Casinos with the best banking options in the Wolverine State
What is the point of winning millions if you can’t withdraw them, right? The user experience should be excellent not only in playing casino games but also in any other way. And that includes banking. There should be easy and popular ways to deposit money and, later, withdraw your earnings.
Luckily, the state of Michigan has a great gambling industry, and there are many participants already. It is one of the markets with the largest number and the best online casinos in the USA. Over 15 of them are at residents’ disposal and counting! Thanks to that, you can expect very professional gambling sites and casino apps with all the payment options you need. Most of Michigan online casinos cover the basics like Visa, Discover, Mastercard, bank transfer, and even PayPal. But there are a few that have 10 and even more deposit and withdrawal options. They are the top of the pack when it comes to user experience.
The current best one of all is BetMGM. This Michigan online operator offers 14 banking options! But that doesn’t mean the rest are not good enough. Check out the gaming sites with the best banking options here:
| Casino | Casino Rating | Deposit Options | Withdrawal Options | Min. Deposit | Max. Withdrawal | Legal States | Secure Link | Casino Review | Significant Terms |
|---|
| BetMGM | 4.9/5 | - Skrill
- VIP Preferred
- PayPal
- Visa
- Discover
- Game On
- PayNearMe
- Mastercard
- Apple Pay
- Play+
- Cash at Casino Cage
- American Express
- Bank Wire Transfer
| - Skrill
- Cash at Casino Cage
- PayPal
- VIP Preferred
- Play+
- Bank Wire Transfer
|
$10
|
$100,000
| | Visit Casino! | Read Casino Review
| Terms & Conditions apply
|
| DraftKings | 4.5/5 | - Visa
- Venmo
- VIP Preferred
- Cash at Casino Cage
- American Express
- PayPal
- Mastercard
- Play+
- Apple Pay
- Bank Wire Transfer
- Discover
| - Cash at Casino Cage
- Apple Pay
- Mastercard
- Venmo
- VIP Preferred
- Visa
- Play+
- Bank Wire Transfer
- eCheck
|
$5
|
$10,000
| | Visit Casino! | Read Casino Review
| Terms & Conditions apply
|
Tax on online casino winnings in Michigan
The Internal Revenue Service (IRS) requires you to report all gambling winnings on Form W-2G if the winnings (reduced by the wager) are $1,200 or more from bingo or a slot machine, $1,500 or more from a Keno game, more than $5,000 from a poker tournament, or $600 or more and at least 300 times the amount of the wager.
You will see two types of withholding on your winnings: regular gambling withholding, which is 25% if the prize value is greater than $5,000, and backup withholding which is 28% if you (the winner) do not furnish the correct taxpayer identification number. The state requires all casinos, race tracks, and organizations conducting charitable games to withhold Michigan income tax (4.25%) whenever federal withholding is required.
No matter if you are playing on one of the best Michigan online casinos or a smaller one, as long as it is licensed and regulated, those taxes apply to you.
Even if you are not a MI resident and you gamble at Michigan online casinos, B&M ones, or race tracks, you will also be subject to withholding. Form W-2G is used to report and pay the federal and MI tax, and Form 945 is used to report federal tax to the IRS.
Treasury and file an annual return. Contact the IRS (1-800-829-1040) or the Michigan Department of Treasury for any questions regarding tax withholding and reporting requirements.
