Millionaire Parties Could Return In Michigan Soon After COVID-19 Hiatus
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Millionaire Parties are becoming increasingly popular for gaming enthusiasts across the state of Michigan.
Organized by charitable organizations, these events offer players an opportunity to compete for prizes without engaging in high-risk gambling.
Once given the green light, these events can be expected to resume even though COVID-19 has temporarily halted them.
What is a Millionaire Party?
The definition provided by Michigan Gaming states that a Millionaire Party is an event that involves charitable gaming. During this event, participants partake in games typically associated with a gambling casino, placing wagers using imitation money or chips.
The Michigan Gaming Control Board (MGCB) oversees the Millionaire Party, a charitable gaming event in Michigan.
Up to four Millionaire Party licenses can be granted to eligible charities within a single year. Each charity has the ability to approve each license for a maximum of four consecutive days. The cost for the license is $50 per day of the event.
The organization has the potential to earn up to 50% of the game profits. The greater the number of chips sold during the event, the higher the organization’s profit will be.
In 2017, the MCGB granted more than 2,300 licenses to charitable organizations for hosting Millionaire Parties.
Texas Hold ‘Em poker is the game most frequently played throughout the state.
What organizations qualify for a Millionaire Party?
According to the MGCB, an organization can qualify for a Millionaire Party if it falls into the category of non-profit organizations that do not provide financial benefits to their members. Some examples of such organizations are:
- Religious: churches
- Educational institutions encompass various types of schools, such as public, private, and charter.
- Organizations: Kiwanis Club and Lions Club
- Local civic service includes sports clubs, school groups, animal rescues, and auxiliary groups.
- Senior citizens: organizations comprised of a minimum of 15 individuals aged 60 and above, established to provide collective support and promote the interests of elderly or retired individuals.
- The fraternal organizations include the Eagles, Shriners, Knights of Columbus, and Knights Templar.
- Veterans: VFW, AMVETS
To meet the requirements, the organization must have a continuous existence for five years. Additionally, it can qualify if it is exempt from taxation under section 501(c) of the Internal Revenue code.
To be eligible, organizations are required to fill out a qualification form and submit the necessary documents to the MGCB. Additionally, a mandatory in-person meeting will be scheduled.
Rules for your Millionaire Party
Millionaire Parties can take place either at an organization’s designated premises or an authorized rented venue. These events must adhere to the time restrictions of starting no earlier than 8 a.m. and concluding by 2 a.m.
A maximum daily chip sales limit of $20,000 is imposed for each party. Participants can buy chips and compete for prizes based on the number of chips they acquire during the event.
Accurate and comprehensive financial records of the organization’s activities, including revenue and expenses, must be maintained. Additionally, game records for each party event held should be completed, maintained, and filed.
According to the MGCB, in order to host a party, there must always be a minimum of two individuals who are bona-fide members over the age of 18 present and actively involved in the event. A bona-fide member is defined as a person who is actively engaged in the qualified organization to support its legal objectives, including their spouse.
The organization is required to appoint one of those individuals as the chairperson, who will assume the responsibility for overseeing and ensuring proper conduct during the licensed gaming event.
Individuals who are 18 years old or above, including workers, participants, and players, are required for the event.
Dealers may consist of legitimate members of the organization or hired dealers employed by a licensed supplier.
If a proposed organization’s dealer has ever been convicted of or pleaded guilty to the following, the MCGB reserves the right to reject a Millionaire Party application.
- A felony
- A gambling offense
- Criminal fraud
- Forgery
- Larceny
- Making a fraudulent report to a government agency.
To access a comprehensive compilation of rules and regulations, kindly refer to the MGCB’s filing.
COVID-19 puts Millionaire Parties on hold
Due to the COVID-19 pandemic, Millionaire Parties have been suspended since April.
Millionaire Parties in Michigan are still awaiting their turn as the state gradually progresses through various phases of reopening.
During phase four of Gov. Gretchen Whitmer’s reopening plans, the MGCB-licensed casinos such as MGM Grand Detroit, MotorCity Casino, and Greektown Casino-Hotel were not permitted to resume operations.
Millionaire Parties will remain on hold until phase five is initiated, however, there is currently no set timeframe for its commencement at MGCB casinos.
In recent weeks, the state of Michigan has observed a surge in the number of Coronavirus cases. On Wednesday, a total of 610 new cases were reported, marking the highest daily count since May 20.
