Michigan sees $227M online gaming and sports betting January revenue, iGaming sets new record

Michigan commercial and tribal operators reported a combined $229.6 million in iGaming gross receipts and sports betting gross receipts in January, representing a 5.4% decrease compared to December. However, as for iGaming in particular, January marks the third month in a row for operators to set a new monthly revenue record. 

The January total was driven by iGaming, which reported gross receipts totaling $181.9 million, a minor month-over-month increase of 0.3% and a new all-time high, according to the latest report from the Michigan Gaming Control Board. Meanwhile, gross sports betting receipts for December totaled $47.7 million, representing a 21.9% drop from December 2023’s $61.1 million.

In January, iGaming and internet sports betting in Michigan operators reported combined adjusted gross receipts (AGR) of $183 million. iGaming surged by 05%, reaching $164.2 million, while sports betting experienced a 46.5% decrease compared to December 2023, amounting to $18.8 million. On a year-on-year basis, iGaming AGR rose by 18.7%, and sports betting was up by 5.4%. 

Additionally, Michigan's total internet sports betting handle was $577.4 million in January, a 1.0% decrease from the $583 million recorded in December. These were the 3 top-performing operators in January based on betting handle and revenue figures:

1. FanDuel: $213.97 million in handle with $13.70 million in AGR
2. DraftKings: $166.77 million handle and $2.90 million in revenue
3. BetMGM: $73.20 million in handle and $2.60 million in AGR

The State of Michigan saw $31.3 million in taxes and payments from operators in January, with the lion’s share of $30 million coming from iGaming. Sports betting contributed $1.3 million in January.

The three casinos in Detroit played a substantial role, paying a total of $8.5 million in wagering taxes and municipal services fees to the city from online gaming. Additionally, tribal operators reported making $3.6 million in payments to governing bodies in January.