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Sports Betting

Colorado’s Sports Betting Industry is Already Surging

Nickolas BransonBy Nickolas Branson

On May 1st, 2020, Colorado became the 18th state to launch its regulated sports betting industry. It’s becoming clear that this was a great move by “The Centennial State.” According to new reports, Colorado’s sports betting industry continues to bring in huge amounts of revenue.Colorado Flag Picture

Sports betting is growing more popular around the country every month. More states are now beginning to take a look at legalizing and regulating this industry. Today, we’re going to check out exactly how much money the sports betting platforms in Colorado managed to bring in last month.

Online Sports Betting is More Popular Than Ever Before

Since March, the entire US gambling industry has been shifting online. Land-based casinos around the county had shut down and more gambling fans began to realize how easy and fun it was to make their wagers online. In many parts of the country, online sports betting is now regulated and taxed.

It’s clear that online gambling is here to stay. Revenue from the industry has been increasing steadily for months. The American Gaming Association recently released a report showing exactly how much money the regulated internet casino and poker industry is generating right now.

According to this report, these casino and poker platforms have already generated $402 million in 2020. That represents a 300% increase when compared to 2019. Incredibly, only a few states currently regulate their online casino industries.

Almost every state has seen its online sports betting revenue increase in 2020. That doesn’t necessarily mean everything is going well, though. Land-based revenue across the country is down considerably. Things are beginning to improve in cities like Las Vegas, yet revenue remains significantly lower than it was last year.

It’s an interesting dilemma for gambling companies around the United States. Many are now focusing more on improving their online gaming operations. State leaders are also beginning to take a closer look at the regulation of this industry.

New reports are now showing how much the sports betting industry over in Colorado is generating.

Here’s an Update on Colorado’s Sports Betting Industry

Lawmakers in Colorado have been interested in legalizing sports betting since PASPA was struck down back in mid-2018. In late 2019, a sports betting bill was finally approved by the House and Senate. Voters approved the bills a short time later. On May 1st, the first state-regulated sports betting platform went live here.

Since that time, this industry has grown immensely. Colorado’s sports betting industry has generated more revenue with each passing month. That’s true once again in July, according to the Colorado Division of Gaming.

The state’s sports platforms generated an incredible $59,183,619.73 in July. That’s a staggering 55% increase from June. As some analysts are pointing out, that includes revenue from the newly-opened brick-and-mortar sportsbooks.

Dustin Gouker, a gaming analyst based in Colorado, gave an optimistic take on the state’s sports gambling market.

“It only took a few days of basketball and baseball games in July to show the demand that is out there in Colorado for sports betting,” Gouker said.  “In just three months, Colorado has established itself as the fifth-largest sports betting market in the U.S, and the number of sportsbook operators in the state is growing rapidly. And with a robust August schedule that includes playoff runs by the Denver Nuggets and Colorado Avalanche, the short-term outlook for the state is excellent.”

There are now eight land-based sportsbooks based in Colorado. 10 different online sportsbooks are operating here, as well. To the surprise of many, baseball, soccer, and table tennis were the most popular sports wagered on in July.

Casinos in Colorado Struggle to Get Back on Track

Colorado is home to a huge number of fantastic casinos. The state legalized Class III casino gambling back in 1991 and now draws in large numbers of gambling fans from nearby states. The vast majority of gaming venues here are located in just three cities.

In March, all the casinos here were forced to close down. It was devastating for the cities that rely on these properties for tourism and employment. By early June, state leaders gave the green light for the casinos to open their doors again.

These properties are now struggling to attract players. Most are now fully operational again, albeit with major safety regulations set in place.

Lawmakers here recently introduced a measure to increase bet limits inside casinos. To qualify for the ballot, 124,632 signatures must be confirmed. The goal is to give more power to the residents who rely on these casinos.

Fortunately, Colorado’s sports betting industry is helping to make up for the lost casino revenue. Revenue from this industry increased dramatically in July. We’ll now need to wait and see how things look in August.

Are you surprised to see how popular sports betting is in Colorado? Let us know in the comments section below!

