Michigan Legal Sports Betting Overview
MI Sports Betting Law Details
Status
📆 Retail Sports Betting Launch Date:
March 2020
📆 Online Sports Betting Launch Date:
January 2021
✅ Licensed Sportsbooks:
131 Sportsbook, Barstool Sportsbook, BetMGM, BetRivers, Caesars, DraftKings, Eagle Casino & Sports, FanDuel, FireKeepers, Four Winds Sportsbook, FOX Bet, Golden Nugget, PointsBet, TwinSpires, WynnBET
🔞 Legal Gambling Age in MI:
21+
🈠Sports to Bet On:
NFL, NBA, MLB, NHL, MLS, MMA, WNBA, motorsports, soccer, rugby, boxing, tennis, golf, college sports
🦠Permitted Banking Options:
Mastercard, PayNearMe, PayPal, Play+, Skrill, Visa, Automated Clearing House (ACH), bank transfers, eCheck, wire transfers
âš–ï¸ Michigan Gambling Regulator:
Michigan Gaming Control Board
Michigan Governor Legalizes Sports Betting
Michigan Governor Gretchen Whitmer signed the Lawful Sports Betting Act into law in December 2019, legalizing sports betting in the Great Lakes State. This significant development paved the way for the opening of retail sportsbooks in March 2020, despite the COVID-19 pandemic hitting around the same time. The retail sports betting industry faced initial setbacks due to the pandemic but managed to recover quickly. The real boost to the Michigan sports betting market came in January 2021 when online sports betting was also legalized. This led to the launch of 15 online sportsbooks, including prominent operators like BetMGM, Caesars, and DraftKings. To comply with the new betting act, every sportsbook was required to partner with a land-based casino, which in turn led to the opening of numerous retail sportsbooks. In this comprehensive guide, we will explore the best sportsbooks in Michigan, the available bonuses, and provide you with everything you need to know about legal sports betting in the state.
Michigan Online Sportsbooks Compared
With 15 online sportsbooks operating in Michigan, sports fans have a wide range of options when it comes to choosing the best betting site. Each sportsbook has its own unique strengths, such as generous betting odds, fast payouts, and top-notch mobile apps. The best sportsbook for you depends on your personal preferences and priorities. Here are some of Michigan’s top-rated online sportsbooks and what they excel in:
Best Mobile App – DraftKings
The DraftKings sportsbook app is highly rated on the Apple App Store for a reason. It boasts a user-friendly interface that provides easy navigation and convenient access to customer support. Additionally, DraftKings offers industry-leading promotions that are simple to redeem through the app. Users can also participate in betting pools and receive notifications about upcoming sports events. Make sure to grab your DraftKings Sportsbook promo code for Jul 2023.
Best Welcome Bonus – Caesars
For those seeking the best welcome bonus in Michigan, Caesars Sportsbook is the go-to option. Currently, Caesars offers up to $1,250 in first bet insurance. If your first bet loses, you will receive your money back as a single bet credit, allowing you to recoup your losses. While you won’t receive your stake back, you can cash out your winnings without any wagering requirements. Just keep in mind that the bet credits must be used within 30 days. Don’t forget to claim your Caesars Sportsbook promo code for Jul 2023.
Best for Competitive Odds – Caesars
While all Michigan sportsbooks offer competitive odds, Caesars stands out for consistently offering the most generous odds, especially for major sports leagues. Whether it’s player props or European soccer betting lines, Caesars’ odds tend to be higher than the industry average. Additionally, Caesars runs daily odds boosts, which enhance betting lines and increase potential payouts.
Best for Market Coverage – TwinSpires
When it comes to market coverage, few sportsbooks in Michigan can match TwinSpires. This sportsbook provides extensive coverage of every major US sport and even offers markets for smaller sports like lacrosse that may not be available at other sportsbooks. It’s worth noting that TwinSpires also features a horse race betting platform integrated within its site, allowing users to wager on the latest horse racing events.
Best for Beginner Bettors – BetRivers
For newcomers to the world of sports betting, BetRivers is the ideal choice. The sportsbook’s straightforward design makes it easy for new players to navigate through markets, find the best odds, and place their first bets. The site displays essential information clearly, and users can access all their account settings with just a click. On the main page, only the most popular markets are displayed, along with moneyline and spread odds. Get your BetRivers Sportsbook promo code for Jul 2023.
