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According to the findings of a Piplsay sports betting study, if they hold true for Michiganders’ behavior, the state’s newly legalized sportsbooks may not experience a remarkable year in 2020. However, this is only in relation to the potential success expected in the upcoming years.
Based on the research, it is evident that the app is the primary focus. Due to potential delays in Internet wagering in the Wolverine State, it is reasonable to anticipate underwhelming figures.
What the Piplsay sports betting study shows
Piplsay conducted an online survey that garnered close to 29,000 responses from individuals residing in the United States. The survey did not specify the number of respondents who are residents of Michigan.
Although the surveyed sample of 28,533 individuals makes up less than 0.1% of the total US population, the findings still hold significance. Regrettably, for companies planning to establish retail sportsbooks in Michigan in the near future, the results do not provide an overwhelmingly positive outlook.
According to the study, 42% of the respondents who reported regularly placing bets on sporting events do so through online platforms. This percentage was significantly higher than the other three options combined, surpassing them by at least 14%.
The delay in the launch of online sportsbooks in Michigan until 2021 stems from the ongoing process of finalizing regulations for these operators in the state.
Although retail sportsbooks may be available starting this month, their popularity remains uncertain. Some residents of Michigan may choose to keep traveling to nearby Indiana or resort to offshore platforms for online betting instead.
Despite the study’s findings, there is still a glimmer of hope for brick-and-mortar sportsbooks. If they strategize wisely, they might be able to achieve a prosperous launch.
The good news in the study for Michigan sportsbooks
The retail books, whether they go live this month or not, are expected to be open well in advance of the upcoming college football and NFL seasons. Research indicates that football is the most favored sport for betting in the US.
The potential consequences for Michigan’s sportsbooks could be significant, with the extent of the impact hinging on the preparation leading up to the seasons and public knowledge about the available legal sports betting opportunities in the state.
Michigan casinos have made a promising start by forming partnerships with esteemed sportsbook brands like FanDuel, PointsBet, and William Hill.
These brands possess extensive expertise in effectively promoting their products to sports bettors. Furthermore, they can leverage the casinos’ knowledge of the local customer base to their advantage.
Additionally, the sportsbooks have the advantage of novelty. With the legalization of sports betting, many people in Michigan will be experiencing this activity for the first time.
This solution might suffice until online wagering is authorized by the state, making the temporary drawback of this study for Michigan only fleeting.
Why this “gloom and doom” could be quickly forgotten
Many states often allow traditional betting establishments before permitting online gambling. In states such as New York, there is currently no specified timeframe for the introduction of online wagering.
In comparison to the forthcoming years, 2020 may only be considered a “down year,” as online handle is expected to significantly boost the overall revenue for the state’s sportsbooks. It is evident that any revenue generated by the sportsbooks in Michigan this year will undeniably set a new record.
Although the inclusion of online wagering would greatly enhance the initial year of legal betting, the state will have to wait patiently until that becomes a reality. Only then will the legal sports betting market in the state truly reach its full potential and mature.
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