Gambling in the USA
PlayMichigan.com: Michigan sportsbooks live, but best is yet to come
Michigan bettors will have their first opportunity to place a legal sports bet with today’s opening of two Detroit-area sportsbooks, a momentous first step in the state’s fledgling industry. But with online sports betting and internet casino operations still a year away, the most significant leap forward is still months away, according to PlayMichigan analysts.
“Today is something that sports bettors across Michigan have been waiting for for years, which makes it a moment to celebrate,” said Dustin Gouker, chief analyst for PlayMichigan.com. “But much work remains, particularly with the launch of online sports betting still months away, if Michigan is to reach its potential as a market.”
Greektown Casino and MGM Grand Detroit are expected to accept their first sports wagers today, and MotorCity Casino likely won’t be far behind. The launch comes less than three months after HB 496 was signed into law and just in time for the tip of the NCAA Men’s Basketball Tournament, one of the largest sports betting holidays in the country.
Michigan, which was the 13th state to legalize online sports betting nationwide and just the fifth state to legalize online casino gambling, should eventually be one of the nation’s largest markets. Once mature, PlayMichigan expects the Wolverine State to generate $7 billion to $8 billion in sports bets each year and produce $500 million in annual gross operator revenue.
But until online sports betting launches, which appears unlikely to happen until 2021, Michigan won’t come close to those targets. More than 85% of all sports bets in New Jersey, the nation’s largest sports betting market, are made online. In neighboring Indiana, 77.9% of sports wagers were made online in February.
“With the NCAA Tournament just ahead, the timing of the launch is good, but it would have been better if both retail and online sports betting could have launched together,” Gouker said. “The high expectations for the market should remain relatively muted until online sportsbooks get off the ground. Once that happens, though, Michigan should ramp up rapidly.”
Michigan is well-positioned for its future once the state finalizes regulations for online sportsbooks. With a rate for sports betting gross revenue at 8.4%, in addition to 1.25% city tax for Detroit casinos, the tax structure is reasonable. And Michigan casinos have already struck smart partnerships with some of the biggest and best-known sports betting brands in the country, including FanDuel, PointsBet, and William Hill.
“Michigan has put together a balanced framework that is fair to operators and should yield significant tax revenue for the state,” Gouker said. “By being thoughtful in their approach, Michigan lawmakers avoided some of the growth-stunting policies that will likely slow down states such as Illinois.”
For more information and analysis on regulated sports betting in Michigan, visit PlayMichigan.com/news.
Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.
Latest News
Great Canadian Entertainment and Petroglyph Development Group announced that PDG has closed the previously announced acquisitions of Casino Nanaimo and Elements Casino Victoria from Great Canadian, in historic transactions for both parties. PDG is a wholly owned corporation of Snuneymuxw First Nation (the “Nation”) and is dedicated to realizing the economic potential of the Nation. The transactions, originally announced on June 24, 2024, for Casino Nanaimo and September 10, 2024, for Elements Casino Victoria, have received all required approvals from the regulatory authorities.
BetConstruct, a global pioneer in iGaming and sports betting solutions, has announced a significant milestone in the gaming industry. Through its affiliate entity, BetConstruct has become the first iGaming company authorized to facilitate the issuance of both Business-to-Business (B2B) and Business-to-Consumer (B2C) licenses. This remarkable achievement was made possible by obtaining a direct license authorization from the Tobique First Nation in Canada. The Tobique First Nation, renowned for its innovative and forward-thinking regulatory approach, has entrusted BetConstruct’s affiliate entity with the authority to oversee applications and facilitate the issuance of licenses from its jurisdiction. This partnership underscores shared values of innovation, transparency and a commitment to responsible gaming practices.
Partnerships
With the global social casino market projected to surpass $11 billion in 2028, MFC Games is seizing the moment with a groundbreaking partnership. Teaming up with TinyRex Games, MFC Games is combining innovation and expertise to redefine the social casino experience. This collaboration will bring TinyRex’s games to MFC Games’ highly innovative and anticipated 2025 multiplayer-first social casino platform, Clash Casino. Clash Casino is poised to set a new standard in iGaming by blending the thrill of competitive multiplayer gameplay with the thrill of reimagined classic casino experiences. Featuring real-time, multiplayer competition and social media, user network-driven mechanics, Clash Casino is designed to captivate a new generation of players and set the stage for the future of social casinos.
Global esports and gaming organisation Gen.G announced that it has established an official partnership with Logitech G, a specialist in advanced gaming gear, who will collaborate with Gen.G across the organisation to develop the optimal gaming environment for its professional players, academy students and fans. Logitech G will provide its latest innovative products like the PRO X SUPERLIGHT 2 DEX wireless gaming mouse and introduce customized solutions tailored to each team. Gen.G’s esports roster includes its highly successful League of Legends Champions Korea (LCK) team along with Rocket League and VALORANT.
Hard Rock Bet, Florida’s only legal sportsbook, is bringing jai-alai fans closer to the fronton as the World Jai Alai League (WJAL) opens its 2025 Battle Court Winter season. Through Hard Rock Bet, WJAL fans across the state of Florida will have access to an extensive range of betting options and be able to watch each match live on the app’s streaming hub for a dynamic wagering-viewing experience. Jai-Alai is among the over 20 sports available for Florida players on Hard Rock Bet’s top-rated and easy-to-use mobile app, which offers fast deposits and withdrawals, daily promotions and a free online Loyalty Rewards programme.
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Spinomenal, the leading iGaming content provider, has made its US debut after launching an exciting collaboration with a leading operator in the state of New Jersey, and is anticipating many more valuable collaborations with top tier online casinos.
Following impressive growth rates, Spinomenal is making a major move into the New Jersey iGaming market, marking a key step in its global expansion. By entering this crucial U.S. region, Spinomenal will bring its innovative games to a new audience, strengthening its presence and leadership in the iGaming industry.
Spinomenal’s specially selected titles will be going live via Pariplay’s Fusion aggregation platform in the New Jersey market. Some of the outstanding titles being made available for NJ players are Demi Gods II, Majestic Wild Buffalo and Kitsune’s Scrolls.
This marks a major milestone in Spinomenal’s strategic expansion plan, as this debut establishes the company’s initial presence within the New Jersey market, with further growth anticipated across the US iGaming ecosystem. This move underscores Spinomenal’s commitment to expanding its global footprint and further solidifying its position as a leader in the online casino industry.
Lior Shvartz, CEO for Spinomenal commented: “After a decade of establishing and positioning Spinomenal as a leading provider in the iGaming industry, we have now taken a big leap and will provide our exciting content to the esteemed New Jersey audience. We are highly optimistic about entering this prominent market, following the process of obtaining approval from the DGE.”
The post Spinomenal makes US debut with New Jersey market entry appeared first on Gaming and Gambling Industry in the Americas.
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