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On Monday, the Michigan Gaming Control Board announced that NYRA Bets has become the fourth authorized online horse racing betting operator in Michigan.
Michiganders now have the option to make advance deposit wagers on pari-mutuel horse races worldwide through the addition of The New York Racing Association subsidiary, joining TVG, Churchill Downs, and Xpress Bet.
In a statement announcing the provisional license, MGCB Executive Director Henry Williams expressed that horse racing enthusiasts in Michigan now have an additional opportunity to utilize mobile wagering in order to place bets on horse races from anywhere within the state.
NYRA Bets operates Belmont Park, home of Belmont Stakes
Aqueduct Racetrack, Belmont Park, and Saratoga Race Course are the three biggest thoroughbred horse racing tracks in New York State, all managed by NYRA Bets.
The Belmont Stakes, one of horse racing’s Triple Crown races, takes place at Belmont Park. In addition, Churchill Downs, a well-known betting brand in Michigan, organizes the Kentucky Derby.
The Preakness Stakes, which takes place at the Pimlico Race Course in Baltimore, is the third race in the coveted Triple Crown.
Michigan has long history with horse racing betting
Since 1933, Michigan has had an active presence of Pari-mutuel horse racing. However, numerous horse racing tracks across the state have gradually closed down over the years. Presently, Northville Downs in metro Detroit remains as the sole operating track.
In an effort to enhance the sport and related agricultural industries, Michigan introduced mobile horse racing betting as a new addition to its gambling options. This was made possible through the approval of a set of new gambling laws by Governor Gretchen Whitmer in December 2019. As part of these changes, Michigan’s Horse Racing Law of 1995 was modified to permit race meeting licensees to engage contracted third-party companies in order to facilitate betting on both live and simulcast horse races worldwide.
After creating an account with the third-party facilitator, the bettor gains the ability to utilize their mobile device or computer for placing wagers on pari-mutuel races, using the funds they have deposited.
Mobile wagering on horse races was approved by the MGCB in June 2020, coinciding with the approval of TVG. Churchill Downs received approval in September 2020, and Xpress Bet gained approval in March 2021. Michiganders placed online horse race wagers amounting to $35.8 million in 2020, resulting in a state tax revenue of $839,123.
In 2020, Detroit casinos collected a total of $130.8 million in sports wagers since its launch in March at the three downtown gambling halls. As a result of sports betting, the state received $690,865 in taxes, while the city of Detroit gained $844,391.
The NYRA Bets license remains valid in Michigan until December 31, 2024, unless the operator fails to uphold its contract or there are any alterations in regulations.
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