Michigan’s Online Gambling Laws Are Set to Change Dramatically

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!

Sports Betting Revenue in Rhode Island Dropped Last Month

Lawmakers in Rhode Island legalized sports gambling back in 2018. It’s proving to be a good decision, helping to bring the state millions in additional revenue every month. Unfortunately, sports betting revenue in Rhode Island dropped slightly in October.Flag Of Rhode Island

This isn’t concerning, though. The sports betting industry in this state is still extremely strong. Let’s take a quick look at how much revenue dropped here last month!

Rhode Island’s Road to Sports Betting Legalization

With a population of just over one million people, Rhode Island isn’t typically thought of as a gambling hub. In recent years, however, this state has developed a sizable gambling industry thanks to a rising number of casinos and sports gambling options.

For years, PASPA prevented any states from legalizing sports betting. In May of 2018, this all changed. The US Supreme Court removed PASPA that month, giving every state the ability to legalize this form of gambling.

Before long, several states opened up their sports gambling industries. Many more are likely to do so over the next few years.

Lawmakers in Rhode Island officially legalized sports betting in 2018. Initially, lawmakers only allowed in-person wagering inside casinos. Recently, laws were changed once again to allow for online and mobile sports betting.

It’s been very successful. Officials here are happy with the money being brought in from this industry. New reports indicate that revenue earnings dropped in October.

Sports Betting Revenue in Rhode Island Dropped in October

In September, revenue from the sports betting industry in Rhode Island reached an all-time high. Many predicted that revenue would continue to increase for the rest of the year. Now, it appears that these predictions were wrong.

Bettors here wagered more than $28.3 million last month. That’s an increase from the previous record of $23.6 million. Sports betting operators took in a combined $2.5 million in revenue.

After payouts to players, sports betting revenue in Rhode Island actually fell by 2.3% compared to September’s revenue.

Online sports betting revenue increased by an astounding 78%. It’s been just over a month since online sports gambling was legalized here.

The state continues to generate millions from the sports betting industry. Despite the slight revenue drop, lawmakers here must still be happy with the earnings.

More States Are Ready to Legalize Sports Gambling

Some states, including New Jersey and Pennsylvania, are earning an incredible amount of money from their regulated sports gambling markets. Officials in many other states are now interested in legalizing this industry.

Maine, for example, has recently introduced a bill to make sports betting legal. The state’s governor vetoed the bill, yet there’s still a chance that it gets approved in 2020.

California may also decide to legalize sports betting in the near future. Voters here will soon decide whether or not to amend the state constitution to make this form of gambling legal.

It’s a great time to be a sports fan in the United States. Soon, it’s likely that almost every state in the country will have a regulated sports gambling market.

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

US Sports Betting Industry Set to Generate Billions Over the Next Few Years

The US gambling market is considered by many to be the most lucrative in the world. This is especially true now that sports betting is legal in many states. New reports indicate that the US sports betting industry will grow significantly over the next several years.

Hundred Dollar Bills

This proves just how quickly sports gambling is growing throughout the country. Today, we’ll look at which states currently allow sports betting and which ones are likely to legalize this form of wagering in the near future.

Nearly 20 States Have Now Legalized Sports Gambling

In May of 2018, the US Supreme Court struck down PASPA, a set of laws that limited sports betting to Nevada. With PASPA gone, every state in the country now has the ability to set laws on the sports betting industry. Almost immediately, a huge number of states began regulating this industry.

New Jersey was the first state outside of Nevada to officially legalize sports gambling. It proved to be a fantastic decision. The state’s sports betting market is now the most lucrative in the country. On several occasions this year, New Jersey’s sports betting market has generated more revenue than Las Vegas’.

New York, Pennsylvania, Mississippi, and more states all enjoy a regulated sports betting market. In most of these states, both online and land-based sports gambling is allowed.

Many states have also taken steps to legalize sports betting, yet have not yet launched any sports betting operations. Montana, Tennessee, and Illinois all fit into this category. Hope is that these states will launch their sportsbooks before the end of the year.

It seems likely that in time, every state will legalize sports gambling. Lawmakers across the country realize the massive earning potential from this industry.

New reports shed light on just how quickly the US sports betting industry is growing.

US Sports Betting Industry is Growing Faster than Many Predicted

Everyone knew that sports betting was popular in the US. Not many predicted it would be growing as quickly as it is right now, though. Reports are surfacing that indicate the US sports betting industry will start generating billions of dollars by 2025.

Several investors and sports betting companies made this prediction public this week. Morgan Stanley, one of the top US investment firms, predicts that the industry will generate $7 billion over the next five years, significantly more than the $833 generated this so far this year.

This is still significantly less than what casinos in the US generate every year. It’s still a major revenue increase, though.