Best for Payout Speed – PointsBet
While most Michigan sportsbooks offer quick payout processing times, PointsBet sets itself apart by offering instant withdrawals. If no further checks are required for your withdrawal, the transaction will be completed immediately. However, it’s important to note that some withdrawal methods, such as online bank transfers and check requests, may take longer to process.
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How Does Michigan Compare to Other States?
Market Coverage
Michigan has one of the most unrestrictive sports betting laws, allowing complete pre-game and live coverage of events from anywhere within the state. Unlike neighboring states like Indiana, Michigan has no restrictions on college betting, allowing bettors to wager on in-state teams. This includes prop betting, which is restricted in some nearby states.
Competitive Odds & Prices
Michigan sportsbooks offer competitive odds that are on par with those offered in other states. There is no significant difference in odds between states, ensuring that bettors in Michigan receive the latest competitive odds and betting lines from most sportsbooks.
Gambling Revenue
Since the launch of sports betting in Michigan in 2019, the state has generated significant tax revenue. As of May 2022, Michigan has collected $13,764,842 in taxes from sportsbooks, which accounted for 8.4% of the $428,129,082 in revenue collected by sportsbooks during that time. The monthly betting handles have seen substantial growth, with the first month of retail betting disrupted by the COVID-19 pandemic generating only $593,956. In contrast, February 2021, the first month with online gambling, saw a handle of $325,569,037. The market has continued to grow, with a record $1,966,646 in taxes collected in November 2021.
Betting Taxes
According to the Internal Revenue Code, every sportsbook in Michigan is subject to a 0.25% excise tax on the betting handle. Additionally, a $50 tax is imposed on each employee involved in taking wagers. The state also levies an 8.4% tax on all sportsbook revenue. However, this tax rate is relatively low compared to states like Pennsylvania, where the tax rate is 36%. Commercial casinos in Detroit must pay an additional 1.25% tax on their sports betting revenue. For tax purposes, sports betting winnings should be reported on IRS tax form W-2G, and sportsbooks may hold up to 25% of a bettor’s winnings for tax purposes. Bettors are required to pay tax if they make a profit of $600 or more, and relevant documents should be provided by the sportsbook once this threshold is reached.
How to Place a Bet in Michigan
If you’re a Michigan sports fan who hasn’t yet delved into the world of betting, now is the perfect time to start. Here’s a step-by-step guide on registering with a sportsbook and placing your first bet:
1. Select the betting site that best suits your needs from the 15 licensed sportsbooks operating in Michigan.
2. Most sportsbooks offer mobile apps that can be downloaded from the Apple App Store or Android Play Store. Alternatively, you can download the app directly from the sportsbook’s website.
3. During the registration process, you will need to provide your date of birth, full name, phone number, and Social Security number to verify your identity.
4. Make your first deposit by visiting the sportsbook’s cashier section. If the sportsbook offers a welcome bonus, be sure to redeem it and claim your exclusive reward.
5. Using your bonus funds or deposited funds, choose a market and add it to your bet slip. Select your desired stake to place your first wager.
6. If your bet is successful, head back to the cashier section and follow the instructions to withdraw your winnings.
Banking Methods Available in Michigan
Most sportsbooks operating in Michigan offer a wide range of banking methods to cater to different preferences. Here are some popular banking options available in the state:
– Credit and Debit Cards: Most sportsbooks accept major credit and debit cards such as Visa and Mastercard. However, note that some banks may block payments made with certain cards like American Express.
– E-Wallets: E-wallets like Skrill and PayPal are widely accepted by many sportsbooks for both deposits and withdrawals.
– Play+ Prepaid Cards: Many sportsbooks welcome Play+ prepaid cards, which can be used for both deposits and withdrawals.
– PayNearMe: If you prefer to make deposits in person, you can use a PayNearMe card at participating retailers such as 7-Eleven and CVS. Simply visit a location, load funds onto your card, and use it to make deposits.
– Bank Transfers: Sportsbooks often accept bank transfers, eChecks, and wire transfers as banking options. These methods allow for direct transfers between your bank account and the sportsbook.
– Other Methods: Additional banking options may include Automated Clearing House (ACH) transfers and wire transfers, depending on the sportsbook.
Who is Not Eligible to Bet in MI?
To place legal wagers in Michigan, individuals must be at least 21 years old and physically located within the state’s borders. However, certain individuals are prohibited from betting due to their occupation or circumstances. These include:
– College coaches, athletes, and sports team members.
– Referees at the professional, minor league, and college level.
