Michigan's Sports Betting Bill Makes Significant Progress as State House Committee Approves It

Michigan is one step closer to realizing its sports betting dream. Rep. Brendt Iden has submitted a brand-new bill proposal that was met with a warm reception by the State House Regulatory Reform Committee.

It will now be sent to the House Committee on Ways and Means and should it there, it will be directed to its final stop – the desk of Governor, Gretchen Whitmer, who might sign it into a law.

A Slow But Productive Process

On September 5th, Iden submitted the House Bill 4916 to the Committee…

…which, on Tuesday, September 17th, progressed it further. Should it overcome the final two obstacles, the bill will permit online sports wagering as well as on-premises betting. Each land-based casino in Michigan will be allowed to operate one mobile skin each.

HB 4916 also allows pre-game and in-play betting.

There would be a new body instated as the new regulator on this state’s market – The Division of Sports Betting.

Making Money and Protecting Players

Representative Iden was delighted and relieved with the news of his proposal ing…

…as he feels this will be vital to bringing in much needed revenues to Michigan in order to help underfunded programs.

Iden himself remarked upon confirmation of the news:

“Because this is already going on in the market place so we can protect those people who want to play and want to play legally, and we can, you know, make the state a little bit of money, which I think is also a positive.”

Details of HB 4916

According to language of the bill…

…all sports betting operators would need to pay a $200,000 license fee. Along with it, there would be the annual license renewal fee of $100,000. The tax on gross gaming revenue would be 8%.

It’s these funds that would go to programs such as School Aid Fund, Transportation Fund and Agriculture Equine Industry Development Fund. There would also be a new state Sports Betting Fund that would be in charge of treating gambling-related addiction issues They would also cover expenses regarding regulating and enforcing sports betting laws.

The Latest Attempt of Many

What comes next is that the Committee of Ways and Means will be looking into ways for state budget to cover this bill and all it stands for. Iden wished to stick to his original 8% tax idea, even though some stakeholders pushed for a higher tax rate. He felt that operators would struggle to do business if he made taxes higher.

It seems like he is much closer to finally regulating who refused to sign them.

Source:

“Sports betting bill ed in Michigan”, wilx.com, September 17, 2019.