Online gambling in Michigan started one year ago after the governor signed the bill in December 2019. It was good news all over Michigan as the news spread fast about the lovely performance of the industry in its first year.
Combined, the sector generated $1.4 billion. This is revenue generated by both the commercial and tribal casinos in Michigan. According to the sports betting operators, online sports gambling generated $292.2 million while online casino games generated $1.1 billion.
Online casinos in Michigan
Online casinos in Michigan began to operate in January 2021 after receiving the legal green light. The state’s online gambling law is one of the best in the entire country. In total, fourteen brands have been licensed to offer different online gambling offers such as slots, table games, bonuses, poker, and other games.
One of the latest gambling sites to be launched in the year was Play Gun Lake Casino, although one more new entrant is expected within the first half of 2022. Online casinos in Michigan are different from other states because their regulations brought on board the tribal casinos that are significant to the industry.
The breakdown of figures
One of the reasons that made online casinos in Michigan boom was the industry’s great customer service that made sure every customer had a chance to win. Another reason was the fast growth of mobile-friendly betting apps that made it possible for gamblers to bet anytime, anywhere on their mobile phones.
Michigan performed much better compared with other states that have been in the industry for many years. In total, the state collected $.7 billion. The Michigan state government was one of the biggest beneficiaries after it received $208.94 in taxes and other payments.
Fees and taxes collected from gambling games were $201.67 million, while fees and taxes collected from online sports betting were $7.27 million. The tribal casinos paid $22.39 to their governing bodies. The industry is optimistic that these figures could double in 2022 due to the conducive online betting environment.
The effects of a growing US economy
In 2021, the US economy grew by 5.6%, which according to experts, played a significant role in the growth of every economic sector in the country. The US economy in 2022 is expected to grow by a further 3.7% and grow more in 2023 by another 2/4%.
Economic growth directly affects citizens spending and this is one main reason why online casinos performed well in 2021. If the economy grows by a further 3.7% in 2022, the overall growth will nearly hit a double-digit.
To the Michigan online casino industry, 2022 is already showing bright signs of positive performance beyond the 2021 records. Tribal casinos in Michigan performed well at a time when they were expected to perform badly. The operators can only be thankful to the large Michigan population for its support in the online casino industry.
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