The Michigan House of Representatives reportedly passed a series of measures that could eventually lead to the state becoming the latest to legalize a full range of sports betting, fantasy sports and online gambling activities.
The proposed legislation dealing with sports betting, which is known as House Bill 4916, was passed by the 110-member body via a vote of 63 to 45 and is to now set to join its compatriots in facing similar consideration before the Michigan State Senate. Should it subsequently be ratified and signed into law by Governor Gretchen Whitmer, the measure would purportedly institute an 8.75% tax on all net sports wagering revenues while additionally levying a 3.25% duty on all such bets placed inside any of Detroit’s three casinos.
the Midwestern state could expect to reap annual tax revenues of around $30 million from sports wagering based on estimated first-year aggregated revenues of about $225 million, and they are the second lowest in the United States behind only Nevada’s 6.75% and well below the 51% currently accessed by officials in Rhode Island
