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The fall season has witnessed a significant setback in one of the major foundations of the Michigan sports betting market.
For a considerable amount of time, the professional sports scene in Detroit has been characterized by a bleak atmosphere filled with sorrow.
Michigan is an appealing sports gambling market due, in large part, to the fervent and devoted fan bases of its college sports teams.
With the presence of Michigan and Michigan State, along with the excitement of the college football season, it becomes apparent that fall Saturdays have the potential to generate significant revenue through sports gambling apps and retail sportsbooks.
Similar to the Wolverines and Spartans’ 2020 seasons, the market has also been put on hold.
On Tuesday, the Big Ten released a statement declaring the postponement of fall sports. The league plans to assess the possibility of organizing sports events, such as football, during the springtime.
After a flurry of reports on Monday and the state’s most influential college football figure’s efforts to salvage it, this situation unfolded.
Betting on in-state college teams legal in Michigan
While betting on in-state college teams is prohibited in Illinois, Michigan allows betting on all teams without any restrictions. However, the absence of games to bet on renders this freedom inconsequential.
Apart from the Big Ten, the football teams of Central Michigan, Eastern Michigan, and Western Michigan from the state’s Mid-American Conference will also refrain from playing this season.
Betting on NCAA divisions lower than Football Bowl Subdivision is not permitted in Michigan. However, it is highly unlikely to have any significance as those levels are currently experiencing cancellations of their seasons at different stages.
According to the Michigan Department of Treasury, initial projections indicated that the state would receive a yearly boost of $19 million in tax revenue following the legalization of sports betting and internet gaming.
College football betting could be 15% of market
Michigan is preparing to launch online sports betting in the fall, with college football expected to play a significant role, although market estimates vary.
In the absence of historical data, making predictions about the Michigan market is largely based on speculation. However, industry estimates suggest that college football holds approximately 10-15% of the overall sports betting market. Moreover, the potential for growth in the Great Lakes State could even surpass this estimate.
It is reasonable to argue that an increase in NFL betting could potentially offset the loss for sportsbooks, assuming that professional games actually take place.
The cancellation of their seasons is anticipated for other major college football conferences as well. Nonetheless, the Southeastern Conference football might be one of the final ones to follow suit, if it does so at all.
UM’s Harbaugh spoke up in favor of football season
Jim Harbaugh, the football coach of Michigan, is not in agreement with the conference’s decision and does not stand in solidarity.
On Monday, as news about the uncertain fate of the Big Ten season circulated, the mysterious lightning rod coach expressed his thoughts.
Harbaugh issued a statement highlighting the predominantly fruitful testing conducted in Ann Arbor, aiming to disseminate their protocols and curb further transmission of COVID-19.
“In our endeavor to create a successful solution and offer players ample opportunities to engage, we have successfully crafted an exceptional prototype,” expressed Harbaugh. “By maintaining transparency and adhering to the prescribed guidelines, we can achieve this desired outcome.”
According to Harbaugh, out of the 893 tests conducted, Michigan football has recorded 11 positive cases, with no positive results in the last 353 tests.
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