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п»їMichigan Online Sports Betting Review: How 6 Apps Fared, Plus Early User Data Figures.
Michigan launched online sports betting on January 22, with a handful of companies offering their services in the 10th most populous state in America.
I downloaded six of the sports betting apps to test them out during the first weekend. Here is a look at how they fared in terms of downloads, potential market share and promotional offers.
DraftKings: The app from Draftkings Inc (NASDAQ: DKNG) is incredibly easy to use, which shouldn’t come as a surprise given the company's strong market share in the states it operates in. What was surprising was how hard it was at first to login and use the app during the first weekend live in Michigan. The app crashed numerous times and unfortunately became the app used the least by me due to tech problems.
DraftKings offered signup bonuses, matching deposits and $100 free to play blackjack in the casino portion of the app. The company had some bets that were pretty close to being guaranteed winners, such as on the chances of a first quarter touchdown or more than 0.5 touchdowns scored in the NFL Conference Championship.
FanDuel: Flutter Entertainment ADR 's (OTC: PDYPY) FanDuel app had several login problems for me, but operated very well during the first few days of legal betting in the state. The app did feature a warning the first couple days that due to increased volume, settlement on some winning bets could take up to 30 minutes.
Barstool Sportsbook: The Barstool Sportsbook was launched by Penn National Gaming, Inc (NASDAQ: PENN) in Michigan. Barstool offered $10 in free bets for new users in the state and another $5 for those who filled out their favorite sports on their profile. One of the things that really sets the app apart from the competition is Barstool's unique personalities for betting ideas, such as odds boosts and suggested bets.
BetRivers: The lesser known BetRivers brand comes from Rush Street Interactive Inc (NYSE: RSI), which went public via a SPAC. The company offered free promotional money to people who signed up on opening weekend. The app was easy to use and offered a wide range of prop bets and odds-boosted events. Many of the boosted bets came with limits of $100, higher than competitors.
PointsBet: Another lesser known company, PointsBet Holdings Ltd. (OTC: PBTHF), puts out one of the apps I was looking forward to testing out. One of the promotions PointsBet offered was betting on the Detroit Pistons spread. For every point the Pistons scored, users got $1 in free bets.
BetMGM: A joint venture between MGM Resorts International (NYSE: MGM) and GVC International, the BetMGM app is very easy to use, and I was surprised with the amount of odds boosts from the company.
Other Options: Other companies that launched in Michigan but whose apps I did not test or download were Golden Nugget Online Gaming (NASDAQ: GNOG), William Hill, Wynn Resorts, Limited (NASDAQ: WYNN) and TwinSpires, owned by Churchill Downs, Inc. (NASDAQ: CHDN).
Michigan also recently approved sports betting and online poker from Fox Bet, which is partially owned by Fox Corp (NASDAQ: FOX) and Flutter Entertainment.
Early App Data: Michigan is expected to release official sports betting figures in late February. Bank of America analyst Shaun C. Kelley is out with some early data about the companies that launched online sports betting and iGaming in Michigan.
App download data shows DraftKings and FanDuel as the early leaders in the state with 40% and 27% market share, respectively. Barstool Sportsbook and BetMGM fought it out for third place with 14% and 13% of app downloads, respectively.
The app downloads showed lower numbers from William Hill, PointsBet and TwinSpires. BetRivers offered an online download and not a mobile app, so downloads were not reported.
Kelley sees Michigan market share shaking out to 30% share for each of FanDuel and DraftKings, and 10% to 15% each for Barstool Sportsbook and BetMGM. Others could have single digit market share, according to Kelley.
Benzinga’s Take: As you can see, the betting platforms tested offered some large incentives to get users to sign-up as well as place bets on Michigan-related teams.
The question will now turn to which app is the best and easiest to use and which one users stick around for.
The early results show sets of tiers for the sports betting players in Michigan. DraftKings and FanDuel look like early winners, followed by Barstool and BetMGM. The race could be for third place, then shaking out if any other app can gain 5% share in the state.
Best 5 Sports Betting Sites Online 2020 Top Sportsbooks.
