Posted on: February 22, 2024, 03:22h.
Last updated on: February 22, 2024, 03:22h.
Gross iGaming revenue in Michigan hit a new monthly high in January. The Michigan Gaming Control Board reports revenue of $181.9 million during the month.
Total gross online gambling revenue, which includes iGaming and sports betting, amounted to $229.6 million in January. That’s more than 22% ahead of the $187.3 million in the Great Lakes State in the same month last year.
The January numbers build on momentum from a record 2023 when total iGaming and sports betting gross receipts in Michigan hit $2.3 billion.
Sports betting could remain in the spotlight in Michigan this year. While Super Bowl LVIII numbers are being crunched in the state, nationwide the NFL classic resulted in record sports betting activity, according to GeoComply. In addition to the Detroit Lions NFC Championship game in January, the Michigan Wolverines’ first national championship since 1997 was a source of big bets.
Those numbers added to January’s totals even though the online sports betting handle of $577.4 million down slightly from December’s handle of $583 million
The January figures include licensed commercial and tribal operators in Michigan.
The State’s Take
Michigan earned $31.3 million in taxes and fees from January’s revenue. The state brought in $30 million from iGaming taxes and fees, and $1.3 million in revenue from internet sports betting.
The city of Detroit, with its three operating casinos, earned $8.5 million from taxes and municipal services in January. The iGaming sector brought in $7.9 million and online sports generated $614,400.
The Michigan Gaming Control Board says tribal operators paid $3.6 million in taxes and fees to the state.
Land-Based Operations See Decrease
In Detroit, customers seem to prefer online gaming and sports betting rather than land-based operators. That preference is revealed in a revenue decrease of 8.8% for land-based operators in January compared to the same month in 2023.
Brick-and-mortar locations across the country are seeing a slowdown in in-person retail play. As reported by Casino.org., in-person casino play in January was down from 2023 in at least five other states.
Over the last year in Michigan, the state focused on expanding the online gaming and sports betting industry. Michigan has allowed 15 operators, both commercial and tribal, to launch online sports betting and gaming options. All 15 of those operations launched iGaming operations.
