Online casinos and poker alone in the state of Michigan could earn as much as $250 million in first-year operations, bringing in a possible $60 million in tax revenue, and much more overall with sports betting. $400 million in total first-year sports betting revenue, producing $33.6 million in tax revenue for the state.
Mobile wagering should be the major revenue driver for Michigan’s sports betting market. The convenience and ease of access of online sports betting opens a whole new world of opportunities for both bettors and sportsbook operators.
Online casino and poker revenue will be taxed between 20 percent and 28 percent from the state, using a tier system dependent on earnings.
The first of Michigan’s online sports betting and casino platforms might launch by the end of 2020. This sets the stage for Michigan to become one of the top online gambling states in the U.S.
Gross revenue from sports betting, both online and retail, will be taxed at 8.4 percent from the state. Detroit’s three commercial casinos pay an additional 1.25 percent city tax.
Michigan hosts 26 land-based casinos, all of which can be expected to offer sports betting and online gaming to the state’s 10-million population at some point.
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