Michigan Online Gaming Sets Monthly Revenue Record in October

Michigan State Seal Background With Online Casino Gambling

  • Total gambling receipts of $190.2 million were generated in Michigan during October 2022 which was 7.7% better than the previous month.
  • Of that amount, $141 million came from online gaming and online sports betting, which is a new monthly record in the state.
  • Mobile casino operators paid a total of $28.2 million in revenue taxes.

Michigan’s tribal and commercial casinos combined to produce total gambling receipts of $190.2 million during October 2022. The amount was 7.7% better than the $176.5 million it made during the previous month.

This is despite the number of internet gaming operators in the state being reduced from 15 to 14 after one tribal operator stopped offering internet gaming last month.

Michigan Online Gaming Receipts Totalled $141 Million in October

Of the total amount, the Michigan Gaming Control Board said that $141 million was generated from online gambling. The $141 million in internet gaming receipts for October 2022 is a new monthly record for the state. The previous all-time monthly high was at $132.4 million which was set in April 2022.

The October 2022 online gambling figure is also 9.5% better than September 2022’s $128.7 million and 34.7% better on a year-on-year comparison. BetMGM was the top online casino app by revenue with a total of $52.3 million for October 2022.

At the time of announcement, Michigan’s iGaming total for October was the second-highest all-time for a US iGaming market. However, with Pennsylvania and New Jersey also setting new monthly highs, it is now listed as the 4th highest monthly iGaming revenue in any given month in U.S. online gambling history.

Total Adjusted Internet Gambling Receipts was at $158.5 Million

The total adjusted internet gambling receipts and adjusted internet sports gambling receipts totaled $158.5 million, broken down as $126.7 million from internet gaming and $31.8 million in internet sports betting. The monthly internet gaming adjusted gross receipts were up by $10.9 million or 9.4% versus September while the monthly internet sports betting receipts were 16.9% or $4.6 million better than the previous month.

When compared to last year’s numbers, the October 2022 internet gaming adjusted gross receipts improved by 28% or $27.7 million. Internet sports betting adjusted gross receipts were up by a massive 577.9% or $27.1 million on a year-on-year comparison.

Michigan casino operators generated $28.2 million in taxes and payments to the state during October. Of the amount, $26.3 million came from online gambling taxes and fees while online sports betting taxes totaled $1.9 million. Meanwhile, Detroit’s 3 casinos paid the city $7.8 million in taxes and municipal fees in October, including $6.9 million in online gaming taxes and fees and $852,875.00 in online sports betting taxes and fees.

Sports Betting Numbers are Up Too

Meanwhile, Gross sports betting receipts were $49.2 million in October, which is 2.9% better than the $47.8 million in September. Total betting handle from online sports betting was at $480.8 million, up 31.9% compared to September’s $364.5 million while the hold of 10.2% is down from last month’s 13.2%. FanDuel was the top sports betting app with $145.4 million in betting handle and $20.9 million in revenue.

The overall sports betting handle for October 2022 was listed at $504.3 million. It represented a 31.6% bump from the previous month and a 1.3% increase from October 2021. This is the strongest month for sports betting in Michigan since January 2022, which stands as its best month ever.

Michigan online sports betting got a huge boost from five weeks of a full NFL and college football schedule. Experts believe that Michigan’s lifetime sports betting handle will eclipse the $8 billion mark next month. With both sports still in full blast this month, plus the 2022 FIFA World Cup happening in Qatar, hitting that milestone isn’t a far-fetched idea.

Posted in: iGaming Regulatory & Industry