It’s expected that sports betting licenses will cost $100,000, with an annual renewal set at $50,000. Tax rates are pending.<\/p>\n
Internet sportsbook platforms must partner with either a Detroit casino or tribal gaming venue. BetMGM, FanDuel, Barstool Sports, and DraftKings have already done so.<\/p>\n
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BetMGM is partnered with MGM Grand Detroit, FanDuel with MotorCity, and Barstool Sports with Greektown. DraftKings is partnered with the Bay Mills Resort and Casino, a tribal casino located on the Upper Peninsula.<\/p>\n<\/div>\n
Internet sportsbook licenses cannot be issued until the regulatory rules are approved by the legislature.<\/p>\n
Mobile is key to a successful sports betting market. For instance, in New Jersey, of the more than $3.28 billion that has been wagered in 2020, nearly 91 percent — or $2.98 billion — has been bet online.<\/p>\n","protected":false},"excerpt":{"rendered":"
Detroit casinos kept just shy of $93.8 million of the money wagered last month on their slot machines and table games, a 19 percent decline compared with October 2019. MGM Grand Detroit commanded the largest market share, the MGM Resorts casino reporting gross gaming revenue (GGR) of $37.8 million. MotorCity was next at $36.3 million, […]<\/p>\n","protected":false},"author":25,"featured_media":154995,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,1074],"tags":[],"acf":[],"yoast_head":"\n
Detroit Casinos Win $93.8M in October, Sports Betting Sets Record Handle<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n