– Individuals in positions of authority within sports teams who could potentially influence players.
– Employees of sports leagues that create regulations, such as the NBA and NFL.
– Employees of sports betting operators and licensed casinos, including officers, owners, directors, and other crucial staff members.
– Individuals with access to confidential information about professional or college sports teams, such as player medical records.
– Individuals who are ineligible for betting on a state or federal level, possibly due to a criminal history.
– Individuals who have voluntarily excluded themselves from participating in gambling activities.
Latest Michigan Sports Betting Updates
Current Sports Betting Status in Michigan
Michigan joined the list of legal betting states with the launch of retail sportsbooks in 2020. After temporary closures due to the COVID-19 pandemic, online sportsbooks were launched in 2021. As of now, residents and visitors in Michigan can register with any of the 15 licensed sportsbooks and place bets conveniently from anywhere within the state. Notably, Michigan stands out for its lack of restrictions on college betting, setting it apart from many other states.
Timeline for Sports Betting in Michigan
– January 2021: Michigan launched its online sportsbook apps and sites, generating a betting handle of $150 million in the first month alone.
– March 2020: Retail sportsbooks were launched in Michigan, with MGM Grand Detroit taking the first legal retail sports bets.
– December 2019: Governor Whitmer signed the Lawful Sports Betting Act into law, legalizing sports betting in Michigan and enabling casinos to apply for sports betting licenses.
– December 11, 2019: The Senate approved HB 4917, the bill that would legalize sports betting in Michigan, by a vote of 359-35.
– October 30, 2019: The House passed HB 4917, and the bill was sent to the Senate for approval.
– April 9, 2019: Representative Matt Hall introduced HB 4917 to legalize sports betting in Michigan.
– 2018: A bill to legalize sports betting in Michigan was introduced but vetoed by Governor Rick Snyder.
– May 2018: The United States Supreme Court declared the Professional and Amateur Sports Protection Act of 1992 (PASPA) unconstitutional, granting states the authority to legalize online sports wagering.
– 2017: The Lawful Internet Gaming Act was passed by a committee in the Michigan Legislature.
Michigan Sports Betting Background
Michigan has a progressive stance on gaming, as demonstrated by voters’ approval of amendments to state law in 1972 that allowed a state lottery and charitable gambling. In 2017, the Michigan Legislature passed the Lawful Internet Gaming Act, which was later dismissed by Governor Snyder. It wasn’t until 2019 that attempts to legalize sports betting gained traction and were successful.
Future of Michigan Sports Betting
With the addition of Eagle Casino and Sports, Michigan has reached its limit of 15 licensed sportsbooks. However, based on the market’s popularity, lawmakers may consider changing regulations to allow more operators to launch in the future. Furthermore, with TwinSpires Sportsbook ceasing operations, a spot will soon become available for a new operator to enter the market.
Michigan Responsible Gambling Resources
It’s essential to prioritize responsible gambling when engaging in sports betting. Michigan offers various resources to support individuals who may be experiencing gambling-related issues. Here are some organizations and helplines that can provide assistance:
– National Council on Problem Gambling: This organization offers resources such as helpline numbers and a live chat for support. They can also refer individuals to local and national organizations that can provide further help. (800) 270-7117
– Michigan Department of Health & Human Services: The department provides a helpline for individuals in need of support and can refer bettors to treatment programs. They also offer additional advice on responsible gambling.
– Michigan Association on Problem Gambling: This association helps individuals find local support groups in their area and provides a self-test questionnaire to assess problem gambling behavior. (517) 672-6904
Michigan also offers a state-wide self-exclusion program, which allows individuals to voluntarily exclude themselves from gambling activities and prevents them from registering with gambling organizations. Sportsbooks are required to offer this exclusion service to bettors, in line with regulations set by the Michigan Gaming Control Board. Additionally, betting sites should provide resources on sports betting and account tools to promote responsible gambling. These tools may include deposit limits, loss limits, and spend limits to help individuals maintain control over their gambling activities.
Who Oversees Sports Betting in Michigan?
The Michigan Gaming Control Board (MGCB) is responsible for overseeing and regulating all sports betting operations in the state. The MGCB issues licenses to sportsbooks, ensures they comply with regulations, and collects taxes and fines. The board consists of both executive staff members and appointed board members to ensure fairness and protect the public interest. The MGCB conducts safety checks to ensure that licensed sportsbooks are secure and promotes responsible gambling practices in the industry.
