Michigan sports betting updates
In December 2019, Michigan Governor Gretchen Whitmer signed off on the Lawful Gaming Act, which allowed nearly every type of online gambling provider in the state to apply for a license. In-person betting has been permitted since March 2020.
This timeline highlights milestones in MI sports betting history:
Aug. 20, 2024: Michigan’s online sportsbooks make history in July as operator earned its fourth-consecutive month with a double-digit win rate.
July 23, 2024: Michigan sports betting operators produce an 11% hold in June after winning nearly $32 million on a $285.2 million handle for the month.
July 17, 2024: The Michigan Gaming Control Board defends its efforts to combat illegal gambling within the state.
June 28, 2024: Michigan’s sportsbooks post a year-high hold in May of 12.1%.
June 20, 2024: Michigan’s gaming control board dissolves an illegal slot-machine operation at the Red Horse Bar in Saginaw, confiscating six machines during the raid.
June 14, 2024: Michigan nears its deadline to cease Bovada’s sports betting operation within the state.
June 6, 2024: Michigan regulators aim to be proactive with college sports betting issues to help student athletes within the state.
June 3, 2024: Michigan gaming officials may target Bovada’s sports betting suppliers if the offshore operator does not desist operations in the state.
May 30, 2024: The American Gaming Association supports Michigan’s crack down on offshore sportsbooks, encouraging other states to follow suit.
May 30, 2024: Michigan threatens Bovada with legal action via a cease-and-desist letter over conducting unlicensed sports betting and iGaming within the state.
May 27, 2024: The World Series of Poker launches a new online platform and creates a three-state summer series between Michigan, New Jersey, and Nevada.
May 22, 2024: Michigan sportsbooks enjoy a double-digit hold of 10.5% in April after reporting $414.4 million in monthly handle.
April 24, 2024: ESPN BET opens its first retail location at the Hollywood Casino at Greektown in Detroit.
April 18, 2024: Michigan’s betting revenue hits 2024 high in March, accepting $497.6 million in wagers during the month.
March 21, 2024: Michigan’s handle falls 30% in February, resulting in only three of the top six operators reporting a profit.
Feb. 22, 2024: Fanatics launches in Michigan, going live with its sportsbook and casino products.
Feb. 20, 2024: Michigan has $600 million handle for second consecutive month, earning a 43% YoY growth for January.
Feb. 8, 2024: Michigan Governor Gretchen Whitmer earmarks money for illegal sports betting battle, recommending that $1.9 million gets allocated for “Internet Gaming and Sports Betting Regulation” from the state’s 2025 fiscal year.
Jan. 20, 2024: Regulators tell three gaming companies to stop illegally operating in Michigan, citing a violation of the Lawful Gaming Act, the Lawful Sports Betting Act, the Michigan Gaming Control and Revenue Act, and the Michigan Penal Code.
Jan. 19, 2024: Michigan sees record-high $600 million handle in December, the state’s third straight record breaking month.
Nov. 2, 2023: ESPN BET plans to launch on Nov. 14, 2023, with online sports betting going live in 17 U.S. states, including Michigan.
Oct. 25, 2023: Michigan’s September sports betting handle doubles the previous month’s total. Sportsbooks take in $457.7 million, compared to just $228.4 million in August.
Sept. 4, 2023: Daily fantasy sports operators are under the microscope as a Michigan legislative committee accepts rules banning sports betting-like contests.
Aug. 31, 2023: FOX Bet officially shutters its operations in Michigan after a phased closure. Customers who still have a balance in their account can play on PokerStars and PokerStars with the same login.
June 22, 2023: Michigan’s retail betting market rose in May, but the statewide handle fell close to 10% year-over-year.
April 21, 2023: Revenue from Michigan sports betting grew significantly in March, with sportsbooks getting the better of Michigan bettors.
Feb. 24, 2023: Michigan’s sports betting handle declined in January, meaning MI bettors got the better of the sportsbooks.
Oct. 19, 2022: Michigan’s September sports betting handle increased 40% from August’s $229.7 million to $383.1 million.
Sept. 20, 2022: Michigan’s sports betting handle bounces back in August after the state’s sportsbooks take in over $229 million in total bets.
Aug. 19, 2022: Michigan sports betting dipped in July, with online and retail sports betting sites raking in nearly $225 million, down more than 20% from June.
Aug. 16, 2022: SI Sportsbook launches online operations in Michigan.
June 23, 2022: BetMGM officially opens its private live dealer studio in the state.
May 23, 2022: Michigan joins a multistate poker compact, allowing MI residents to play online with gamblers in Delaware, Nevada, and New Jersey.
April 14, 2022: Eagle Casino & Sports becomes the 15th online sports betting platform in Michigan.
Feb. 23, 2022: The Kalamazoo Wings become the first ECHL team to solidify an online sportsbook and iCasino partnership. The K-Wings strike a deal with Firekeepers Casino Hotel.
Feb. 16, 2022: Michigan sets its fifth-straight single-month record for sports betting handle in January, registering $532.7 million.
Jan. 13, 2022: Caesars Entertainment Inc. announces Caesars Sportsbook has been named the official sports betting and iGaming partner of Michigan State Athletics.
Dec. 30. 2021: Michigan will permit bettors to claim a state income tax deduction for gambling losses claimed on their federal tax return.
Dec. 21. 2021: Michigan sets a sports betting record for the third consecutive month, registering a new betting handle of $473.8 million in November.
November 2021: Saginaw Chippewa Gaming Enterprises agrees to a long-term, multi-channel sportsbook partnership with Kambi, a sports betting technology provider, to bring in-person betting to both Soaring Eagle Casino and Resort and Saganing Eagles Landing Casino and Hotel, as well as a new online sportsbook.
May 2021: Saginaw Chippewa Gaming Enterprises teams with GAN to handle its online sports betting and online casino operations, making it the last of 15 state casino operators to announce a partnership.
January 2021: Online sportsbooks officially launch in Michigan.
March 2020: Greektown Casino-Hotel and MGM Grand Detroit launch the state’s first retail sportsbooks.
Dec. 20, 2019: Governor Gretchen Whitmer signs HB 4916, the Lawful Sports Betting Act, into law. Gov. Whitmer encourages commercial and tribal casinos to apply for Michigan sports betting licenses.
2018: Former Michigan Gov. Rick Snyder vetoes the passing of a bill that would legalize online gambling in the state.
2017: Rep. Brandt Iden moves to pass online gambling legislation. Iden’s Lawful Internet Gaming Act was the first to include specific sports betting language to pass through the Committee on Regulatory Reform.
2015-16: Rep. Robert Kosowski lays the groundwork for legalized sports betting in Michigan by introducing legislation — Bills H 4669, H 4670, and H 5828 — that aims to allow casinos and third parties to offer sports betting in the state.
Source link : http://www.bing.com/news/apiclick.aspx?ref=FexRss&aid=&tid=66cb2b13512d41908df1be669e4b5ff2&url=https%3A%2F%2Fwww.covers.com%2Fbetting%2Fusa%2Fmichigan&c=2673665023969117357&mkt=en-us
Author :
Publish date : 2024-08-22 21:57:00
Copyright for syndicated content belongs to the linked Source.