Last month, Gov. Gretchen Whitmer signed the state’s Online Gambling Bill 4311 into law. So, operators have the green light to apply for Michigan Online Gambling licenses. According to the bill, the state’s 23 tribal and three commented casinos are eligible to apply for a sports betting license. Immediately, PointsBet Holdings Ltd. and The Stars Group Inc. (TSG) promptly struck sports betting deal with Michigan tribal gaming operators.
Sports betting applications are available - Michigan online gambling licenses
The Michigan Gaming Conrol Board (MGCB) is currently developing its sports betting rules, but there is no confirmation for when those will be complete. Under the new law, sports betting will be legal at all of the casinos, but there will be some minute differences in how that will play out.
In fact, mobile sports betting cannot launch until at least one commercial and one tribal casino is licensed. Another key point, Michigan’s commercial casinos can launch retail sportsbooks without concern for where tribal casinos are in the process
Indeed, there are a dozen tribal casino groups in Michigan, which own and operate in a total of 23 casinos. Under the Michigan sports betting law, each casino operator in the state can have only one online/mobile sports wagering partner, also known as skin.
Not to mention, there is an application fee of $50,000, along with $100,000 for the actual license and $50,000 to renew annually. Accordingly, the state has set an 8.4% tax on adjusted-gross sports betting receipts.
As the Stars Group and PointsBet are on their way, players can place a bet on pretty much every sporting event. Some of the top betting options are NFL, NBA, MLB, NHL, MLS, Boxing, PGA tour, Kentucky Derby, Wimbledon, and more.
PointsBet finds online sportsbook partner in MI
PointsBet made sure to grow more in the US after inking an exclusive partnership with Lac Vieux Desert Public Enterprise and Finance Commission. It is an arm of the Lac Vieux Desert Band of Lake Superior Chippewa Indians.
Sam Swanell, CEO of PointsBet Group, said: “PointsBet is pleased to have reached an agreement for both online sportsbook and online casino operations with such a forward-thinking tribe. We look forward to many years of great success working together in Michigan.”
The agreement involves PointsBet and LVD partnering to launch digital sports wagering via PointsBet’s mobile app and website platforms. In addition, it provides for the launch of PointsBet and LVD branded casino operations. However, final regulations and licensure are pending.
The initial term of the agreement is 20 years. In fact, it automatically renews for an additional 5-year term unless either party provides written notice saying not to proceed. Furthermore, the two are also in discussions regarding the operation of retail sportsbook operations at the Northern Waters Casino Resort.
The Stars Group inks deal with MI Tribe – Michigan online gambling licenses
On 6 January 2019, The Stars Group made an announcement that it is entering into an online gambling market access agreement with the Little Traverse Bay Bands of Odawa Indians Gaming Authority.
Therefore, TSG secures first skin access to online poker, casino games and sports betting soon after Michigan legalizes online gambling.
Robin Chhabra, CEO of FOX Bet, said: “We are excited to announce this agreement with the Odawa tribe. This further strengthens our market access as we work to continue to build our FOX Bet business into one of the leaders in the emerging U.S. online betting and gaming market.”
PokerStars and FoxBet are the two major brands of The Stars Group. This agreement grants The Stars Group first skin market access to operate and brand real-money online betting, poker, and casino in MI. However, it is subject to license availability, state law, and regulatory approvals. Not to mention, Odawa will receive a revenue share from the applicable online offerings by The Stars Group.