On Thursday, TwinSpires made the announcement that they are withdrawing from the online sports betting and casino game.
While this reduces the options for Michigan bettors, it also creates an opportunity for a new betting app to enter the state.
After a successful first year in the online market, could this strong start bring new and improved opportunities for Island Resort & Casino?
What is the true worth of an online partnership opportunity in Michigan?
TwinSpires first to step away in Michigan
In the state of Michigan, there are a total of 14 online sportsbooks and casino choices accessible to users.
TwinSpires becomes the first to declare its intention to cease operations, following the initiation of legal online gambling in January last year.
TwinSpires, previously known as BetAmerica, ventured into online gaming to expand its horse racing app. However, its presence in Michigan resulted in a modest gross revenue of just over $1.4 million over a period exceeding one year.
Nevertheless, the revenue numbers from online sports betting and casinos in the previous year indicate that if approached correctly, it can be a highly lucrative market.
The timeline for TwinSpires’ departure from Michigan remains uncertain at this time. Island Resort & Casino declined to provide any comment regarding the conclusion of their partnership.
Attempts to contact the Hannahville Indian Community have not been promptly responded to.
Who can step in?
The complete specifics of the license agreement between TwinSpires and Island Resort & Casino remain somewhat uncertain at present. In Michigan, the state grants operator and supplier licenses for a period of five years.
The Michigan Gaming Control Board states that it is possible to obtain or transfer platform licenses, and operators are allowed to enter into agreements with different platforms.
Every operator has the authority to issue licenses for one brand in online sports betting, one brand in online casino, and one brand in online poker.
The Hannahville Indian Community might consider developing its own sports betting app as an option. FireKeepers Casino and Four Winds Casinos are currently running their own online sportsbook and casino, setting a precedent.
Here are some potential new suitors who might be interested in entering the Michigan market, now that TwinSpires is stepping out.
Circa Sports
Detroit native Derek Stevens and his casino empire in Las Vegas with Circa Sports have been the subject of our discussions.
Stevens, who operates online in Nevada and Colorado, finds it logical to introduce his product to his home state. Additionally, he is eager to pursue this opportunity.
When we contacted Stevens about the possible opportunity in Michigan, he verified the information.
He stated that Circa Sports has always had an interest in Michigan, their original place of establishment. Now, they will wait and see how things unfold.
Bally Bet
Bally Sports Detroit has made the Bally’s name widely recognized in Michigan.
In October, Bally’s Corporation took a small step towards its expansion goals by acquiring Gamesys Group, a renowned global igaming operator based in the UK.
Bally Bets, an iconic hotel brand, has established its presence in various states including Colorado, Iowa, Arizona, Indiana, and Virginia, and now it has expanded to Las Vegas as well.
bet365
As of now, bet365, one of Europe’s largest gambling brands, is exclusively accessible in New Jersey.
The large global brand may be interested in further exploring the expanding American market.
Betway
After gaining popularity in the UK and Ireland, Betway has recently made a significant expansion into the United States.
Betway currently offers an extensive range of sports, including various European leagues, to customers in Colorado, Iowa, Indiana, New Jersey, and Pennsylvania.
Fubo Sportsbook
The well-liked TV service has now entered the realm of sports betting. Through a seamless integration with the streaming platform, users can now access real-time betting information that aligns with the content they are currently streaming.
At present, Fubo Sportsbook is accessible in both Iowa and Arizona. Nevertheless, it has recently formed a marketing alliance with the Cleveland Cavaliers to endorse Fubo’s Gaming brand across the entire arena.
Is Fubo considering expanding to Michigan with a potential partnership in a neighboring state?
MaximBet
MaximBet, formerly known as SportsBetting.com, has undergone a rebranding following its partnership with the Maxim media brand. Presently, MaximBet is operating in Colorado and has already secured market access agreements with four additional states.
The Maxim brand is undeniably attractive to a younger demographic, which aligns well with the emerging wave of online bettors from the new generation.
SI Sportsbook
SI Sportsbook, in collaboration with renowned European sports betting brand 888Sport, marks Sports Illustrated’s entrance into the online gaming industry.
At present, Colorado remains the sole accessible location for 888Sport, while it has already obtained legal status in New Jersey. In addition to this, SI Sportsbook has set its sights on expanding to Iowa and Indiana.
Although Sports Illustrated remains a recognizable brand in the American sports media sector, it has experienced a decline from its former prominence.
SuperBook
The Westgate SuperBook, which has previously made efforts to enter the Michigan market, is currently accessible in Colorado, Nevada, and New Jersey.
Despite representatives appearing on Michigan sports radio for years, SuperBook remains unavailable as a betting option in the mitten state.
SuperBook, renowned for hosting the SuperContest, a popular handicapping event during the NFL season, would seamlessly blend into Michigan.
Tipico
During the previous summer, Gannett and Tipico joined forces to establish an exclusive partnership, making Gannett the sole provider of sports betting and igaming services for USA Today in the United States.
Tipico is linked to Michigan through its association with the Gannett umbrella, which encompasses the Detroit Free Press, Lansing State Journal, and Port Huron Times Herald.
Is Michigan expected to be one of the states added soon, in addition to our current operations in New Jersey and Colorado?
Unibet
Unibet has rapidly solidified its position in the country’s online sports betting scene, despite being a relatively new player in the market.
Unibet, currently operational in New Jersey, Pennsylvania, Virginia, Iowa, Arizona, and Indiana, has plans for further expansion in the upcoming months.
Unibet, established in 1997 in Europe, has introduced its sports betting platform across over 100 countries.
