of the NCAA March Madness tournament. Moreover, it is expected that the Michigan Gaming Control Board will authorise Detroit’s three commercial casinos to launch retail wagering.
All three casinos had met the requirements to begin sports betting
The Michigan Gaming Control Board announced that the MGM Grand, MotorCity and Greektown casinos had met all necessary requirements for launching sports betting. The board is expected to give final approval on its next meeting that is scheduled for today at 9:30 a.m. at Cadillac Place in Detroit. At the meeting, all three casinos are supposed to do presentations and say their final thoughts. After the approval, these casinos will be able to start sports betting operations from tomorrow, March 11, at 1 p.m.
The executive director of the Gaming Control Board, Richard S. Kalm, said that they had 11 weeks to prepare and worked hard to make the launch of on-site sports betting in Michigan possible before March Madness. Furthermore, the casinos and their suppliers shared the required information in order to help the regulator to authorise the gaming. As Richard S. Kalm said, they hope that Michigan citizens will enjoy this and will see the benefits from additional revenue from sports betting.
Michigan’s tribal casinos are allowed to open retail sports betting operations
In addition, Michigan’s tribal casinos are independently regulated and are currently allowed to open retail sports betting operations in the state. However, when it comes to online sports betting, they are subject to state regulations. So far, there are a couple of tribal casinos that have concluded partnerships with sports betting providers. For example, last week the Grand Traverse Band of Ottawa and Chippewa Indians announced that William Hill will open sports books in their casinos in Michigan.
New tax structures for online gaming and sports betting
Together with the sports betting legislation, the Michigan state set up new tax structures for online gaming and sports betting and modified the regulations for Detroit-area casinos. Under the new rules, 8.4% of the tax on sports bets will be collected after winnings are paid out. On the other side, taxes on Internet gambling will range around 20% to 28%, depending on the casino and its revenue.
Supporters of the new tax structures said that this would bring millions of dollars to the state. Most of that money is planned to be given to the School Aid Fund that funds K-12 schools in Michigan. Also, every year, $4 million will go to a fund for firefighters for fighting cancer due to the exposure to chemicals during their job.