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Atlantic City, Casino

Atlantic City’s Casino Revenue Dropped by 85% in 2020’s Q2

Nickolas BransonBy Nickolas Branson

Like all other major casino destinations, Atlantic City took a major hit over the months of April, May, and June. It was the only three months that casinos here were forced to shut down since the first one opened back in 1978. This week, reports were released that show exactly how much Atlantic City’s casino revenue fell during 2020’s second quarter.Sky View Of Atlantic City

Obviously, casinos in this city saw their earnings plummet. Things have improved since that time, however, and quarter three of this year is expected to be considerably better.

Let’s take a look at how this city’s casino industry fared over the past few months.

Casinos in New Jersey Continue Working to Draw Visitors

New Jersey was one of the first states to take a major hit due to the coronavirus now spreading around the world. Infection rates began to surge here and Governor Phil Murphy eventually ordered all casinos around the state to close down. It was unclear how long this shutdown would last for.

As time went on, Atlantic City started to suffer more and more. A huge number of people in this city rely on casinos for employment. Many local businesses also rely on the tourism that casinos generate to function.

After months of back and forth, state leaders agreed to allow casinos to reopen over the Fourth of July weekend. Several of the top casino-resorts here immediately opened their doors when allowed to. Others took their time to assure things would run as smoothly as possible.

The Borgata Hotel-Casino, Atlantic City’s biggest revenue-generator, opened its doors at the end of July. All casinos in this city are now focused on boosting rates of tourism. This has become much easier said than done.

Many residents of New Jersey and nearby states are unwilling to make the trip to a casino amid the pandemic. Things are still not completely safe inside these gaming venues, even with the safety measures set in place. As a result, revenue here remains considerably lower than it was in 2019.

Things are far better now than they were over April, May, and June, though.

Looking Back Atlantic City’s Casino Revenue During This Year’s Second Quarter

It’s now safe to say that the second quarter of 2020 was the worst in history for the US land-based casino industry. In some states, casinos were shut down for all three months. Some allowed their gaming venues to open at the end of the quarter.

New Jersey is in the latter category. It wasn’t until July that casinos were allowed to reopen, meaning land-based casino revenue was non-existent during this time. This week, the New Jersey Division of Gaming Enforcement released its quarterly revenue report.

During 2020’s second quarter, Atlantic City’s casino revenue fell by an astounding 85%. Casinos here brought in a net revenue of just $121 million during this time. That’s down from the $796.8 million brought in during the same time last year.

Casino Control Commission Chairman James Plousis claims it’s impossible to even compare this year’s earnings to 2019 due to the pandemic.

“It is also noteworthy that, during this period, the casinos undertook an amazing effort and expense to prepare a safe environment for the return of employees and guests,” Plousis said. “That critical investment enabled the casinos to begin welcoming back visitors with appropriate limits in July, and started Atlantic City on the road to recovery.”

He’s certainly right about the massive effort it took to get casinos here operational again. Even today, casinos in this city are working to improve safety measures for patrons and employees. Most of these casinos are also putting special attention on their online gambling operations, too.

Online Gambling Is More Popular Now Than Ever Before in New Jersey

The world’s gambling industry is changing day-by-day. Prior to March, land-based casino revenue was surging and exciting new casino-resorts were being built around the US. Nowadays, online casinos seem to be the most popular option for most gambling fans.

More people see how convenient and easy online casinos make gambling. As of now, New Jersey is one of the few states with a regulated internet casino industry. This regulation is paying off massively, helping casinos companies to stay afloat while bringing the state valuable revenue.

Not long ago, the American Gaming Association released a report showing how much online gaming revenue has grown in 2020. In regulated markets, revenue from these online gambling options has increased by 80%. This may continue to increase, despite many land-based casinos now open around the country.

Other states are taking notice. Several lawmakers have begun presenting bills to legalize and regulate their online casino and sports betting industries. Several prominent analysts expect a surge of new online gambling regulations to begin appearing around the country.

Fortunately, Atlantic City’s casino revenue is beginning to increase with casinos now reopened. That’s great news for residents and employees in the area. Make sure to stay tuned for updates on the casino earnings here over the next few months.

