Michigan lawmakers are putting the finishing touches, and votes, on two bills that would legalize and regulate sports betting and online gambling in the state. It’s a move that’s receiving bipartisan support in the Michigan state house and should be very well received by the people of Michigan (who are already engaging in both activities).
Under the terms of the new bills, Michigan residents 21 and over will have access to regulated sports betting and operators will be able to apply for licenses that cost $100,000 at the time of application. Subsequent renewals of online and sports licenses will run $50,000. When the issue of regulated sports betting first emerged, Governor GRetchen Whitmer suggested application fees of as high as $2 million but nothing ever came of that suggestion.
Michigan online gambling operators will be ponying up 8.4 percent of their gross revenue for taxes. Lawmakers had debated had debated raising it to 8.75 but debated it down. Taxes on online casinos could range between 20 an 28 percent, depending on how much the casino is bringing in.
A spokesperson for Governor Whitmer told Legal Sports Report, “The governor is pleased with the progress made on gaming over the course of this year, particularly once Sen. Hertel and Rep. Warren were able to engage and resolve key issues to get this package across the finish line…This is a good, bipartisan solution made possible by working together on a complex issue, and the governor looks forward to closely reviewing this package once it hits her desk.”
If all goes as expected Governor Whitmer will sign the bills into law by the end of the week.