Sports betting on the Internet can be a thrilling experience for anyone. If you want your sports betting experience to go off without a hitch, however, you need to find the right website. Thankfully, the Internet is home to quite a few appropriate sites that can provide users with top-notch experiences. Be sure to check them out as soon as you get the chance.
#1 Bovada.
If you’re keen on sports betting online, then there aren’t many website options that can even compete with Bovada. People who have penchants for gambling on the Internet often can’t turn away from this option. It presents users with an abundance of diverse choices as well. Some examples of these are baseball, basketball, and golf. It doesn’t matter what your specific sport preferences are. Bovada can help you attain an online betting experience that’s one for the record books, period. When you’re on the lookout for the best sports betting sites, then Bovada without a doubt should be on your radar. Fans of sports betting online frequently gravitate to Bovada and to all of its choices. Registration with Bovada can be a delight as well. That’s due to the fact that newbies can receive thrilling perks as incentives. If you like the concept of betting on hockey, basketball and the like, then you won’t be able to resist paying a visit to Bovada. Tennis bets have never been quite so pleasant online.
Best 5 Online Sports Betting Sites 2021 – Top Rated Sportsbooks.
When looking to venture out into sports gambling, you are likely to find hundreds of online sports betting sites out there. When looking for the best sports betting sites, therefore, the most important issues to consider are the perks that come with the websites. This will ensure you enjoy the greatest sports betting online experience. These perks include signing bonuses and easy usability among others. In this article, we are going to review three of the best online betting sites, which are Bovada, BetOnline, and MyBookie.
#1 Bovada.
Bovada has continually offered promotions and offers to its customers. For instance, first-time deposits for sports get bonuses of 50 percent for deposits up to $250, 100 percent for deposits up to $1000 for casino bets, and 100 percent for deposits up to $1000 as poker bonus.
Making a deposit or a withdrawal is easy and only attracts a small fee. For first-time deposits, the processing fee of 4.9 percent is waivered. Payouts are done using rapid transfer, otherwise known as money gram.
Bovada allows sports betting online on their user-friendly mobile interface or in their state of the art poker and casino gaming rooms. The minimum wager online is $1 and $50 for mobile bets. The only limitation to using Bovada is that the odds are posted late and that they have very low wager limits.
#2 BetOnline.
Licensed and regulated in Panama, BetOnline offers sports, live, poker, casino, and live dealer types of betting. It offers a wide range of payment options and several accepted currencies, thus making it one of the most convenient sites for customers across the world.
You get a welcome bonus of 50 percent on deposits up to $2500. However, bonus levels are tiered for different types of wagering. The online game library is categorized into 3D slots, table games, slots, and video poker. Most of the bets are placed online since their mobile platform only allows sports betting.
Maximum and minimum deposits and withdrawals are different for different payment options that are offered on BetOnline. Its major shortcoming is that it has high rollover requirements that customers might find difficult to understand.
#3 MyBookie.
MyBookie is one of the newest top online sports betting sites in the market. It was established in 2014 in Costa Rica and is fast growing to compete with other older bet staking sites. The minimum online wager on MyBookie is $10 and the maximum is $1000. For mobile wagers, however, there are no limits.
Wagering options for MyBookie include straights, totals, open wagers, action points, teasers, reverses, if bets, futures, and money lines among others. You can bet on games such as NFL Football, college basketball, NBA basketball, NHL hockey, soccer, golf, and horse racing among others.
With one of the highest bet bonuses in the industry, MyBookie gives you a welcome bonus of up to 50 percent for up to $1000 if you are a first time depositor. For reloads, they offer a 20 percent cash bonus. This makes it one of the best sports betting sites.
Its mobile platform has a user-friendly interface that makes it very easy to use. Their customer service is also highly efficient and offers top-notch customer service. This puts them among the best online betting sites today. MyBookie, however, only caters to recreational gamblers as opposed to other top sites that allow professional gambling. The site has also been said to lean more on the US sports market as compared to international sports.
Gamblers Are Betting Billions on Super Bowl LV. Here’s What to Know About Legal Sports Betting.
We want to help you make more informed decisions. Some links on this page — clearly marked — may take you to a partner website and may result in us earning a referral commission. For more information, see How We Make Money.
The Super Bowl isn’t just for watching the big game (and of course, all the commercials). For some enthusiasts, it can also make money, thanks to a phenomenon that used to be confined only to Nevada but is now happening across the U.S.: legal sports betting.