Do you plan on visiting Atlantic City anytime soon? Let us know in the comments section below!

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Casino

US Online Gambling Revenue is Surging in 2020

James MurrayBy James Murray

We’re now in mid-August, and many of the country’s top gambling venues remain shut down. Many felt that casinos would only remain closed for a few weeks. As time goes on, however, more people recognize how difficult it is to reopen casinos right now. Interestingly, US online gambling revenue is surging thus far in 2020.Revenue Increase Figure

States are beginning to take notice of this revenue jump. It’s likely that more state leaders will begin looking into the legalization of this industry soon.

Today, we’re going to look at how much online gaming revenue jumped already this year.

Many Casinos Remain Closed Around the Country

For the past few years, the US casino industry has been growing steadily. Major gambling destinations such as Las Vegas and Atlantic City saw their tourism rates surge. Several massive new casino-resorts were being constructed around the country and some felt we’d entered into a new golden age for the gambling industry.

Things came to a screeching halt in March. At that time, health officials began warning that crowded venues would be prime locations for the new coronavirus to spread. State leaders around the country immediately called for the closure of all casinos.

Some parts of the US were hit harder due to these regulations than others. Places like Las Vegas, for example, took an immediate blow. This city relies heavily on its tourism and gambling industry. An incredible number of jobs were immediately lost due to the casinos shutdowns.

To make matters worse, no one knew when these regulations would be lifted. Casino companies immediately began coming up with plans to safely reopen. It wasn’t until June that casinos in Las Vegas were given permission to start accepting guests again.

Even today, many states are prohibiting their commercial casinos from reopening. Over in New York, a large rally is being held this week to protest these regulations. It’s still unclear when all of the country’s gaming venues will be allowed to reopen. Many will likely be forced to permanently close their doors.

The longer land-based casinos remain closed, the more popular online casino gambling becomes. Reports have just surfaced that show how much revenue the country’s regulated online casino industry is generating right now.

Here’s How Much US Online Gambling Revenue Already Increased in 2020

Online gambling has always been popular in the US. In recent years, several states have chosen to officially regulate and tax this industry. These states are now earning a massive amount of revenue from this industry.

It’s now becoming clear how much money the US online casino and poker industry is earning. This week, the American Gambling Association released a report showing the jump in earnings. The report claims US online gambling revenue tripled in 2020’s second quarter when compared to 2019.

The online poker and casino industry managed to bring in an incredible $402 million through April, May, and June. It’s the largest revenue increase ever recorded. Land-based casinos, unfortunately, saw their revenue dip by more than 80% in 2020’s second quarter.

Casey Clark, a vice president at the American Gaming Association, spoke with Business Insider about this massive revenue increase this week.

“Consumers like convenience,” Clark said. “There was very little competition from brick-and-mortar casinos in the second quarter.”

This trend probably won’t slow down anytime soon. More states are likely to begin looking into the regulations of this industry soon. Casino companies across the country may begin focusing more on their online operations, as well.

Sports betting is growing more popular now, as well. This industry is also becoming highly profitable for many different states around the country.

Online Sports Betting Revenue Continues to Surge

The land-based casino industry in the US wasn’t the only one to be affected by the regulations being set around the country. The professional sports industry was hit extremely hard, as well. All major sports leagues around the country were forced to shut down in March and many have only recently begun to operate again.

Some leagues saw the situation as an opportunity. The UFC became the first league to come back and is now more popular than ever before. Today, the MLS, MLB, and NBA are all holding their seasons, albeit with significant changes set in place.

Online sports betting is now extremely popular around the country. More than 20 states around the country have officially legalized and regulated this industry. Many more are likely to do so over the next few years.

Casino companies around the country saw their second-quarter revenue earnings drop sharply. It’s clear that US online gambling revenue is increasing right now and more of these companies are taking notice. We’ll likely see a major push to regulate internet casino gambling in more states around the country soon.

It’s an extremely unusual time for the gambling industry. Things are changing fast and no one really knows how things will look by the time 2021 rolls around. Make sure to stay tuned for more updates on the country’s casino industry over the next few weeks.

