Place Your Bets Ladies and Gentlemen
The commercials have been running all over Radio and TV, encouraging people to get ready for on-line betting. And, FanDuel and DraftKings are "betting" on a big win here in Michigan when the green light flashes. Drivers.....start your engines!
The Michigan Gaming Control Board says that they could green light on-line betting by the end of this week. Experts in the sports betting and online gaming industries are optimistic about the revenue the legalization could create in the state of Michigan.
Fox 17 reported the the DraftKings folks are saying that Michigan is one of the best markets in the country from a sports standpoint. Mike Raffensperger, Chief Marketing Officer of FanDuel said, "we're actually more encouraged that we think it could be a bigger market place than New Jersey, Given the nature of the state of Michigan, the population, the gaming apparatus it has with casinos."
Michigan will become the eleventh state with full mobile sports betting with states like New Jersey, who grossed over $301 million in 2019, setting the bar for revenue.
While the wait has been lengthy for online sports betting and online casinos to launch, national brands like FanDuel and DraftKings say the state has done things the right way. You need to have online mobile sign-up, which now Michigan has, sustainable tax rate that drives investment into the state, and now Michigan also has, and a good competitive market for work class operators to come in. The Michigan Gaming Control Board wants to make sure that consumers in Michigan are protected.
The online launch will not only create tax revenue for the state, but also create jobs and diminish the illegal sports betting black market that is not regulated.
They sure want to be ready for the Super Bowl, which has been the goal for Michigan to launch online sportsbooks as it is the most bet on event every year around the world.
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