Online Gambling Tax Revenue in Michigan Exceeds Predictions
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MI Tax Revenue Tops Predictions After 6-Months of Legal Online Gambling. The state has already taken in almost $90 million so far in 2021. Some industry analysts predict an annual total tax revenue of close to $200 million by the end of the year.
Most of the online gambling tax revenue will go to the Michigan School Aid Fund. It covers the per-pupil foundation allowance, special education, at-risk programs, school lunch and breakfast, vocational education and many other costly aspects of public education.
Five of Michigan's seven neighbors have legalized online gambling and sports betting. Online gambling revenue in Michigan has exceeded expectations. Wisconsin Governor Tony Evers signed an agreement that could soon allow betting on sports events at the Oneida Nation Reservation.
Online gambling revenue in Michigan has exceeded the predictions. Michigan is now set up to bet on the upcoming Tokyo Olympics starting on Friday and the 2021 NFL season beginning in early September.