Are you surprised to see how much online gambling revenue has increased? Let us know in the comments section below!

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news, Online Gambling

Salsa Technology Signs NetGaming Content Deal

Brian WalkerBy Brian Walker

Slots on a Laptop
Salsa Technology signed an agreement with NetGame Entertainment to integrate the content provider’s titles to its Game Aggregation Platform (GAP). The deal expands Salsa’s gaming portfolio which has added over 30 brand new titles over the last two years.

Integrating NetGame Titles To GAP

GAP already features proprietary titles and 50-third party content providers. With this integration, its customers will even have more. Said Salsa Technology CEO Peter Nolte of the agreement:

“NetGame Entertainment has curated a wonderful selection of casino titles and we cannot wait to welcome these to our GAP. Our leading position in the LatAm market will enable NetGame to expand further into this incredibly exciting region.”

With this new partnership GAP will now carry NetGame Entertainment’s top slot titles like Golden Skulls, African King, Magic Tree, Hit in Vegas, Clover Stones, MMA Legends, Magic Dragon, Diamond Shot and others. These games have some of the industry’s best in-game features like extra spins, progressive jackpots, pick ‘em bonus, win both ways, fortune wheel, tumbling reels, the revolutionary Totalizer feature, and many more.

Expansion By Both Brands

The partnership between Salsa and NetGame Entertainment is seen as an expansion move by both brands. NetGame recently introduced a new online slot called Fruit Burst. It was released in late July and it has a fruity theme with a smooth jazz soundtrack.

In a statement, NetGame Entertainment Hed of Business Technology Andrey Vajdyuk revealed:

“Our partnership with Salsa Technology and their GAP presence is an excellent opportunity to expand NetGame’s presence in the LatAm market which is full of potential. We are pleased to sign a partnership with Salsa and are expecting years of valuable experience and achievements together.”

NetGaming has an engaging portfolio that is available in 26 languages and can be played in over 40 currencies. After focusing mainly on Europe, Africa, and the CIS countries, NetGaming expanded its business to Asia earlier this year.

About Salsa Gaming

On the other hand, Salsa announced a deal with Tom Horn Gaming last May. Under the deal, Salsa’s GAP will now be able to offer top Tom Horn games like 243 Crystal Fruits, Joker Reelz, and many more. Last February, Salsa also engaged in a content deal with Gamshy for the integration of the latter’s nine HTML5 omni-channel games to GAP.

Over the past seven years, Salsa has grown to become the leading force in Latin America iGaming market. It has since expanded globally and just this year, changed its name from Patagonia Entertainment to Salsa as part of its dedication to globalization and innovation in the iGaming industry.

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Casino, Las Vegas

Room Rates in Las Vegas Remain Above US Average

James MurrayBy James Murray

All of the major casino-resorts on the Las Vegas Strip are now open to the public. Casino companies are now doing everything they can to boost tourism into the city. Interestingly, new reports indicate that room rates in Las Vegas still remain above the US average.

Las Vegas Strip View

Under normal circumstances, this wouldn’t be a surprise at all. At the moment, however, some feel that room rates need to drop in order to bring in more visitors. Today, we’re going to look at some of the strategies casino companies here are doing to bring in more tourists.

Let’s get into it!

Nearly All Las Vegas Casinos Are Now Operating Again

The city of Las Vegas has been the world’s biggest gambling hub for decades. Some of the most impressive gambling venues ever built are located here. Obviously, it costs an incredible amount of money to keep these venues operational.

In March, Governor Steve Sisolak announced that all of the state’s casinos were shutting down. Rates of Covid-19 had begun to increase throughout the country. Many felt that major casinos were ideal places for this new virus to spread.

This casino shutdown was incredibly difficult. Las Vegas relies almost entirely on tourism and casinos are a driving force behind the tourism industry here. A huge number of businesses were immediately affected.

In early June, Sisolak began allowing casinos to reopen. Visitors slowly began trickling into the city. Today, most of the major casinos in Las Vegas have now begun operating again. Unfortunately, tourism rates have actually been dropping in recent weeks.

