The Michigan Gaming Control Panel announced that qualifying Michigan charitable organizations received approximately $4.9 million in net profits from charitable poker events licensed by MGCB in 2022.
In the 1,394 licensed fundraisers last year, poker chip sales totaled approximately $67.9 million and were just below the $72.4 million in chip sales in 2019. In addition, 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 Game Control Board.
“Our agency offers resources to charities so that 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 through the application and licensing process, visit live events and give charities feedback on their events “.
Authorized by state bingo law, the Millionaire’s Party is a charitable gaming event where bets are placed on games of chance typically associated with casino gambling. However, poker is usually the most popular game.
Eligible organizations include educational, fraternal, religious, veterans and seniors groups, and service groups.
An organization may apply for up to four Millionaire Party licenses in a calendar year. the MGCB He may license each license for up to four consecutive days, and the license fee is $50 for each day of gaming.
Charities may hire an approved supplier to provide equipment and merchants to help conduct this. A charity may host an event on its own site or at a rented location.
Chip sales are limited to $20,000 per day. However, if the organization uses its own site, equipment, and merchants, it can calculate its daily chip limit by dividing $80,000 by the number of days of the event. The charity must also administer the event and maintain financial and game records, which must be provided to the charity MGCB By the tenth day of the month following the last day of the event.