CBS Detroit – You have not been able to watch TV or watch any online video for any betting app or website since signing Michigan online gambling. It seems like everyone is getting involved in what is sure to be an industry worth billions. Michigan is expected to generate a lot of tax revenue because, according to the Detroit Free Press, tribal casinos pay 8.4% tax and casinos and internet-based gambling sites pay a range of 20% to 28% based on adjusted gross revenues.
Now, just after just 10 days of legal gambling in Michigan that began Jan. 22, the Detroit Free Press reports that online gambling and sports betting grossed $ 42.7 million in gross revenues, according to state regulators. Gross internet gaming revenue was $ 29.4 million. Sports betting sites had gross betting revenues of $ 13.3 million out of a total of $ 115.2 million.
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The state of Michigan has received $ 4.4 million in taxes. The three Detroit casinos have paid $ 1.37 million in city wagering taxes and service fees. The tribal operators who offer online gambling have paid $ 428,615 to their various tribal administrative bodies.
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Richard Kalm is the executive director of Michigan’s Gaming Control Board. He says internet operators are off to a good start. “The taxes and payments from online games will fund K-12 students, the city of Detroit and the tribal communities of Michigan,” he said in a statement to the Detroit Free Press.
According to the Detroit News, Michigan’s online gambling law, signed by Governor Whitmer last year, only allows state-licensed casinos to offer sports betting and online games. Out-of-state providers can partner with Michigan casinos to provide their services. There are currently 12 authorized online and sports betting providers in Michigan.
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