Online betting a big boost for Detroit

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March-17-21, 10:44 AM
Lowell

Online betting a big boost for Detroit

A lot of people, myself included, have been concerned about the effect of online betting combined with pandemic-limited in-person gambling would have have on revenues the City of Detroit counts on as an important revenue source.

No problem, it turns out. Revenues for February even topped those of pre-pandemic Feb. 2020, according to this Free Press story.

"New figures released Tuesday show that the first full month of online gambling and online sports betting was very lucrative for the city of Detroit, which took in nearly as much in total casino taxes in February as it did for the same month a year ago, just before COVID-19 decimated casinos' in-person business- and the city's budget.

"The three Detroit casinos paid $14.6 million to the city last month in wagering taxes and fees, or 1% more than in February 2020..."

Still I wonder what this means in terms of jobs of casino workers, which must be diminished, and the income taxes they pay.
March-17-21, 11:25 AM
K-slice

Is online betting required to be channeled through a Michigan Casino? In other words, do the proceeds MGM, Greektown, and others gain from online betting get taxed the same as those they get from an on-site slot machine?
March-17-21, 12:21 PM
ndavies

Yes, online gambling in MI is tied to in-state casinos. The big online sites had to partner with an in state casino to go live in state.
March-18-21, 07:16 AM
renf

Thank you for the information about on-line sites needing to partner with a Michigan casino. I thought that they were independent of the local casinos. If on-line gambling really becomes very popular, we may see fewer people gambling at the existing casinos but they have protected their financial interests if they - and the local place - get a slice of the on-line action. Interesting
March-18-21, 08:40 AM
JonWylie

I'll be interested to see if we ever get those "off-site" betting locations that are popular in the UK. Seems like every street corner has a little window for "Bet360" or "BetVictor"
March-18-21, 09:00 AM
wilderness

Hey Lowell,
'Online' takes away from local jobs, and many things related to local spending [[at least the portion of profits the non-local-affiliation gains).

It's been going on at the horse tracks nationally for decades.
March-18-21, 09:53 AM
Zacha341

I'm amazed that people still find a 'corner' of discretionary income to toss-off on gambling. I might do $10 in scratch off Michigan lottery cards a few times a year, but online gaming? Forget it.

I'm thinking the house always wins there in full digital mode - too!
March-18-21, 10:52 AM
401don

Quote:

Originally Posted by JonWylie

I'll be interested to see if we ever get those "off-site" betting locations that are popular in the UK. Seems like every street corner has a little window for "Bet360" or "BetVictor"

My understanding is you won't need them because you'll be able to do it all from your phone. You can sit at the game and make a bet on the next pitch, down, goal, timeout, anything.

Remember a short time ago, when cities didn't want evil casinos & gambling in their backyard? They got in bed with them and got hooked pretty quickly but ultimately probably didn't have much choice. Every other place was doing it and technology meant all that money was going offshore if they didn't jump on board.
March-18-21, 06:48 PM
Satiricalivory

Good to know the city still get's it's cut from online betting.
March-18-21, 07:35 PM
JonWylie

Quote:

Originally Posted by 401don

My understanding is you won't need them because you'll be able to do it all from your phone. You can sit at the game and make a bet on the next pitch, down, goal, timeout, anything.

Remember a short time ago, when cities didn't want evil casinos & gambling in their backyard? They got in bed with them and got hooked pretty quickly but ultimately probably didn't have much choice. Every other place was doing it and technology meant all that money was going offshore if they didn't jump on board.

I wouldn't be surprised though, there are a decent amount of people who would trust a cash bookmaker more than making a bet online, people who are a little bit older, or if they get paid in cash, maybe they don't have a bank account set up for online deposit.
March-19-21, 01:22 AM
softailrider

Quote:

Originally Posted by JonWylie

I wouldn't be surprised though, there are a decent amount of people who would trust a cash bookmaker more than making a bet online, people who are a little bit older, or if they get paid in cash, maybe they don't have a bank account set up for online deposit.

Got to have a totally negative effect on those places in town that were [[are) taking bets.