The State Of Michigan Has Officially Legalized Sports Betting

• Michigan sports betting has been legalized when Governor Whitmer signed MI HB 4916.
• Governor Gretchen Whitmer wanted to make sure that school funding is secure.
• Sportsbooks in Michigan will likely launch in 2020 after setting their regulations.

LANSING, Mich. – Michigan sports betting has officially been made legal on Friday.

Governor Gretchen Whitmer signed MI HB 4916 and by doing so, full scale sports betting will be introduced in Michigan.

Betting On Sports In Michigan

With legal sports betting coming to Michigan, there will be a wide range of availability. Both mobile and brick and mortar sports betting will be present once sportsbooks start opening in the state. There does not seem to be any restrictions with mobile wagering, which means statewide availability is expected.

Either way, there should be a large number of sportsbooks opening up in Michigan.

A total of 26 casinos now have the ability to launch retail and online sportsbooks. Three of those casinos are state-licensed, while the others are tribal casinos.

Sports Betting Tax Revenue

One of the main reasons why it took Michigan so long to legalize was the issue of taxes and funding. Governor Whitmer had one very specific goal in mind when it came to taxes and sports betting.

“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,” said Whitmer.

Governor Whitmer wanted to make sure that the new sportsbooks would not hinder other online gambling operations. A majority of school funding in Michigan comes from online gambling. But Gov. Whitmer and the state legislature have found a compromise to this possibility.

The state will receive 8.4% of all legal sports betting revenue of the state-licensed operators. Through this tax rate and licensing costs, the state is expecting to bring in around $19 million a year from sports betting.

Of that money, $4.8 million of it will go to the School Aid Fund. This should offset any decline that other online gambling operations might get hit with thanks to sports betting.

It has taken some time but sports betting is now legal in Michigan and the state is likely the last to legalize sports wagering in 2019. Still, it will take some time before sportsbooks can begin taking bets. Lawmakers are hoping that sportsbooks can become fully operational by the time March Madness begins.

News tags: Gretchen Whitmer | March Madness | MI HB 4916 | Michigan