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Michigan’s Sports Betting and Online Gambling To Bring $650M In First-Year Revenue, According to MichiganSharp.com


Sports betting and online casinos could produce as much as $93 million in first-year tax revenue in Michigan, according to projections from MichiganSharp.com.
The first of Michigan‘s online sports betting and casino platforms might launch by the end of 2020. This sets the stage for Michigan to become one of the top online gambling states in the U.S.
Competitive State Tax Rates Make for an Online Betting Hub
Gross revenue from sports betting, both online and retail, will be taxed at 8.4% from the state. Detroit‘s three commercial casinos pay an additional 1.25% city tax.
Michigan hosts 26 land-based casinos, all of which can be expected to offer sports betting and online gaming to the state’s 10-million population at some point.
“All of the pieces are in place for Michigan to become a major hub for sports betting and online gambling,” said Geoff Fisk, analyst for MichiganSharp.com. “Virtually all of the state’s casinos should want a piece of the new market, especially with the attractive tax rates.”
By comparison, New Jersey taxes land-based sports betting at 9.75% and online sportsbooks at 13%. Indiana‘s online sports betting tax is levied at 9.5%, while Pennsylvania taxes sports betting at 36%.
State lawmakers passed House Bill 4916 in December 2019, which legalized both retail and online sports betting. The bill also brings online casinos and online poker to the state, setting the stage for Michigan to become one of the biggest legal online gambling markets in the US.
All 26 of Michigan‘s retail casinos can apply for sports betting and internet gaming licenses through the Michigan Gaming Control Board. In a situation unique to Michigan, the state’s three commercial casinos, as well as the 23 tribal casinos, are eligible to offer internet gaming.
Online sports betting has proven massively successful in Pennsylvania and New Jersey. In both states, online wagering accounts for more than 80 percent of total sports betting revenue.
First-Year Revenue Projections of $650M, According to MichiganSharp.com
MichiganSharp.com projects that the state could bring in as much as $400 million in total first-year sports betting revenue, producing $33.6 million in tax revenue for the state.
“Mobile wagering should be the major revenue driver for Michigan‘s sports betting market,” Fisk said. “The convenience and ease of access of online sports betting opens up a whole new world of opportunities for both bettors and sportsbook operators.”
Online casino and poker revenue will be taxed at 20-28% from the state, using a tier system dependent on earnings. MichiganSharp.com projects that online casinos and poker could earn as much as $250 million in first-year operations, bringing in a possible $60 million in tax revenue.
MichiganSharp.com projects that total revenue from sports betting, online casinos, and online poker, could earn $650 million in year one of operations, resulting in $93.6 million in tax revenue for the state.
For more analysis and news on the latest developments in Michigan‘s legal gambling industry, visit MichiganSharp.com.
SOURCE MichiganSharp.com
Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Michigan’s Sports Betting and Online Gambling To Bring 0M In First-Year Revenue, According to MichiganSharp.com

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Tickets on sale for Helldorado Days Rodeo at the Plaza Hotel & Casino’s CORE Arena, Friday, Nov. 7 and Saturday, Nov. 8
Popular event bigger than ever with family-friendly festival, carnival games
The Helldorado Days Rodeo returns to downtown Las Vegas, Friday, Nov. 7 and Saturday, Nov. 8 at the CORE Arena at the Plaza Hotel & Casino. This year, the event will be bigger than ever before with the addition of a family-friendly festival before the rodeo excitement begins each night. The festival will include a petting zoo, a mechanical bull, carnival rides and games, line dancing, and more.
The Helldorado Days Rodeo is fully sanctioned by the Professional Rodeo Cowboys Association and the Women’s Professional Rodeo Association. The rodeo will feature bull riding, barrel racing, team roping, tie-down roping, steer wrestling, saddle bronc riding, breakaway, and bareback riding, with prize purses totaling $40,000.
The Helldorado Days Rodeo also features related western-themed events, like mutton bustin (a sheep riding competition for future cowboys and cowgirls who are 4-10 years old and under 60 pounds), a Whiskerino contest, and a historical exhibit area. The winning artwork of a children’s coloring contest will also be on display the first night.
After parties featuring country music acts will be held at the Sand Dollar Downtown after the rodeo concludes.
General admission tickets for the Helldorado Rodeo are now on sale online for $10 per person (plus taxes). VIP tickets for $30 each (plus taxes) offer guaranteed seating as well as access to an exclusive bar and restrooms.
