Legalizing sports betting in Michigan, Iowa, and Colorado would be a huge step for the industry. If these three states approve sports betting, what should you look for in a sportsbook? There are some pros and cons to each of these sports betting websites, and these are important considerations when making a choice. Here are some of them:
Legalization of sports betting in Michigan
A new law passed in Michigan has legalized sports betting in casinos and on mobile devices. Originally, the state allowed sports betting only at casinos and Tribal Casinos. However, lawmakers recently changed the law to allow online betting. Online sports betting in Michigan will go live in 2020. Mobile sports betting will be available by 2021. As of right now, only three casinos are authorized to offer sports betting. But this won’t be the last time mobile sports betting will become available in Michigan.
The Lawful Internet Gaming Act is passed by the Michigan Legislature. The bill sparks optimism for legal sports betting in Michigan. Gov. Rick Snyder vetoes the bill, but in December, Gov. Gretchen Whitmer signs it into law. In early 2019, Michigan casinos begin accepting sports bets. Despite coronavirus restrictions, business picks up in August. In January 2019, legal online sports betting opens in Michigan, with a handle of $150 million. In 2021, the state will close with two consecutive months of sports betting revenue at or above $500 million.
Legalization in Iowa
The state of Iowa became the eleventh to legalize domestic sports betting in May 2019. Now, sportsbooks are available at brick-and-mortar locations, online, and on mobile devices. Regardless of how they are accessed, state-regulated sportsbooks in Iowa can compete with popular offshore operators. The offshore operators have been operating in the state since before the PASPA ban was repealed. Iowa gambling laws have never prohibited offshore sports betting, but they have banned certain in-game prop bets in college games.
Iowa’s casinos all have sports betting licenses and are pursuing the market. Of the 19 state-licensed casinos, 18 pursued it quickly, while the Casino Queen Marquette waited a few months before introducing online sports betting. After this, the casino has partnered with fubo Sportsbook. Legalization of sports betting in Iowa will be a big step forward for the state’s economy and the gaming industry.
Legalization in Michigan
Sportsbooks in Michigan can be legalized by state law. The law does not prohibit the operation of online sportsbooks, but it does make them regulated. Currently, sportsbooks in Michigan offer a few payment options. Most accept online banking via Trustly, ACH through VIP Preferred, PayPal, Play+ prepaid cards, branded or generic gift cards, and cash at a casino cage. Deposits can be made using various methods, such as a credit card or a bank transfer. While most sportsbooks in Michigan accept deposits via a debit or credit card, you may need to wait 10 business days before receiving your winnings. You can also request a check via mail, which is one of the fastest and most convenient ways to receive funds from your account.
The state is in the process of legalizing sports betting in the state. Although there are many obstacles to overcome, there is still some hope. Several pacts with Native American tribes were made in the 1990s and now there are more than 20 casinos in Michigan that allow sports betting. Nevertheless, there is no consensus on whether or not sports betting will be legalized. But experts say it will happen in the next two years.
Legalization in Colorado
The state of Colorado is a prime candidate for sports betting because of its low barrier to entry, large number of active sportsbooks, and free-market approach to legal online sports betting. This state’s sports betting law has many benefits for customers, including plenty of available markets and sportsbooks, and a low tax rate. While a competitive market may lead operators to cut corners, Colorado’s laws have kept them honest.
There are several challenges that will need to be overcome in order for Colorado sports betting to succeed. One of the most significant challenges will be the COVID-19 pandemic, which will make it difficult to offer in-person wagering. However, the industry is gaining momentum and at least 15 new sportsbooks are expected to open by 2020. If successful, Colorado sports betting will be a popular choice for millions of citizens.