LANSING, me. (WILX) – Money has been tight for the state for years. The pandemic only made matters worse. But even though tax revenues have fallen, we still need money for roads, schools and other necessities.
The state says allowing online betting from Friday noon will help.
“People will be able to play [on the phones] and the tax revenue and payments generated by the tribes will be returned to the state, ”said Richard Kalm, director of the Michigan Gaming Control Board.
Kalm says they always knew people were betting online. So why not regulate and generate more tax revenue?
“You will see that most of the revenue for the state and tribal governments comes from online gaming.”
Michigan joins New Jersey, Pennsylvania and West Virginia as one of only four states to offer both sports betting and online gaming.
More money for casinos means more money for companies that have been hard hit by the pandemic.
“The tribes are sending ten percent to the Michigan Strategic Fund to support businesses,” Kalm said. “It’s a win-win situation.”
According to Kalm, online betting could generate tax revenues of up to $ 220 million this year alone.
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