Michigan notches record month with nearly $500m in online betting handle
State’s $155.9m in combined sports betting and igaming revenue down slightly from December
Michigan enjoyed a record month for online sports betting in January, amassing $496.8m in total handle, according to figures released by the Michigan Gaming Control Board.
The nearly $500m in online handle represented a 2.5% increase from December’s previous record breaking total of $484.6m.
Combined sports betting and igaming revenue for the month came to $155.9m, a slight 0.4% decrease month on month from December. Adjusted gross revenue was $128.4m.
Revenue from online sports betting totaled $19.17m, which included deductions for the monetary value of promotions and free-play incentives provided to bettors.
Online casino receipts accounted for the lion’s share of Michigan’s adjusted gross revenue at $109.2m.
Operators paid $20.5m back to the state in taxes, with $19.1m coming from igaming and $1.4m generated by online sports betting.
Detroit’s three casinos – MGM Grand Detroit, MotorCity Casino Hotel, and Greektown Casino – created $5.9m in tax revenue for the city of Detroit, while Michigan’s tribal operators reported making $2.2m in payments to the state’s governing bodies.
Michigan has rapidly grown into one of the most booming online gaming markets in the US since launching online sports betting and igaming concurrently in January 2021, totaling $1.4bn in combined revenue in its first year of operation.