Michigan online sports betting

Thanks to 97.1 for this:

The Michigan Gaming Control Board has authorized online gaming and sports betting, beginning at Noon on Friday, Jan. 22, 2021.

“The Michigan Gaming Control Board and the state’s commercial and tribal casinos will begin a new era Jan. 22 with the launch of regulated online gaming and sports betting,” said Richard Kalm, MGCB executive director.

“Michigan residents love sports and, judging by inquiries we’ve received, eagerly anticipate using mobile devices to place bets through the commercial and tribal casinos. Online gaming and sports betting will provide the casinos with new ways to engage with customers while the state and local communities will benefit from taxes and payments on wagering revenue.”

The operators authorized to begin online offerings Jan. 22 are:

Michigan online sports betting

The days between authorization and launch will give the operators and platform providers additional time for testing and adjustments before the gaming goes live, Kalm said.

The MGCB expects to authorize additional operators and platform providers in the coming days and weeks as agency staff review other submissions to ensure they meet the state’s regulatory requirements. Controls to ensure safety and fairness for bettors have been key concerns for the MGCB.

“We want the public to have confidence when they place wagers, and our agency has required the providers to prove they meet Michigan’s standards, which are designed to protect the participants,” Kalm said.

Taxes and Payment Rates

The tax and payment rate for online sports betting is 8.4%.

The tax and payment rate for internet gaming ranges from about 20% to 28%.

The Detroit casinos also may be required to pay a municipal services fee and a development agreement payment to the city of Detroit.

Tax Allocations

For the Detroit casinos, online sports betting and internet gaming taxes are allocated:

– 30% to the city of Detroit
– 5% to the Michigan Agriculture Equine Industry Development Fund (up to $3 million per year from each tax source)
– 65% to the state Internet Sports Betting Fund or the state Internet Gaming Fund

For internet gaming, a hold-harmless provision seeks to help the city recoup lost gaming tax revenue if the city of Detroit collects less than $183 million in a fiscal year.

For the tribal casinos:

– Online Sports Betting: Payments by tribes are allocated to the Internet Sports Betting Fund (90% percent) and the Michigan Strategic Fund (10%)
– Internet Gaming: Payments by tribes are allocated 20%to local jurisdiction governing body for services, 70% to the state Internet Gaming Fund and 10% to the Michigan Strategic Fund.

Internet Sports Betting Fund/Internet Gaming Fund

Other money collected under these acts will be used for:

– Appropriated funding for MGCB
– The Compulsive Gaming Prevention Fund ($500,000 annually after board expenditures)
– The First Responder Presumed Coverage Fund ($2 million after board expenditures and compulsive gambling fund)
– The State School Aid Fund (all money remaining after the above expenditures)

Resources

The MGCB has published FAQs, patron dispute forms and a sports wagering catalog on its website

https://www.michigan.gov/mgcb

The platform providers’ websites will have information on establishing an account as well as self-exclusion options for problem gamblers.

The Michigan Department of Health and Human Services maintains a 24-hour, toll-free, gambling-problem helpline, 1-800-270-7117.

Michigan online sports betting

Thanks to Fox for this one:

Barstool Sportsbook app approved to launch in Michigan

The company plans to launch its Barstool Sportsbook mobile app in Michigan on Friday, Jan. 22 and iCasino products are expected to follow shortly thereafter pending final regulatory approvals.

The official launch comes following the opening of Penn’s retail Barstool Sportsbook location at Greektown Casino Hall in downtown Detroit last month.

report by VIXIO GamblingCompliance estimates that that at least six and as many as 14 additional states will legalize or expand sports betting in 2021. In addition, the company estimated revenue from sports betting could reach $2.6 billion to $3.1 billion this year and $10 billion by 2025.

From 12 p.m. on Jan. 22 to 11:59 p.m. on Jan. 24, Michigan residents will have their first-time deposit on the Barstool Sportsbook mobile app matched with a donation to The Barstool Fund, provided they wager equal or more than their first-time deposit during the weekend. In addition, visitors to the retail Barstool Sportsbook at Greektown will have their first-time rated wager matched by Greektown Casino with a donation to Fund.

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