In this world — which these days happens mostly online — no event is bigger than the Super Bowl. This year, as many as 23 million Americans may bet on the Kansas City Chiefs or Tampa Bay Buccaneers, and on many other aspects of the game, according to a forecast from the American Gaming Association. Their cumulative bets may surpass a staggering $4 billion.
Being able to bet legally on sports is a relatively new development in most of the U.S., where sports betting was legal only in Nevada until 2018.
That was when the U.S. Supreme Court struck down as unconstitutional a federal statute — the Professional and Amateur Sports Protection Act, or PASPA, of 1992 — which limited regulated sports betting to Nevada. It’s now legal in 20 states, and many others are pushing to legalize it.
The growth of legal sports betting has been “extraordinary” since then, an ESPN story said.
“In 2019, over $13 billion was legally wagered,” says Casey Clark, Senior Vice President of Strategic Communications at the American Gaming Association. “Once all the numbers are counted for 2020, that figure will be over $21 billion.”
The sports betting capital of the United States isn’t Nevada anymore: It’s New Jersey, where people placed $6 billion worth of bets last year compared to $4.3 billion in Nevada, according to sports betting expert Darren Rovell.
With people confined at home because of the pandemic, 80% of gaming nationwide happens on mobile devices, Clark says.
“Nearly every American will have a casino in their back pocket at all times,” says Marc Edelman, an expert in sports law who teaches at Baruch College’s Zicklin School of Business, in New York. It’s reasonable to expect a majority of states to legalize online sports gambling within the next five years, Edelman says.
Pro Tip.
If you want to bet on the big game, experts recommend only betting as much as you’re looking to lose, and treating it as entertainment only.
With the growing ease of betting legally on sports, you might be asking yourself: Should I join in?
There are people who have picked their bets correctly and made millions, Edelman says, but they’re few and far between. “For most people, betting is meant to be an activity of entertainment instead of investment,” he says.
In fact, if you think you’ve got what it takes because you are a big sports fan, you might want to think twice: sports betting is a game for numbers geeks. Those who have traditionally been the most successful at it, Edelman says, are people with strong mathematical skills who can consider complex analyses.
For those enthusiasts, there are two main players in the sports betting industry, websites FanDuel and DraftKings. They dominate the market in the states that have what’s known as “full online sports betting with multiple options” — Colorado, Iowa, Illinois, Indiana, Michigan, New Jersey, Pennsylvania, Tennessee, Virginia and West Virginia, according to sports betting news and analysis site Action Network.
In most states today, sports betting is still illegal. The others fall into three groups. In one, such as New York, sports betting is legalized in a small number of brick-and-mortar casinos. In another group, such as Tennessee, online sports gambling is allowed, though sports betting in casinos is not. In the fourth group, such as New Jersey and Pennsylvania, sports betting in both casinos and online is legalized and regulated.
Anywhere you may be, though, sports betting is still betting, with all its risks. You should not bet more than you can afford to lose.
Clark notes that his organization put together a PSA earlier this year, Have a Game Plan, for bettors to educate themselves on how to bet responsibly. They can also use an interactive map to get more information on what type of sports betting is legal in their state.
For people who want to bet on the Super Bowl, Edelman suggests betting a small amount of money, and doing it for entertainment only: “Don’t put yourself in the kind of position [where] losing will have any adverse effects on your day-to-day,” he says.
You should stick to a licensed sportsbook like PointsBet, as well as FanDuel or DraftKings, Edelman advises. Doing so will ensure your potential winnings will be paid to you and minimizes the risk of identity fraud.
If you prefer to bet in person, “make sure you’re doing it in a fun and social way with people you know and trust,” he says. (As well as respecting social distancing and any COVID-19 guidance from local authorities, of course.)
Super Bowl or not, sports betting can be a fun way to make some extra cash if you are able to do so safely, but we definitely don’t advise partaking as a short- or long-term financial strategy. If you’re looking to grow the money in your bank account in a low-risk way, you’ll be much better off putting it in a high-yield savings account and enjoying the Super Bowl like most Americans do: focusing on the commercials, not the bets you may have made.
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