Online Gaming and Sports Betting Bills Ratified by Michigan Governor

Gretchen Whitmer, Governor of Michigan, has paved the way of sports betting and online gambling market realization in 2020 by ratifying the respective bills that regulate these verticals.

The Lawful Internet Gaming Act was created by her g the House Bull 4311. As a result, license permits for online and mobile gambling will be issued nextg year by thre Michigan Gaming Control Board (MGCB).

A Turn of Events

Rick Snyder, predecessor of Whitmer, has put a stop to a similar proposal by Rep. Brandt Iden at approximatelly the identical time last year…

…and this year ed in the similar atmosphere of it seeming very liely that the new Governor will not legalize these gambling branches also.

However:

The taxation rate change that HB4311 has introduced alleviated her worries that lottery revenue will be impacted by iGaming (which will decrease the education funding). The minimum rate was raised to 20% GGR revenue for venues that generated $4 million or less and 28% for casinos that generate $12 or more per annum.

Sports Betting Also Green-Lit

The governor also ratified the HB916, which created the Lawful Sports Betting Act. Commercial and tribal casinos will be allowed to offer online sports betting which will be taxed at 8.4%. Fantasy Sports Consumer Protection Act was also signed into law and it is a foundation of legal framework for fantasy sports in Michigan.

The revenue collected from taxation of these verticals will be used to help the Michigan School Aid Fund and First Responder Presumed Coverage Fund.

The latter is ing fire fighters that are battling cancers through medical benefits and workers’ compensation.

$19 Million Projected

Michigan’s Department of Treasury has forecast a $19 million revenue that will come from legalization of online betting and gaming…

…and a $4.8m/$4m contribution to the said causes.

Comments Whitmer

“My top priority in g this legislation was protecting and investing in the School Aid Fund, because our students deserve leaders who put their education first.

Thanks in part to the hard work and leadership of Senator Hertel and Representative Warren, these bills will put more dollars in Michigan classrooms and increase funding for firefighters battling cancer. This is a real bipartisan win for our state.”

Commercial and tribal operators will be treated the same, which will allow for an influx of revenue that will Native American community.

American Gaming Association has hailed the adopted legislation. 21 US states have, as of now, made sports betting legal.

Source:

“Michigan Governor signs betting and gaming bills into law”, igbnorthamerica.com, December 20, 2019.