Millionaire Parties Could Return In Michigan Soon After COVID-19 Hiatus

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Millionaire Parties have become increasingly popular in Michigan, reflecting a rising trend in gaming.

Organized by charitable organizations, these events offer players an opportunity to compete for prizes without engaging in high-stakes gambling.

Once the green light is given, anticipate the resumption of these events, which are currently halted due to COVID-19.

What is a Millionaire Party?

A Millionaire Party, as defined by Michigan Gaming, is a philanthropic gaming occasion where individuals engage in games of chance typically found in a casino setting, using simulated currency or chips.

The Millionaire Party is a type of charitable gaming event in Michigan that falls under the supervision of the Michigan Gaming Control Board (MGCB).

In a given year, charities that meet the requirements are eligible to receive a maximum of four Millionaire Party licenses. Each charity has the authority to approve each license for a duration of four consecutive days. The fee for each day of an event is $50.

The organizations have the potential to earn up to half of the game profits. The greater the number of chips sold at the event, the higher the profit margin for the organization.

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 in the state.

What organizations qualify for a Millionaire Party?

According to the MGCB, an organization can qualify for a Millionaire Party if it falls under any of the following categories and does not generate profits for its members. Here are some examples:

• Religious: places of worship
• Educational institutions encompass public, private, and charter schools.
• Organizations: Kiwanis Club and Lions Club
• Local civic service includes sports clubs, school groups, animal rescues, and auxiliary groups.
• Organizations catering to senior citizens are comprised of a minimum of 15 members aged 60 or above. These groups are formed to provide mutual support and promote the interests and well-being of elderly or retired individuals.
• Fraternal organizations include the Eagles, Shriners, Knights of Columbus, and Knights of Templar.
• VFW and AMVETS: Organizations for Veterans

In addition, the organization must meet the requirement of continuous existence for a minimum of five years. Alternatively, an organization may also be eligible if it is exempt from taxation under section 501(c) of the Internal Revenue code.

To qualify, organizations must submit a qualification form and necessary documents to the MGCB, followed by a mandatory on-site meeting.

Rules for your Millionaire Party

Millionaire Parties can take place either at the organization’s own premises or at an approved rented venue. The event’s start time must be no earlier than 8 a.m., and it must conclude by 2 a.m.

A maximum daily sales limit of $20,000 is imposed on chip purchases for each party. Participants buy chips and compete for prizes based on the total number of chips they accumulate during the event.

Accurate and thorough financial records, including revenue and expense documentation, must be upheld by organizations for each party. Additionally, complete game records for every party event must be prepared, maintained, and submitted.

According to the MGCB, in order to hold a party, there must always be a minimum of two legitimate members over the age of 18 present and actively involved in the event. A bona-fide member, as defined by the MGCB, refers to an individual who actively participates in the qualified organization with the intention of promoting its lawful purposes, as well as the spouse of such a member.

The organization is required to appoint one of these individuals as the chairperson, who will assume responsibility for overseeing and managing the licensed gaming event.

Individuals under the age of 18 are not permitted to participate in the event, including players, as well as all workers and other participants.

Dealers may either be legitimate members of the organization or hired dealers sourced from a licensed supplier.

The Millionaire Party application can be rejected by the MCGB if any proposed organization’s dealer has a history of being convicted or pleading guilty to the following offenses:

• A serious criminal offense
• An act of illegal gambling.
• Fraudulent criminal activities
• Forgery
• Larceny
• Submitting a fabricated report to an official government organization

To access the comprehensive set of rules and regulations, please refer to the filing provided by the MGCB.

COVID-19 puts Millionaire Parties on hold

Due to the COVID-19 pandemic, Millionaire Parties have experienced a pause since April.

Millionaire Parties are still in a state of anticipation as Michigan gradually moves forward with its reopening stages.

As per Governor Gretchen Whitmer’s phase four reopening plans, the MGM Grand Detroit, MotorCity Casino, and Greektown Casino-Hotel, which are licensed by the MGCB, were not eligible to reopen.

The resumption of Millionaire Parties is contingent upon the commencement of phase five, for which no specific timeline has been established yet, leaving MGCB casinos in a waiting state.

In recent weeks, the state of Michigan has experienced a rise in the number of Coronavirus cases. On Wednesday, there were a total of 610 new cases reported, marking the highest daily count since May 20.

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