Cases of Covid-19 are still increasing around the country. As a result, fewer people are interested in traveling. Casino companies recognize this and are now doing everything they can to make the city more attractive for potential visitors.

To the surprise of some, hotel prices are still higher than in most other parts of the country.

Taking a Closer Look at Room Rates in Las Vegas

There are many reasons why Las Vegas has grown to become such a popular tourist destination. Many love the wide range of different accommodation prices. In a small area, visitors have access to a massive range of hotel options.

Generally speaking, this city is more expensive than most others in the country. That’s particularly true on the Las Vegas Strip. Here, some of the most expensive hotel rooms in the world are available.

According to new reports, room rates in Las Vegas are lower than they were before the global pandemic hit. They still remain above the US average, though. The average room rate nationally between July 12-18 was $98.56. Many US casinos continue to charge above $100 per night for their average rooms.

Alan Feldman, a member of the UNLV International Gaming Institute spoke about this situation with the Las Vegas Review-Journal.

“I think it speaks to the nature of Las Vegas. There’s so much more to Las Vegas than just a hotel room and pool, even in these times,” he said. Hotels in other markets wish they could get these higher rates, especially in markets that have as many rooms as we do.” 

Obviously, room rates increase in times when visitation is up. That may not take place anytime soon. Some still feel that we’ll see hotel prices increase this fall. Unless hotels begin earning more money, many will be in a terrible financial position by the end of the year.

It’s a difficult time for all US casino companies. Many are now focusing solely on increasing their safety measures.

Online Gambling Revenue Becomes More Valuable For Casino Companies

Most states have now allowed their casino industries to reopen. In some parts of the country, this was a complete necessity. Entire cities relied on their casinos and needed these properties to reopen.

Some states have begun to roll back their reopening plans. States like California are even considering forcing casinos to close down again. All of the casinos here are Native American-run, though, and it’s unclear if Governor Newsom has the power to force these to shut down.

States with regulated online gambling platforms are now beginning to rely more on this industry. New Jersey, for example, has seen its online sports betting revenue surge over the past couple of months. More states are now introducing legislation to legalize and tax online sports betting and casino gambling.

Hope is that the land-based casino industry begins to recover. If room rates in Las Vegas drop, perhaps more visitors will begin flocking to this city. In the meantime, casino companies will continue working to boost their online gambling revenue.

Do you think Las Vegas hotel rates should drop? Let us know in the comments section below!

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Michigan

Online Sports Betting in Michigan Likely Delayed Until 2021

Joy NoelBy Joy Noel

Mobile Sports Gambling, Computer In BackgroundMichigan regulators, who are familiar with the previous implementation of new gambling regulations in Michigan, expect it to take approximately one year to solidify the rules for the industry – online poker, online casino games, sports betting, and fantasy sports.

The targeted 2021 completion of the online rules are based on the time it took to develop other rule sets in the past, said Mary Kay Bean, a spokeswoman for the Michigan Gaming Control Board.

While Detroit’s three commercial casinos, as well as the state’s 24 tribal casinos, will all need to obtain the proper mobile sports bettor operating licenses for online gambling, it’s the agency’s goal to launch on-site sports betting this spring.

“We are at a very early stage of this process,” Bean said, according to the Associated Press. “The agency must establish several sets of administrative rules, which pass through many levels of review. The timing of implementation depends not only on our agency but also on decisions other departments, agencies and the Legislature make along the way.”

The rules process could require public hearings, public comments, and regulatory impact statements. In addition, the rules must then lead to a licensing process, which will include vetting and ultimately issuing those licenses.

How Michigan Is Preparing for Legalized Sports Betting

MGM Grand Detroit has prepared for the update by opening their $6 million sports bar, Moneyline, last October. It will have betting windows and self-service kiosks once approved. But Detroit won’t be the only place it will be available.

“We view sports betting as another nice entity that will drive more people to our property,” Mike Bean, the CEO of Saginaw Chippewa Gaming Enterprises with locations in Mount Pleasant and Standish, said, according to the news wire. “Our biggest question right now is when is it all going to be ready?

