Subject to a signature from Governor Gretchen Whitmer, Michigan should soon be able to allow legalized sports betting at the state’s trio of commercial casinos and 23 tribal gaming venues. Bill 4916, which proposed legal sports wagering in the state, was signed off by senators this week and will now proceed to the Michigan House of Representatives.
The bill was passed as part of a wider gambling package that will allow eligible visitors and residents to wager on sporting events as well as play digital blackjack, slot machines and poker.
Under the terms of the new legislation, operators will have to pay an application fee of $50,000, plus $100,000 for a sports betting licence and $50,000 per year thereafter. The tax rate has been set at 8.4% on adjusted gross revenue from sports wagers, with a further 1.25% city tax levied to Detroit.
Interestingly, operators offering in-play betting will be required to use only official data from the leagues, although there is wriggle room for appeal to the Michigan Gaming Control Board if it can be proven that those data costs are deemed to be commercially unviable. Furthermore, operators will be limited to just one internet sports betting platform.
All being well and going to plan, Michigan sports fans could be in a position to place wagers in time for next year’s March Madness basketball tournament. At least that’s the main hope for Republican Brandt Iden, one of the backers of the bill.