.
Can you please rephrase the following sentence?
According to PlayUSA, the largest game on the American sports betting calendar is expected to attract $20 million in wagers this weekend in Michigan.
Last week, our sister website projected that an astonishing amount of over $500 million will be placed in bets on the Tampa Bay versus Kansas City game during Super Bowl LV on Sunday night.
According to analyst Eric Ramsey, who assisted in calculating the figures for the PlayUSA network, including Playinmichigan, it was a challenging projection to make.
Ramsey stated that out of the 20 states listed, Michigan was possibly the most challenging to predict. He added that they aimed to be cautious in their projection due to the lack of sufficient data to accurately gauge Michigan’s situation.
Reasons why Michigan is tough to project
On January 22, Michigan will witness the launch of its new online sports betting platform.
In reality, Michiganders can now legally place bets on the Super Bowl for the first time, thanks to the introduction of retail sports betting on March 11 last year.
According to Ramsey, there is no foundation of comparisons available even in the retail markets.
He stated that not only is this its inaugural year for legal Super Bowl betting, but it comes at a time of significant market instability. It is important to note that the most recent official data from December only reflects the restricted operations of physical sportsbooks.
After the three downtown casinos in Detroit reopened, Michigan sports bettors enthusiastically placed over $9 million worth of sports bets within a week’s time in late December.
For the first time in Michigan, it is considered conservative to estimate that only approximately twice the amount will be wagered on Sunday for the Super Bowl.
Ramsey stated that the introduction of online sports betting not only sets a fresh path on its own but also becomes even more significant when it aligns with the largest betting occasion of the year.
Legal Super Bowl LV bets will break national records
Sunday’s game has made it clear that Michigan is not the sole new market for sports betting. Currently, 20 states, in addition to the District of Columbia, have legalized sports betting.
The number of states has increased compared to previous years. Last year, it was 14 states, in 2019 it was eight states, and before 2018, it was only Nevada.
Playinmichigan’s lead analyst, Dustin Gouker, expressed that a momentous weekend is bound to occur due to the flourishing of legal sports betting in various new and existing markets. Gouker stated that the thought of half a billion dollars or even more being wagered on a single game may seem unimaginable, but given the trajectory of the US market, achieving such a substantial amount is highly feasible.
According to PlayUSA, Super Bowl betting is anticipated to be dominated by Nevada this year, with projected wagers amounting to $125 million. Following closely behind, New Jersey takes the second spot with $75 million, while Illinois secures the third position with $60 million. Pennsylvania lands in fourth place, expecting $55 million in bets, and Indiana rounds out the top five with projected wagers of $45 million.
Eleven sports betting operators in Michigan
Michigan residents now have a total of 11 operators to choose from with the recent launch of Fox Bet on Friday. Alongside a few retail casinos, the online operators available in the state are:
- Barstool
- BetMGM
- BetRivers
- DraftKings
- FanDuel
- Fox Bet is the name of a sports betting platform.
- The Golden Nugget
- PointsBet
- TwinSpires
- William Hill is a well-known bookmaker and gambling company.
- WynnBet
Playinmichigan estimates that in the state of Michigan, approximately $8 billion will be wagered annually in a fully developed sports betting market. Based on recent data regarding wagers and revenue generated since its launch last month, we anticipate that Michigan will soon become one of the top five markets in the country.
The Super Bowl will be accompanied by various promotions, odds boosts, and additional offerings.
Throughout the week, we will ensure you stay updated on those matters, so be sure to stay vigilant.
Please rewrite your request. It is currently incomplete.
Related Articles
Please rephrase your request and provide the original sentence for rewriting.