Sponsored by the Commission for the Las Vegas Centennial and the Plaza Hotel & Casino, the mission of the Helldorado Days Rodeo is to bring the community together to celebrate the spirit of Old Las Vegas, including those who shaped the city’s history and those who are working to preserve the western lifestyle while looking toward the future.
Details about the Helldorado Days Rodeo, associated events, and sponsorships are at: plazahotelcasino.com/entertainment/helldorado-days-rodeo/.
The post Tickets on sale for Helldorado Days Rodeo at the Plaza Hotel & Casino’s CORE Arena, Friday, Nov. 7 and Saturday, Nov. 8 appeared first on European Gaming Industry News.
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SLOT MACHINE MANUFACTURER ZITRO UNVEILS NEW SLOTS FEATURING LIGHTING SYSTEMS TIMED TO GAME SEQUENCES
Casino goers enjoy slot machines for a whole host of reasons. Some enjoy their tried-and-true favorite games. Some people like discovering new games. Gaming manufacturer, Zitro, has just introduced slot games enclosed in a new cabinet called CONCEPT that synchronizes its Magic Lighting system to elements of the game and what a player sees on the screen.
Zitro launched the system at Pechanga Resort Casino just outside Temecula, California. Pechanga is among the first casinos in California to feature the CONCEPT cabinet and its upgraded and inviting technology. Pechanga guests can try their luck on Zitro’s Legendary Sword slot game, a medieval-themed, multi-game players like for immersive gameplay and standout features such as a four-level jackpot link, mystery-activated bonuses, and special in-game powers such as “Honor,” which multiplies rewards, “Glory,” which grants extra lives, and the “Magic Sword,” which doubles Link symbols on the boosted column. Players can experience up to seven Bonus Links, making each spin feel like part of an epic quest.
“We are committed to offering the best in gaming entertainment,” said Alex Rodriguez, Vice President of Slot Operations at Pechanga Resort Casino. “The CONCEPT cabinet and Legendary Sword slot machine bring incredible visual impact. We think our guests will love the new technology that brings all the elements of the game and the cabinet together.”
“We truly appreciate Pechanga’s continued trust in Zitro,” said Derik Moobery, CEO of Zitro USA. “Bringing the CONCEPT cabinet to Pechanga is a proud moment for us. We know they’re one of the busiest and most sought-after gaming establishments by both visitors and other gaming manufacturers. We’re confident that Legendary Sword will be a standout favorite among Pechanga’s players.”
Pechanga Resort Casino feature six Legendary Sword slot machines.
The post SLOT MACHINE MANUFACTURER ZITRO UNVEILS NEW SLOTS FEATURING LIGHTING SYSTEMS TIMED TO GAME SEQUENCES appeared first on European Gaming Industry News.
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EPIC partners with Underdog to deepen culture of responsible gaming
Attendees of the initial sessions noted positive anecdotal outcomes.
EPIC Global Solutions announced a new partnership with Underdog to further the sports gaming operator’s investment in responsible gaming education through a series of training and workshops.
As part of the partnership, customer-facing Underdog employees participated in gaming harm awareness sessions and VIP relationships workshops presented by EPIC staff, increasing Underdog staff’s ability to recognize potentially problematic gaming behaviors in their customers.
The sessions were led by consultants who shared their own experience of how different forms of gaming proved problematic in their lives, including former NCAA and NBA point guard Stevin ‘Hedake’ Smith and former boxer Liz Thielen, and provided Underdog staff the chance to explore the human side of harm through a gaming-neutral lens.
EPIC’s VP North America Teresa Fiore noted: “We’re very pleased with the positive start to our working relationship with Underdog. They have a deep understanding that responsible gaming practices must be at the core for any major operator, and it’s a constant and consistent process of learning and attentiveness. It’s clear from the session feedback that the responsible gaming message we share – influenced by the lived experience of our team – is making a difference to Underdog’s staff in a way that will further enhance their communication and customer relationships in a positive way.”
The training and workshops promoted business sustainability and customer protection by exploring communication techniques and best practices to foster healthy customer relationships.
“Partnering with EPIC has reinforced the culture of responsible gaming that we are building at Underdog,” said Adam Warrington, Vice President of Responsible Gaming at Underdog. “We look forward to furthering the understanding of responsible gaming within Underdog and continuing to participate in training sessions and workshops to deepen our player protection knowledge.”
Attendees noted positive anecdotal outcomes, such as learning ‘the nuances of messaging’ and how to ‘dive deeper to get to the bottom of what messaging could be problematic’ and taking the message of ‘direct experiences to help understand how people are impacted’.
The post EPIC partners with Underdog to deepen culture of responsible gaming appeared first on European Gaming Industry News.
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