The MGCB Requires Operators to Explain Slow Withdrawals

The Michigan Gaming Control Board has been seeking explanations from online casinos about the significant number of player complaints regarding delayed withdrawals. The issue came to light after the regulatory agency recently released a memorandum revealing that the most common issue faced by players in the Wolverine State is prolonged payouts at Michigan casinos online. 

An investigation conducted by the MGCB found that multiple online casinos did not process withdrawals to eligible players within the expected time frame and failed to communicate the reason for the payout delays. According to the report generated by the investigation's findings, operators raised unnecessary issues with players' accounts only after they requested a withdrawal and effectively prevented on-time payments. 

Some players registered an account, made a deposit, and played games with real money wagers without any issues, but when they requested a payout, they were flagged. However, practice such as the one mentioned did not mean players didn't receive their funds, only that the entire process was prolonged.

The MGCB Expects Feedback from Operators 

The MGCB rules are mandatory for operators in Michigan, and the payment regulations stipulate that online casinos must process withdrawal requests within ten days. Exceptions are possible, but most relate to a customer canceling a payout. Operators can decline a payout, and the most legitimate reasons are a breach of the terms and conditions or suspicions of fraudulent activity from the players. 

However, in both instances, the operator must start a formal investigation and inform the player. Typically, online casinos comply with the player's request and transfer the funds to the designated bank account within ten business days. Yet, the MGCB has noted that each operator can enforce its practices to ensure legislative compliance.

Simultaneously, the regulatory agency encourages licensed casino apps in Michigan to share their withdrawal practices. Michigan operators have a deadline of May 14 to submit their observations, suggestions, and comments regarding MGCB's investigation findings and recommendations for compliance with operational requirements.

In essence, iGaming providers can present their side of the story and give the MGCB a better perspective. Following the response from online casinos, the MGCB will review the feedback and might introduce additional control requirements.   

Michigan Hosts a Dynamic iGaming Market

The iGaming market in Michigan is one of the most vibrant in the nation, ranking second according to revenue figures. The Michigan Gaming Control licenses 15 operators. Most brands have a national footprint. 

The market leaders are brands FanDuel, BetMGM, DraftKings, BetRivers, and Caesars Palace Online Casino, offering thousands of games and various Michigan online casino bonus deals. Jackpot amounts with six digits are regularly won in the state, and in March, all 15 operators collected $215 million in bets, setting the stage for hitting the milestone of $2 billion in revenue for 2024.