Michigan online sports betting has been moving at a slower pace than expected over the past several months. However, there’s a glimmer of hope for Michiganders eagerly awaiting the state’s sports betting launch.
The Michigan Gaming Control Board has a meeting set up for Tuesday, January 12th. The meeting will take place at 9:30 am est.
The hope has been that sportsbooks would be set for a launch before the end of January. Now, it appears Michigan is closer than ever to launching online sports betting.
In an email to MichiganSharp.com, Michigan Gaming Control Board Communications Specialist Mary Kay Bean via email said:
“In mid-January, the Michigan Gaming Control Board expects to announce the first group of operators eligible to accept wagers. We expect they will start accepting wagers later in the month. By law, that first group must include one tribal operator and one commercial operator.
The timing and way the MGCB authorizes launch depend on how quickly the applicants meet regulatory requirements and submit all required information.
We should know soon whether we can authorize the launch of online gaming at the same time as sports wagering, or whether there may be a delay for online gaming.”
Michigan Expects To Launch Legal Online Sports Betting In January
In December, Michigan issued fifteen provisional licenses to major online sports sportsbooks. The disbursement of provisional licenses signals that online sports betting legalization is near.
Sportsbooks like BetRivers, BetMGM, DraftKings, FanDuel, and many others have been granted a provisional license.
The MGCB has not had a meeting since November. The December MGCB meeting was canceled due to COVID-19 related shutdowns.
There appears to finally be clarity that online sports betting will be legal shortly
Super Bowl LV Sports Betting Could Give Michigan Millions In Tax Revenue
The most important thing for Michigan has always been about maximizing opportunity. Football is the most bet on sport in the country and it is not particularly close.
Furthermore, the Super Bowl is the most bet-on sporting event in the US. This leads to an estimated $6 billion dollars wagered on Super Bowl LIII according to the American Gaming Association.
The major caveat to these outlandish numbers is that not enough of it has been bet with legal sportsbooks.
The opportunity cost of not having legal online sports betting is massive. In 2019, only a handful of states had legal sports betting. However, of the $6 billion wagered, only $325 million was bet with legal sportsbooks.
In order for Michigan to get a piece of the online sports betting revenue, they must clear sportsbooks for launch prior to February 7, 2021.
Casinos have begun to reopen in Michigan, giving fans the option of going to a retail market to bet.