Several other companies including MGM Resorts, Hard Rock International, and Mohegan Sun all predict that the industry will generate between $6 to $8 billion by 2025. Many are quick to point out that competition is growing and some sports gambling operators will ultimately fail.

Scott Butera, president of interacting gaming for MGM Resorts International, commented on the competitive nature of the US sports betting industry to the media this week.

“It is a growing market here in terms of revenue but it’s a very tough market,” he said. “Everybody wants to be here. Ultimately I think we’ll see some shaking out. I’ll take the over on $8 billion.”

More States Will Soon Legalize Sports Betting

There’s never been a better time to be a sports fan in the US. As we’ve already mentioned, a huge number of states have outright legalized sports gambling. Soon, many more states are likely to start regulating this industry, as well.

Many believe that California will eventually choose to regulate its sports betting market. California is home to a huge number of tribal casinos. These gambling venues help to generate massive revenue for the state every year. Sports betting would increase this revenue substantially.

At the moment, there are several fantastic betting sites that are available in every single US state. These websites are not regulated by state governments, yet most are well-known for being extremely safe and offer a wide range of both sports gambling and online casino gaming options.

This site has grown extremely popular over the past five years. It allows members to wager on thousands of different sporting events every single month. Feel free to check it out today.

The US sports betting industry is growing bigger every single day. If predictions are correct, this industry will begin generating billions of dollars within just a few years.

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

Sports Betting Revenue in Mississippi Surges in September

Mississippi is one of the 19 US states with an active sports betting market. This industry is proving to be massively successful here, particularly with the help of the NFL’s 2019/2020 season. New reports indicate that sports betting revenue in Mississippi surged during the month of September.

Hundred Dollar Bills Laid Out

It’s great news for betting operators here. Mississippi has always been thought of as a US casino hub and is now beginning to gain a reputation as a major sports betting destination. Let’s look at exactly how much sports betting companies managed to bring in last month.

Mississippi’s Gambling Market Continues to Expand

For centuries, all forms of gambling were banned in Mississippi. The state took this matter seriously, issuing harsh punishments to anyone caught playing inside an illegal gambling house. In 1990, lawmakers here decided to make a change.

State politicians decided to legalize traditional casino gambling. Within just a few years, several land-based and riverboat casinos began operating here. Today, there are a huge number of land-based gambling venues, most of which are very successful.

It’s clear that lawmakers wanted to bring in more revenue from the gambling industry. In 2018, shortly after PASPA was removed, Mississippi officially approved sports betting. Two MGM Resorts-owned casinos took the state’s first sports wagers in August of that year.

Since this time, almost all casinos in this state have begun offering sports gambling options. Many of these casinos are earning millions in additional revenue from this industry.

September was a massively successful month for sports betting operators in this state. Here’s how much money was brought in.

September Brings an Increase in Sports Betting Revenue in Mississippi

This state continues to rack in money from its sports betting market. New reports indicate that that September was one of the biggest months of the year in terms of revenue. There are clearly a huge number of passionate sports fans here.

The state’s Gambling Commission claims that sports betting revenue in Mississippi increased by 19.2% year-on-year to $37.9 million. The state itself took in $5.6 million in tax earnings. Interestingly, most of the year-on-year growth came from the state’s central region.

Handle from this region increased by 75.6% in this area compared to the same month last year. The state earned $780,798 in taxes from this region, with bookmakers recording a 15.29% win rate.

Unsurprisingly, the Coastal region contributed the most to sports betting revenue in Mississippi last month. This area brought in $25.4 million, representing a 14.7% increase from the same month last year.

This industry is showing no signs of slowing down. Last month, casinos in this state brought in massive revenue earnings, as well.

Soon, Mississippi could have one of the most lucrative sports gambling markets in the country. The rise in sports betting revenue could push other nearby states to legalize and regulate this market, as well.

Nearby States Considering Sports Betting Legalization

As of today, 19 states have legalized sports gambling. Many more have pending legislation to open their sports gambling markets. Several states in near proximity to Mississippi are currently considering allowing this form of gambling.

Several already have, too. Lawmakers in both Tennessee and North Carolina have both recently passed sports gambling legislation bills. The “Tennessee Sports Gambling Act” became legal on May 25th of this year. On July 26th North Carolina approved a bill that “allows sports and horse race wagering on tribal lands.”

Several other nearby states are working to legalize sports betting. Politicians in Louisiana and Alabama have both recently presented sports betting bills. Unfortunately, none of them have been approved during their state legislative sessions.

In time, it’s likely that almost every US state will allow sports betting. It’s a massively profitable industry that’s popular with individuals across the country.

Sports betting revenue in Mississippi continues to increase. We’ll need to wait and see whether or not October brings even better results.

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