State tax revenue nears $90M just 6 months after online gambling goes live
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State has already collected $87.8 million in state tax revenue from January to June 2021. Online casinos and sports books have taken in $483.1 million so far. Online gambling and sport betting is taxed at 8.4%, while online casino play is from 20-28%. The growth of the sports betting industry is expected to be bigger than the online casinos.
There is potential for $200 million in annual state tax revenue. The majority of the money goes to Michigan school aid fund. A large chunk goes into a state compulsive gambling fund that supports programs at the Department of Health and Human Services. Tribal gaming operators will see some of their taxes paid back to them. The number of problem gambling hot lines in Michigan is 1 (800) 270-7117. It is available to help anyone struggling with gambling. There is some local benefit for West Michigan from this.