Penn National Gaming Inc. is the new operator of the Greektown Casino. There have been decades-long agreements with four internet gaming operators because the organization aims to bring sports betting to its 41 locations in 19 states. Two of their locations could potentially operate in the state of Michigan.

“We’re envisioning what (sports betting) could look like if it were passed,” said Eric Schippers, Penn National senior vice president of public affairs. “Michigan is leaving a lot of money on the table it could be generating in tax revenue and benefits that could be funded from this. There’s natural pressure to strike while it’s hot. We’re hopeful Michigan won’t allow itself to get left behind.”

How Does Michigan’s Timeline Fare With Other States?

Pennsylvania, as a point of reference, took approximately two years before its first online poker site was able to launch, but that was on the long-tail of the required amount of time, almost excessively so. One year is more realistic, according to most industry analysts and experts.

The timeline largely is the standard in other states that have legalized online gaming and sports betting, said Rep. Brandt Iden, R-Oshtemo Township, who spearheaded the online gaming package. A similar package took six to eight months to implement in Indiana, he said.

“I’d like it to be a little bit quicker, but that’s probably the timeline,” Iden said.

The in-person sports betting timeline is a good step forward, he said, but it’s not likely the state will experience significant tax revenue until online gambling piece is up and running.

“Until we’re fully integrated online, I don’t think we’ll be able to capitalize on revenue. But from a consumer protection standpoint, from getting players interested, certainly getting up and going in person is helpful,” Iden said.

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Gambling Laws, Michigan, news

Online Gambling in Michigan is Officially Legal

James MurrayBy James Murray

For years, officials in Michigan have been working to expand the state’s gambling laws. This week, their efforts have finally paid off. Online gambling in Michigan is now officially legal. It’s extremely exciting for gaming fans here.Michigan State Outline

That’s not all! Sports gambling has also been made legal in this state. Today, we’re going to look at the road to make this happen. We’ll also talk about exactly what forms of gambling are now legal in this state.

Let’s get into it!

Michigan’s Long Road to Sports Betting, Online Gambling Legalization

Since PASPA was struck down in May of 2018, several politicians in Michigan have stated their desire to see sports betting legalized in the state. It’s a highly profitable industry, helping to earn many states millions of dollars every month. Unfortunately, some of the most powerful politicians in Michigan have been hesitant to embrace any new gambling expansion plans.

Michigan has been close to sports betting legalization several times. In 2018, it was approved by both the House and the Senate, yet Governor Gretchen Whitmer vetoed the bill at the last minute. It was extremely disappointing news, particularly for sports fans here.

As soon as 2019 kicked off, lawmakers once again began working to legalize new forms of gambling in the state. House Bill 4916 was introduced and eventually made its way through the state’s legislative bodies. In September, the bill was officially approved by Michigan’s House Committee.

Some had concerns that Governor Whitmer would once again shut down this bill at the last minute. She had voiced her concerns over the bill, particularly with its tax structure.

Fortunately, the Governor decided that it was time for Michigan to embrace some new forms of gambling.

Sports Betting and Online Gambling in Michigan Are Now Legal

House Bill 4916 slowly made its way through Michigan’s legislative bodies. This week, the bill had its final test with Governor Whitmer. She decided to approve the bill, meaning both sports betting and online gambling in Michigan are now legal.

Many supporters of this bill believe that the newly-expanded gambling laws will help bring millions of dollars to the state. The majority of the money will go towards the School Aid Fund. Some will be used to help pay for firefighters’ medical costs, as well.

Gretchen Whitmer commented on the approval of the bill to the media this week.

“My top priority in signing this legislation was protecting and investing in the School Aid Fund, because our students deserve leaders who put their education first,” she said. “Thanks in part to the hard work and leadership of Senator Hertel and Representative Warren, these bills will put more dollars in Michigan classrooms and increase funding for firefighters battling cancer.”

An 8.4% tax rate will be applied to sports betting operators in the state. Taxes for online gambling range from 20% to 28%.

Many are now wondering when exactly the new gambling options will become available here.

