The Michigan Gaming Control Board (MGCB) has included fixed-odds wagering on horseracing within the state’s online sports betting catalog, set to be made available by operators currently licensed in Michigan.
“This change reflects where the horse racing industry itself is heading. Bettors have told us they want the same, straightforward, locked-in odds experience they’ve grown accustomed to with sports betting,” MGCB Executive Director Henry Williams said.
“Adding fixed-odds wagering to our catalog lets us meet that demand while continuing to support a fair and well-regulated horse racing market in Michigan.”
Fixed-odds betting on horseracing will fall under the same regulatory requirements as traditional sports wagering in Michigan, including standard consumer protections such as licensing requirements, responsible gaming tools and age/residency verification.
Fixed-odds bets offer payout odds which are locked in at the time the wager is placed, rather than pari-mutuel wagering operations where odds may shift up until the post time of each race.
The MGCB also recently unveiled that Polymarket will stop offering sports event contract trading across the state by November 25, in exchange for state regulators agreeing to not file enforcement action so long as the operator remains compliant.
Polymarket now joins Robinhood and Coinbase in choosing to pull its sports event contracts out of Michigan, while Attorney General Dana Nessel managed to secure a preliminary injunction order against Kalshi as well.
The prediction market operator will also close out any remaining open customer positions, with the agreement between Polymarket and the MGCB having been approved by the US District Court for the Western District of Michigan.
The MGCB issued cease-and-desist orders to 33 offshore gambling operators on October 8 and warned that even those registered with self-exclusion programs ‘are not protected on unlicensed sites’
