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Online sports betting in Michigan may be arriving earlier than anticipated.
Just in time for March Madness, the inaugural physical Michigan sportsbooks successfully commenced operations.
Nevertheless, the sportsbooks were unable to gain momentum due to the COVID-19 pandemic as casinos across the state suspended operations shortly after the initial sports bets were made.
Michigan has been unable to enter the market, preventing online sports betting apps from potentially mitigating the impact of retail casino closures.
Initially, the state had no intention of introducing online betting until the beginning of 2021. However, legislators are now making efforts to expedite the process and express optimism for an online sports betting launch in 2020.
No matter how Michigan’s timeline turns out, we can look to its neighboring state in the south to gain insight into the potential progression of sports betting in the Wolverine State.
Indiana has been engaged in sports betting for almost ten months now. Being the first state in the region to initiate this, Indiana can serve as a blueprint for Michigan’s market.
Long wait for online betting in Michigan
The disparity between Indiana and Michigan lies in the time gap that separates the opening of retail sportsbooks from the launch of online apps.
Michigan residents have patiently endured a prolonged wait for online betting, especially when compared to their counterparts in Indiana.
In September 2019, the commencement of retail sportsbooks in Indiana was followed by the opening of Indiana online sportsbooks a mere month later.
Unsurprisingly, the introduction of online betting sparked a significant surge in Indiana’s handle. In the initial month without online wagering, the state accumulated $34 million in bets. However, following the launch of online sportsbooks the following month, this figure rapidly skyrocketed to exceed $90 million.
Michigan could potentially experience a significant 163% surge in wagers on a month-to-month basis once its online sportsbooks become operational.
The question remains: When will online betting be launched in the state?
If Michigan fails to achieve the 2020 launch, there is a possibility of a one-year interval between the initiation of retail sportsbooks and the eventual introduction of online betting.
While the additional waiting time may not be ideal for Michigan gamblers, it has the potential to enhance competition in the state’s market. With a few additional months to prepare, a greater number of sportsbooks could be ready for online betting on the very first day.
Plenty of competition for Michigan
One other significant distinction between Indiana and Michigan lies in the potential abundance of online sportsbooks right from the beginning.
Only DraftKings Sportsbook and BetRivers Sportsbook were prepared to accept wagers on the inaugural day of online sports betting in Indiana. FanDuel Sportsbook, however, joined the scene a couple of weeks after.
As sportsbooks continue to establish partnerships across Michigan, the delay in launching online betting provides them with additional time to thoroughly prepare for the first day of betting activity.
There are operators already in the pipeline.
- DraftKings
- FanDuel
- BetMGM can be rewritten as MGM Bet.
- Barstool
- The name FOX Bet could be rephrased as “Bet on FOX” or “FOX Betting.”
- William Hill is a company that operates in the gambling industry.
Nevertheless, despite the anticipation, all of those sportsbooks remain in a holding pattern, eagerly awaiting the official completion of online betting regulations. Once lawmakers have solidified the rules, sportsbooks will be able to fully prepare themselves for an imminent launch.
The presence of a few sportsbooks operating right from the beginning will boost competition in Michigan’s market.
Indiana spent almost three months to establish four online sportsbooks, whereas Michigan has the capability to launch with the same number of sportsbooks right from the beginning.
Michigan’s market would experience a significant victory if it launches sometime in autumn. With football betting reigning supreme, sportsbooks in Michigan are eager to join the excitement.
Michigan’s race for NFL betting
In a race against time, Indiana legislators worked diligently to ensure the state’s online launch was prepared by the autumn of 2019, with the main objective of being fully operational in time for the NFL season.
Michigan now finds itself in a comparable situation.
Assuming things go as planned, online betting may be introduced in Michigan sometime from October to December. Despite the state potentially missing the beginning of the football season, it could still be accessible for a significant portion of it.
Michigan betting could potentially place college football on equal importance with the NFL.
College football betting will undoubtedly play a significant role, considering the success of programs like Michigan and Michigan State.
The launch of online betting in Michigan this fall could potentially make a significant impact on the initial success of football betting. Given that football is the most favored sport for betting in the US, this move could be crucial in ensuring a successful start and generating substantial revenue in the first few months.
During September 2019, football enthusiasts in Indiana placed bets worth more than $20 million solely through retail sportsbooks. However, following the introduction of online betting in the state in October, this figure skyrocketed to exceed $41 million in football wagers. By the time December rolled around, the total amount of bets made had reached slightly below the impressive milestone of $60 million.
With the combination of football betting and heightened competition, Michigan has the potential for a highly prosperous online launch.
The key to the entire situation lies in the fall timeline; hence, it is crucial for online betting to launch as soon as possible. If Michigan fails to act swiftly, the state might miss the opportunity to replicate Indiana’s successful launch.
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