DraftKings Develops Relationship with Michigan Sports BettingBettingMichigan
DraftKings has revealed a new partnership with Bay Mills Resort and Casino joining Michigan's world of land-based and online sports betting. This makes DraftKings the eight operator to join the Michigan online sports betting market.
A Big DraftKings Deal for Michigan
Bay Mills tribal casino is one of two land-based operations owned by the Bay Mills Indian Community. As well as launching its digital platform, DraftKings will open a new retail sportsbook at the larger Bay Mills.
DraftKings value has soared since its recent initial listing to the NASDAQ exchange, with a market capitalization now exceeding $6 billion dollars.
Is this a Great Opportunity for Both Sides?
Agreeing to work with major online brands as well as small, independent casinos has become normal since the sports betting industry has shown continual growth with recent legalization.
These arrangements can become a win-win for all parties involved. Bay Mills Indian Community should indeed be beneficial for both parties, as the DraftKings gets to join into one of the larger gambling markets in the United States.
Tribal Chairman Bryan stated: “Expanding on what entertainment options we can offer at Michigan’s longest operating facility is always our goal. Our new on-site DraftKings Sportsbook will be one more great reason for Michiganders to vacation with us in the Upper Penninsula."
MI Online Sports Betting Players
The DraftKings Sportsbook deal makes Bay Mills the fifth Michigan tribe to announce its sports betting partner. Current partnerships include:
- Fox Bet with Odawa (Little Traverse Bay Band of Odawa Indians)
- PointsBet with Northern Waters (Lac Vieux Desert Band of Lake Superior Chippewa Indians)
- Scientific Games with FireKeepers (Nottawaseppi Huron Band of the Potawatomi)
- William Hill with Turtle Creek (Grand Traverse Band of Ottawa and Chippewa Indians)
Partnerships with all three Detroit casinos are additionally finalized.
- Barstool Sportsbook with Northern Waters (Lac Vieux Desert Band of Lake Superior Chippewa Indians)
- BetMGM Sports with MGM Grand
- FanDuel Sportsbook with Motor City
Will Michigan Join the Online Gambling Community?
Shutdowns of land-based casinos have created a difficult path for land-based casinos. Detroit has estimated they are losing $600,000 daily in tax revenue daily from their three casinos. These closures have resulted in a desire to accelerate the launch of online gaming.
Governor Gretchen Whitmer approved legalization for sports betting, online casinos, and online poker. The proposition was expected to not have a possible launch until 2021. Now, the current pandemic of COVID-19 has shown a growth of accelerating. In other states such as Pennsylvania and New Jersey, online revenue has partially made up for the impact on land-based closures.
The Michigan Gaming Control Board (MSCB) began taking applications of licensing iGaming suppliers in May. The agency stated the sites could go live before the end of 2020.
The DraftKings press release did not speak of any other forms of online gambling beyond sports. All additional information will be released in due time.