Worth the Wait: Michigan Eyes Huge 2021 From Online Gaming
The launch of the online sports betting and iGaming markets have been highly anticipated since Gov. Gretchen Whitmer signed the gaming legislation into law on Dec. 20, 2019.
Colorado, one of the fastest-growing markets, took just over six months from voter to since its launch date of May 1, 2020. When it did launch, it became one of the strongest sports betting markets in the country.
Michigan is expected to launch mobile sports betting in mid January. With a large population and a competitive tax rate, Michigan’s mobile sports betting market could rival some of the more lucrative U.S. markets and continue the progression of mobile wagering nationwide.
It could be bigger than Colorado, which posted $231 million in total sports betting handle for November. With retail and mobile sports at commercial and tribal casinos, iGaming, including online poker (the legislature just approved an interstate poker bill), Michigan sportsbooks should hit the ground running.
The Michigan Gaming Control Board in mid December approved provisional licenses for 15 platform providers, including BetMGM, DraftKings, FanDuel, PointsBet, William Hill, Rush Street Interactive and Penn National.
The MGCB also recently added 11 new sports betting options to its catalog for a total of 23 sports available. The sports catalog can be accessed through the MGCB website.
What to Expect in Michigan
It would be fair to expect that Michigan’s market will settle in somewhere between Indiana, which topped $250 million in handle in November, 85% of it on mobile, and Illinois, which saw $434.6 million in October (November figures aren’t out for Illinois), 94.3% mobile.
It might not start out hitting $300 million, but given the mobile access, favorable laws for stakeholders and commercial and tribal sports betting options, the market should be booming relatively quickly.
Bright and sunny. This is one of the more-anticipated launches since PASPA was overturned in May 2018. Michigan will become the first state with commercial and Native American casinos as well as online sports and casino gaming (including poker). And home teams to bet on every major sports league. This state will definitely be one to watch.
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