When Will Sports Betting and Online Gambling Be Available in Michigan?

This is the million-dollar question. Several states legalized sports gambling, yet took months to actually get their sports betting operations up and running. Hopefully, this is not what happens here in Michigan.

Ultimately, it will come down to how long it takes the Michigan Gaming Control Board to set specific regulations on the industry. Of course, there will be different rules for sports betting and online gambling in Michigan.

Once a set of gambling laws are established, lawmakers will need to choose which sports betting companies can operate in the state. Several of the biggest sports betting companies in the UK are now actively working to break into the US market.

Several lawmakers are pushing to have this industry available to the public before March Madness. If it does, the state will likely earn millions of dollars via revenue from the bets placed on the popular NCAA tournament.

Online gambling in Michigan is finally here. If you’re a gambling fan in the state, things just became a lot easier.

Stay tuned for more US online gambling news over the next few months!

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Gambling Laws, Michigan, news

Michigan’s Online Gambling Laws Are Set to Change Dramatically

Nickolas BransonBy Nickolas Branson

For years, certain lawmakers in Michigan have been working to make sports gambling legal. This week, it appears these efforts are finally paying off. Michigan’s online gambling laws are set to change in a major way.

Michigan State Flag

Several new forms of gambling are going to become legal here. It’s extremely exciting news for both casino and sports betting fans around the state. Today, we’re looking at exactly what’s coming here.

Let’s get into it!

Gambling Laws in Michigan, Explained

Michigan is thought of today as a very gambling-friendly state. This wasn’t always the case, though. For many years, lawmakers here only allowed Class II tribal casinos to operate. Eventually, a bill was approved to allow Class III gambling establishments.

This completely revamped the state’s gaming industry. Before long, 19 fully-operational tribal casinos began operating here. They’re hugely popular with both locals and residents of nearby states where casino gambling is banned.

Laws towards online gambling were much more ambiguous here. The legality of online casino gambling and internet sports betting seemed to lie in a grey area. Despite this fact, many individuals continued to make wagers online. Lawmakers realized the state was earning no revenue from these markets and decided it was time for a change.

In 2017, officials presented a bill to make sports gambling legal and regulated. It was nearly approved in 2018 before a veto from the Governor.

Fortunately, things are moving ahead as originally planned. The House Committee approved new measures in September. It appears that Michigan’s online gambling laws are now set to change.

Michigan’s Online Gambling Laws Are About Change

As we just mentioned, lawmakers in Michigan very nearly approved sports betting in 2018. Unfortunately, Governor Gretchen Whitmer vetoed the bill at the last minute. This week, a package of bills is once again being presented to the Governor and this time, it seems highly unlikely she’ll put up any resistance.

Michigan’s Senate Regulatory Reform Committee voted unanimously to approve the bill. State officials agree to the proposed tax bracket for both sports betting and online casino gambling. At the moment, sports betting operators will be taxed at 8.4%. Internet casino operators face a tax between 20% and 28%.

This package of bills also lays out plans to regulate and tax the daily fantasy sports industry.

The majority of revenue earned from this industry will go to help fund schools and other social programs. Sen. Curtis Hertel Jr., a democrat that supports the changes to Michigan’s online gambling laws, commented on the timeline to the media this week.

“The intention is to get this to the governor’s desk and have votes today,” he said. “It makes us like a lot of other states.”

That’s certainly true. More than 20 states have already approved sports gambling legislation. Most of these states have their sports betting operations up and running. If all goes according to plan, Michigan will join these states by the end of the week.

More States Likely to Legalize Sports Betting in 2020

Michigan’s online gambling laws are changing in a major way. Soon, both online casino gambling sports betting will be available to residents. This is far from the only state making changes, though. It’s likely that many more states change their laws in 2020.

Lawmakers around the country are simply realizing how much money can be earned with gambling expansion. New Jersey, which was one of the first states to allow both online sports betting and casino gambling, is now earning millions of dollars every month by taxing this industry.

Even small states such as Rhode Island are earning an impressive amount of money thanks to the legalization of sports betting.

