Michigan iGaming, Sports Betting Operators Report $205.3M in October Revenue, Bettors Wagered Record $533M

By | November 24, 2023

 

Michigan commercial and tribal operators reported a combined $205.3 million total internet gaming (iGaming) gross receipts and gross sports betting receipts in October. Gross receipts decreased 2.4% compared to September results.

October iGaming gross receipts totaled $160.3 million and gross sports betting receipts totaled $45 million. In September 2023, iGaming gross receipts were $166.4 million and gross sports betting receipts were $44 million.

Combined total iGaming and internet sports betting adjusted gross receipts (AGR) for October were $167.7 million, including $144.2 million from iGaming and $23.5 million from internet sports betting — representing an iGaming decrease of 3.7% and a 25.4% increase for sports betting when compared to September 2023. Compared to October 2022 reported revenues, iGaming AGR was up by 13.9% and sports betting was down by 26.1%.

Total internet sports betting handle at $533 million was up by 16.5% from the $457.7 million handle recorded in September 2023. This is the highest internet sports betting handle to date and the first time the total handle has exceeded $500 million.

The operators reported submitting $31.9 million in taxes and payments to the State of Michigan during October, including:

  • Internet gaming taxes and fees: $30.1 million
  • Internet sports betting taxes and fees: $1.8 million

The three Detroit casinos reported paying the City of Detroit $8.2 million in wagering taxes and municipal services fees during October, including:

  • Internet gaming taxes and fees: $7.5 million
  • Internet sports betting taxes and fees: $663,754

Tribal operators reported making $3.7 million in payments to governing bodies in October.

As of October, a total of 15 commercial and tribal operators have been authorized to launch iGaming and/or internet sports betting. Currently, 14 commercial and tribal operators offer internet sports betting, and 15 operators offer iGaming.

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