Michigan Cleared For Online Sports BettingJake Cooper | 08 Dec 2020
It would appear as if Michigan’s online sports betting regulation struggles are finally about to come to an end. Initially scheduled to launch in December 2020, several delays have since bumped up the anticipated date well into next year, only to be routed round the corner and wall the way back to this month a second time round.
Last month’s delay was brought about by a review process pertaining to the Administrative Rules. Conducted by the state’s Joint Committee, the 15-day permissible review process has now at long last been waived and the go-ahead for the commencement of the licensing process given to the Michigan Gaming Control Board. All of this now means the legalisation and regulation of online sports betting in the Wolverine State is officially back on track for the final days of 2020.
Regulation A Priority
The regulation of online sports betting is considered a priority agenda by the Joint Committee, Chairman Senator Pete Lucido has said. It’s a process long overdue and one eagerly awaited by many in the state. Regulation is expected to help the state to mitigate the damages caused by the global health crisis, and the intention is for the state to follow the example of success set by so many other U.S. states.
Had the process been delayed any further, said Lucido, Michigan would have continued to lose out on valuable opportunities for additional revenue income. Land-based sports betting was already legalised by Michigan lawmakers in March 2020.
Banking On Revival
Michigan’s gambling scene is currently considered a struggling industry. Lawmakers hope that by successfully awarding the 15 online betting licenses allocated to the state, bookmakers will be in a position to play a pivotal role in helping the state recover from the effects of the global health crisis now turned major financial crisis.
Online operators looking to apply for a licence to offer online sports betting products to Michigan residents will have to first team up with a land-based partner. This is a pre-requisite for being awarded an online sports betting licence. Since Detroit casinos have been closed at intermittent periods all throughout the year, and most recently since mid-November, a legalised sports betting industry in partnership with a land-based casino and betting industry is considered a necessary course of action for the survival of the entire industry as a whole.
The hope is that Michigan will eventually begin to mimic at least a part of New Jersey’s incredible online sports betting success. The Garden State this October saw online sports betting revenue accounting for an incredible 94% of the state’s total gambling revenue.