Several states are on-track to legalize sports betting next year. Many believe that Massachusetts is heading in this direction. This state is well-known for having one of the most passionate sporting fan bases in the country. The legalization of sports betting here would likely bring in major revenue earnings each year.

Some believe California has a chance to legalize this industry, as well. Unfortunately, lawmakers are in a legal quarrel with Native American tribes over the matter.

Michigan’s online gambling laws will completely change this week. Gambling fans are about to have a whole new list of options to make wagers.

Stay tuned for more US casino news over the next few months!

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news, Online Gambling

Paddy Power-PokerStars Merger is the Biggest in History

Nickolas BransonBy Nickolas Branson

Two of the biggest gambling companies in the world have officially agreed to merge. Company officials have confirmed that Paddy Power and PokerStars have joined forces. This PaddyPower-PokerStars merger is the biggest of any online gambling companies in history.

Paddy Power Logo

Today, we’re going to look at how this merger came together. We’ll also talk about what these companies will now offer as a team. Let’s get into it!

History of Paddy Power and PokerStars

If you know anything about online gambling, there’s a good chance you’ve heard of both Paddy Power and PokerStars. Both of these companies are extremely popular, with millions of active users around the world. Interestingly, both are very different and offer their members unique forms of gambling.

Paddy Power was founded all the way back in 1988 in Dublin, Ireland. For a decade, the company focused on expanding land-based betting shops around Ireland and eventually, the United Kingdom. Before long, this company began offering online betting platforms. Today, it’s one of the most successful gambling companies in the world.

PokerStars is another extremely popular internet gambling company. This company wasn’t founded in 2001, initially by a Costa Rican company called Regional Enterprises. It immediately began offering services to players in the United States and grew to become the largest online poker company in the world.

The Unlawful Internet Gambling Enforcement Act of 2006 forced PokerStars to leave the US market. Despite this, it’s grown extremely popular in Europe and Asia.

Despite the rise in online gambling competition, both of these companies have continued to bring in massive revenue figures. This week, they’ve officially agreed to merge.

Details of the Paddy Power-PokerStars Merge Come to Fruition?

Paddy Power is no stranger to big merges. Back in 2015, this company famously merged with Betfair. Today, this company is technically called Paddy Power Betfair. This week, Paddy Power has confirmed that it’s joining forces with PokerStars.

Flutter Entertainment, the parent company of Paddy Power, will control 54.64% of this new company. Toronto Stars Group, which owns PokerStars, will own 45.36% of the company. Immediately after the news of this merger was announced, Flutter Entertainment’s stock prices rose by 15%.

The Paddy Power-PokerStars merger is the biggest ever in the history of gambling companies. Together, these companies will have a combined annual revenue of more than $4.6 billion. CEO of Flutter Entertainment Peter Jackson recently commented on the news of this deal to the media.

“We believe the combination of Flutter and TSG will deliver substantial value for shareholders,” he said. “We will have an exceptional portfolio of leading recreational brands and best-in-class products on industry-leading technology platforms.” 

Jackson also told the media that this merge will “turbocharge” the company’s plans to expand into new markets. The US, in particular, is becoming a major point of interest for these companies.

Expansion Into the US is Coming Soon

In 2018, the US Supreme Court struck down PASPA. Now, every state in the country can set laws on sports gambling. 19 states have already legalized this form of gambling and many are set to within the next couple of years. As a result, many of the top gambling companies in the world are now interested in breaking into this market.

The Paddy Power-Poker Stars merger now has backing from FOX Sports. The powerful US company will acquire an 18.5% stake in Flutter Entertainment’s US business.

“We’re excited to be able to expand our partnership into FanDuel, which together with FOX Bet, will be a leader in sports wagering in the U.S.,” an official at FOX Corporation told the media. 

Several states have also legalized internet casino gambling recently. It’s unclear whether or not the newly merged company will look to offer any online casino games in the US. As more states choose to legalize this industry, this scenario will become more likely.

The Paddy Power-PokerStars merger is the biggest ever made in the history of gambling companies. We’ll need to wait and see how effective this company is at breaking into the United States.

Stay tuned for more updates over the next few weeks!