LSB Brief: Michigan, New York, Wyoming, Caesars 08/03/2021

• Michigan recorded over $1 million in sports betting tax revenue for the first time.
• New York published their final round of Q/As regarding their sports betting regulations.
• The Wyoming Gaming Commission is hoping to launch by the NFL season after approving rules.
• With Caesar’s acquisition of William Hill complete, the new Caesars Sportsbook app is available in eight states.

NEW YORK – Despite many states being out of legislative session, the amount of action surrounding the regulated sports betting scene is quite active.

On Monday, news regarding Michigan, Wyoming, and New York hit headlines with mobile sports betting apps also making the news from Caesars.

Michigan Hits New Sports Betting Record

After previously having a record-high of $785,423 in tax contributions from Michigan sportsbooks in March 2021, the state reported over $1 million in taxes collected in June alone.

Seeing new highs during June is always questioning, as limited events are there to bet. In fact, June saw $259,504,202 worth of bets placed in Michigan – almost $115 million less than March ($383,691,892) where the sports betting record previously stood.

As Michigan sportsbooks posted a 10.5% hold percentage, the bad month of gambling from Michiganders paid off for the state.

New York Publishes Final Round Of Q/As

The New York mobile betting scene is accelerating – almost too quickly for the regulators to keep up. Still, on Monday the New York Gaming Commission released their final question and answers regarding mobile betting regulations.

The Q/A didn’t add much value to sports bettors, more so the operators. However, the movement is still occurring after years of close calls.

Applications for New York sportsbooks are due on Aug 9 and will be waiting roughly a month for the NYGC to select applicants. With licenses still a few months away from being handed out, New York will not be looking toward an NFL launch, but could possibly find themselves active early in 2022.

Wyoming Approves Sports Betting Regulations

The Wyoming Gaming Commission moved closer to their NFL sports betting launch after approving a set of rules on Monday.

As one of the wildest states with legal sports betting, Wyoming will allow crypto deposits in an online-only sports betting industry. Additionally, there is no limit on the number of operators, meaning Wyoming sportsbooks could reach into the hundreds without any issue.

One of the largest benefits for those betting in the Midwest is the age restriction. As one of the few states that allow betting at 18, don’t be surprised to see Wyoming bring in plenty of new and young betting players.

Caesars Sportsbook App

After acquiring William Hill for $3.7 billion in April, Caesars re-brandished their sports betting app. Available in eight states, the legal sports betting app will also be live in Arizona, Maryland, and Louisiana once their states officially launch.

In a full integration, the platform will remain as William Hill while the odds will come from Caesars Sportsbook.

With former William Hill sports betting players able to collect Caesars Rewards points, the integration won’t leave anyone left behind.

News tags: Caesars | Michigan | New York | New York Gaming Commission | William Hill | Wyoming | Wyoming Gaming Commission