Summary: As online gambling becomes even closer to becoming a reality in Michigan, the state prepares to bring more jobs to the region along with other benefits.
As sports betting has taken center stage in the United States, online gambling has taken a step back. States are more focused on passing legislation involving sports wagering instead of focusing on online casino and poker gaming. However, last week, Michigan brought online gaming back to the forefront by passing an online gambling bill during the final hours of their legislative session.
The bill just needs to be signed by Governor Rick Snyder and sports betting will become law. It is very likely that the bill will become law, which will see Michigan become the 5th state in the US to legalize the online option.
What’s to Come?
If sports betting is legalized, then Michigan expects to see similar earnings to that of New Jersey. The state of New Jersey has been the most successful when compared to Delaware and Nevada, as they are the top earner each and every month.
Victor Strategies Executive Vice President Gene Johnson recently spoke with Online Poker Report discussing the incoming sports betting industry for Michigan. Johnson stated that online gaming has generated close to $1 billion over the first three years of operation. Michigan should see similar benefits, according to the analyst.
Because New Jersey was one of the first to launch online gaming, other states can benefit from their struggles. Michigan can avoid early on issues and benefit from learning what New Jersey went through and making the appropriate changes or decisions with their operations.
Online gambling will not only provide options for players but it will also boost the land-based gaming industry of the state. Jobs will be created, which will benefit residents of the state who need employment. According to a paper titled Economic Impact of New Jersey Online Gaming: Lessons Learned, co-authored by Johnson, the new industry will bring jobs to Michigan.
The paper reported that just over 3,300 jobs were created in New Jersey due to online ambling and employee wages came in at just over $218 million. The numbers include info from 2014 to 2016, with the paper produced in 2017.
Ready for Gaming
Residents of Michigan are certainly ready for gaming. In the region, there are only a few options for land-based casinos, with three commercial casinos located in Detroit. There are tribal venues in the state, but of course no online options. With online gaming in place, Michigan residents would be able to access gaming from any region in the state. Visitors as well, as long as they are located within the borders of the state.
In New Jersey, Delaware and Nevada, there are top iGaming operators in business, including such companies as Caesars Entertainment Corp., 888 Holdings, PokerStars, WSOP, Golden Nugget and more. Such operators should have the opportunity to take vie for licensing to offer services in the state once online gaming is passed into law.
We imagine that as 2019 begins, such operators will begin to apply for licensing or seek partnerships with the gaming venues of the state. We should see a mix of operators working with commercial as well as tribal venues to begin online operations. The New Year will certainly be exciting as we get to see just how Michigan will be implementing their new online gaming industry.