Twenty-Six Million Americans Placed Bets On The Super Bowl Betting $6.8 Billion: Super Bowl Sunday brought in massive amounts of profits for sport betting providers. According to a new report released by the American Gaming Association, 26 million Americans placed sports bets on the February 2 Super Bowl game. The wagers placed by betters were a whopping $6.8 billion dollars. Fourteen states have instituted legalized sports betting, and Michigan is joining in on the action in the next few weeks. In December 2019 Michigan Governor Gretchen Whitmer signed a sports betting bill, making it legal in Michigan.
Sources in Michigan are saying that sports betting will be up and running before March 17th, when March Madness officially begins. Michael Huff, a sports attorney who has been assisting gaming officials shed some light on the progress thus far. Huff said, “the expectation is that when they are ready to roll out sports betting, the state will be a hotbed for it. There is rapid expansion in the marketplace in terms of sports betting.”
Neighboring States Like Indiana Have Been Reaping The Reward Of Legal Sports Betting
Huff said he and state gaming officials have been monitoring sports betting in neighboring Indiana where sports betting came online last year. Huff said, ‘states like Indiana are seeing the dividends of legal sports betting.’ Huff went on to explain, “They have seen revenue grow dramatically from the first month to the second month.” In just one month Indiana saw a growth of four times the amount in month two as in month one.
Huff said the third month of sports betting in Indiana saw a growth of 4.5 times the amount as month one. Huff said sports betting would be up and running in Michigan in February. He believes ‘that a physical location will be located near the NCAA men’s basketball tournament.’ Huff said the word game down from gaming officials that there would be sports betting at all Michigan casinos. He believes that online gambling will be a bit slower.
Gaming Officials Are Saying That Online Gambling May Not Be Available Until 2021
Huff said there ‘has been a chorus of frustration from some quarters in the sports betting industry. Working out the online issues will not be done in time for March Madness. Data indicates that is where the huge profit margin will be with sports betting. Huff said sports betting providers have been complaining that in other states sports betting in casinos and online launched at the same time.
Huff said he sympathizes with those businesses that were hoping to have their sports betting platforms be online. Huff said gaming officials have focused on getting sports betting up and running before March Madness. He said, “that is one sporting event Michigan can not afford to be left out of.’ Huff says that online gambling could come online before 2021, but right now they don’t know the exact date. Which states are legal for sports betting?