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On Thursday, TwinSpires made the announcement that they are withdrawing from the online sports betting and casino game.
While it may limit the choices for Michigan bettors, it also creates an opportunity for a new betting app to enter the state.
Will the successful first year in the online market lead to more opportunities for Island Resort & Casino?
What is the true worth of an online partnership opportunity in Michigan?
TwinSpires first to step away in Michigan
Users in the state of Michigan have access to a total of 14 online sportsbooks and casino options.
TwinSpires becomes the first to declare its intention to cease operations, following the commencement of legal online gambling in January last year.
TwinSpires, previously known as BetAmerica, ventured into online gaming to expand its horse racing app. Despite operating in Michigan for over a year, it generated slightly above $1.4 million in gross revenue.
But looking at last year’s revenue numbers for online sports betting and casinos, it becomes evident that the market can be highly profitable when approached correctly.
The timeline for TwinSpires’ departure from Michigan is currently uncertain. Island Resort & Casino declined to provide any comment regarding the conclusion of their partnership.
Attempts to contact the Hannahville Indian Community have not received an immediate response.
Who can step in?
The complete terms of the license agreement between TwinSpires and Island Resort & Casino remain unclear at present. In Michigan, the state grants operator and supplier licenses for a duration of five years.
The Michigan Gaming Control Board states that it is possible to obtain or transfer platform licenses, and operators have the option to enter into agreements with different platforms.
One license can be granted by each operator for an online sports betting brand, an online casino brand, and an online poker brand.
The Hannahville Indian Community may consider developing its own sports betting app as an option. Currently, FireKeepers Casino and Four Winds Casinos have successfully established their own online sportsbook and casino platforms.
Here are a few potential new contenders that may be interested in entering the Michigan market, now that TwinSpires is stepping away.
Circa Sports
Detroit native Derek Stevens and his casino empire with Circa Sports in Las Vegas have been a topic of discussion.
Stevens, who operates online in Nevada and Colorado, finds it logical to bring his product to his own state. Moreover, he is keen on pursuing this opportunity.
When we contacted Stevens about the potential opening in Michigan, he confirmed the information.
He mentioned that Circa Sports has always had an interest in Michigan, their original home state. “Let’s wait and see what unfolds,” he added.
Bally Bet
Bally Sports Detroit has made the Bally’s name well-known in Michigan.
In October, Bally’s Corporation initiated its expansion goals by acquiring Gamesys Group, a prominent UK-based igaming operator.
Bally Bets, a renowned hotel brand, is already established in various states across the United States such as Colorado, Iowa, Arizona, Indiana, and Virginia. Now, this iconic brand has also made its mark in Las Vegas.
bet365
As of now, bet365, one of Europe’s largest gambling brands, is exclusively available in New Jersey.
A sizable international brand might be seeking to further penetrate the expanding American market.
Betway
After gaining popularity in the UK and Ireland, Betway has made a significant entrance into the United States.
Betway is now accessible in Colorado, Iowa, Indiana, New Jersey, and Pennsylvania, offering an extensive selection of sports, including numerous European leagues.
Fubo Sportsbook
The TV service that everyone loves has now entered the realm of sports betting. By cleverly integrating their streaming platform, users can now access real-time betting information related to the content they are streaming.
Currently, Fubo Sportsbook can be accessed in Iowa and Arizona. However, a recent collaboration has been established between Fubo and the Cleveland Cavaliers to endorse Fubo’s Gaming brand within the arena.
Could Fubo be targeting Michigan next with a partnership in a neighboring state?
MaximBet
Following a collaboration with the Maxim media brand, SportsBetting.com has undergone a rebranding and is now known as MaximBet. The platform is currently operational in Colorado and has successfully established market access agreements with four additional states.
The Maxim brand holds great appeal for a younger audience, making it a perfect match for the new wave of bettors entering the online market.
SI Sportsbook
Sports Illustrated has joined forces with 888Sport, a renowned brand in European sports betting markets, to venture into the online gaming realm with SI Sportsbook.
At the moment, Colorado represents the sole operational location of 888Sport, while it has already obtained legal status in New Jersey. SI Sportsbook has set its sights on expanding to Iowa and Indiana as well.
Although Sports Illustrated remains a prominent figure in the American sports media industry, it has experienced a decline from its former glory.
SuperBook
The Westgate SuperBook has made previous attempts to enter the Michigan market, and currently, it is available in Colorado, Nevada, and New Jersey.
Despite representatives appearing on Michigan sports radio for years, SuperBook is still not available for betting in the mitten state.
SuperBook, renowned for its SuperContest, a highly anticipated handicapping event held during the NFL season, could seamlessly integrate into Michigan.
Tipico
Gannett partnered with Tipico last summer to secure the exclusive rights as the USA Today’s sole provider of sports betting and igaming services in the United States.
Tipico establishes a connection with Michigan through its association with media outlets like the Detroit Free Press, Lansing State Journal, and Port Huron Times Herald, all operating under the Gannett umbrella.
With current operations in New Jersey and Colorado, it is anticipated that more states will be included in the near future. Is Michigan a potential addition?
Unibet
Unibet, despite being a recent addition to the online sports betting scene in the country, has swiftly made a name for itself.
Unibet, currently operational in New Jersey, Pennsylvania, Virginia, Iowa, Arizona, and Indiana, has plans for additional expansion in the upcoming months.
Unibet, established in 1997 in Europe, has expanded its sports betting platform to over 100 countries.
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