Michigan is one of the few, fully-fledged, legal gambling states in the US. The state’s laws allow for nearly unrestricted gaming via retail and digital platforms. Throughout 2021, residents accessed sportsbooks, slot machines, and digital poker, all from the comfort of their homes.
2021 Michigan Revenue Reports
In turn, the state has benefited greatly.
The advent of Michigan mobile sportsbooks produced more than $292 million in revenues in 2021. Players wagered a total of $3.7 billion throughout the year.
Because of betting’s unprecedented success, Michigan now ranks among other top gambling states like New Jersey and Nevada.
Still, these figures pale in comparison to online casino revenues. The Michigan Gaming Control Board reported that the state had generated a whopping $1.1 billion in digital gaming proceeds in 2021.
Ultimately, all of the activity made for a record-breaking year. In 2021, Michigan became the third-ever state to surpass $1 billion in digital gambling revenues.
“Few saw Michigan hitting $1 billion in revenue over the first year, especially considering that no state had ever reached that level before. To do it in year one has been impressive, creating a significant stream of tax revenue from the state along the way.”
Eric Ramsey, an analyst for PlayUSA.com
Michigan’s Model Leads By Example
Other states have long been wary of online casino gambling. The stigmas surrounding it run deep. Some lawmakers have even refrained from approving any gaming legislation at all for fear of enabling problematic behavior.
But Michigan’s gambling model proves exactly what these states are foregoing in protest of gaming. The supplementary tax revenues from online casinos are huge and are incredibly necessary as the nation enters an era of COVID reconstruction.
Gambling isn’t an issue of if it is happening but where. Those living in anti-gambling states still have unfettered access to offshore casinos. Because the U.S. cannot penalize offshore exchanges, these states simply allow the money to flow outward.
Why Legal Gambling is Necessary Now
Michigan chose to bring these dollars back into the state. The funds have all been delegated for K-12 classroom education. And with the changing needs of schools across the country, this money provides immense relief.
Soon, online gambling will be an opportunity too good for other states to pass up. There is no real line to draw between sports betting and casino gaming. Both qualify as gambling. The slower a state government is to act, the longer its constituents go without additional funding.
All in all, 2022 is set to be a fruitful year for Michigan. Will other states join in on the prosperity?
Source: Detroit News