In the United States, not all states have legalised online gambling. The gaming analysts recently anticipated that Pennsylvania or California could become the fourth state to authorise online gambling. However, the same did not happen. In fact, the state of Michigan is now looking forward to push for legalisation of online gambling. The five senators of the state have finally agreed to consider and submit the The Lawful Internet Gaming Act.
Highlights of the Lawful Internet Gaming Act
Mike Kowall, the state senator is the person behind the introduction of this bill. Mike highlighted the need of the bill, SB 889, saying that Michigan should now legalize poker games and online casino. He further mentioned that the time is over when the state completely restricted the online gambling industry. The time has come when it should step forward and become a lucrative gaming industry in order to contribute to the revenues of the nation. Since the economy is in need of great boost, it is important that the state give its approval to online gambling to create new jobs and produce high gaming taxes.
Requirements of the New Bill
The new bill demands the state to issue only eight gaming licenses. It means that more than eight gaming operators cannot obtain the license. Furthermore, these operators will have to pay a licensing fee of $5 million at the time when their license is approved. This gaming license will have a life of five years after which it needs to be renewed by the state again. In addition to this, the new bill also imposes a tax of 10% on the entire gaming revenue earned by the gaming operator. It demands the online gambling operators to pay the taxes every month.
To add on, an amount of $100,000 is also required to be collected by these operators, which is non-refundable. Furthermore, the bill ensures that the gambler must be over 21 years of age to place wagers on the online gambling websites. Although, the bill hardly mentions anything about sports betting but it has legalized online casino games and online poker. It does not mention about any specific forms of gambling too. Moreover, no clause is published regarding daily fantasy sports industry in the bill. Nonetheless, the lawmakers of the state are working on a separate bill that will discuss the need of DFS industry.
The new bill has come as a new hope. It states that it is not important for a player to be physically present in Michigan in order to sign up at any online gambling site. This clause has been included in order to provide an opportunity to Michigan to expand and open up its online gambling market in the other states as well. Unlike the bills of New Jersey and Nevada, which restricts the players from other states to access the sites, Michigan has surely taken a positive move in this direction. Therefore, it is likely to see that the state of Michigan is soon going to flourish in the online gambling world.