Michigan is now the sixth state to legalize poker, and will offer online casino games, sportsbetting and daily fantasy sports.
Michigan Governor Signs Gambling Expansion Bill
Michigan has just become the sixth state to legalize poker and online casino games. It is a huge boon for the state’s gaming market, and land-based poker room operators will soon have the ability to reach an entirely new audience.
The current governor Gretchen Whitmer has just signed a bill that will provide Michigan with its biggest expansion in history. Now, online poker, online casino game, sports betting and daily fantasy sports will now legally be able for players across the state to experience.
Specifics of Michigan’s Online Gambling Laws
In signing the gambling expansion bill into law, a number ofrules have been clarified. So, operators who are interested in obtaininglicenses in the state will know what they are getting into.
Firstly, there are online casino and online poker licenses for the state’s three commercial casinos and 23 tribal casinos. Each casino can partner with just one online casino company and one online poker operator, so they will be able to have two brands that they work with in order to offer players the best online gaming experience possible.
They will also be looking at a $50,000 application fee. The initial licensing free will be $100,000 and there will be a $50,000 renewal fee every year. The tax structure will range from 20% to 28%, depending on the casino’s online gaming revenue and what games the casinos are offering. Operators will also be able to use free-play games as a deduction on their gross gaming revenue.
These fees are relatively low, especially when you comparethem with Pennsylvania’s. Last year, operators were required to pay a $1million application fee, and have an ongoing tax rate of 36%. So, Michigancasino operators are definitely getting a good deal.
Lawmakers in Michigan have come along way from this time last year. At the end of 2018, then-governor Rick Snyder vetoed the expansion of the state’s online gambling bill – but this year is going to end with a bang for everyone in Michigan’s casino, sportsbetting and poker industries.
Now, it’s time to sit back and watch which land-based operators come forward to claim licenses. With an affordable application fee, it’s likely that we’ll see most of the casinos bet646 in Michigan apply to become online gaming operators. So, if you live in Michigan, you might soon be able to play at your favourite poker room without ever leaving home!
