Michigan charities raised $4.9 million from poker in 2022
The Michigan Gaming Control Board announced that qualified Michigan charities have received approximately $4.9 million in net profit from state-licensed charity poker events. MGC extension in 2022.
At 1,394 authorized fundraisers last year, poker chip sales totaled approximately $67.9 million and were just down from 2019’s $72.4 million in chip sales. Additionally, the number of licensed events increased by 137% from 2021 to 2022.
“Charitable organizations are encouraged to consider hosting millionaire fundraising parties in support of their charitable causes,” said Henry Williams, executive director of the Michigan Gaming Control Board.
“Our agency offers resources for charities so leaders of organizations can learn more about how to qualify and apply for licenses. Our staff will also answer questions and provide information to guide charity leaders throughout the application and license process, visit live events and provide feedback to charities on their events.
Authorized by the state’s Bingo Act, a Millionaire Party is a charity gaming event where bets are placed on games of chance usually associated with a casino. However, poker is usually the more popular game.
Eligible organizations include educational, fraternal, religious, veterans, seniors, and service groups.
An organization can apply for up to four Millionaire Party licenses in a calendar year. THE MGC extension can authorize each license for up to four consecutive days, and the fee is $50 for each day of play.
Charities can hire an authorized supplier to supply equipment and dealers to help them carry it out. A charity can host an event at its own or rented venue.
Chip sales are limited to $20,000 per day. However, if the organization uses its own venue, equipment and resellers, it can calculate the daily chip limit by dividing $80,000 by the number of event days. The charity must also run the event and keep financial and gaming records, which must be submitted to the MGC extension by the 10th day of the month following the last day of the event.