Michigan Sees Steady Growth in iGaming and Sports Betting Revenue for August
In August, Michigan’s commercial and tribal operators collectively reported $224.02 million in total gross receipts from iGaming and online sports betting, a 1.4% increase from July
Breakdown of August Revenue
iGaming continued to dominate the market with $196.66 million in gross receipts, a slight rise from $191.44 million in July. On the other hand, sports betting saw a slight decline, generating $27.36 million in August compared to $29.42 million in the previous month.
When adjusted for promotional credits and other factors, Michigan’s iGaming and internet sports betting adjusted gross receipts (AGR) reached $193.2 million for August.
iGaming contributed $176.9 million, representing a 2.7% increase from July, while sports betting adjusted receipts totaled $16.3 million, reflecting a 5.2% decrease.
Notably, compared to August 2023, iGaming AGR rose by a significant 28.9%, whereas sports betting saw a modest 2.8% increase year-on-year.
Sports Betting Handle Sees Uptick
Despite the slight decline in sports betting gross receipts, the total handle — the amount wagered by bettors — for internet sports betting surged to $280.1 million, up 11.9% from $250.2 million in July. This indicates that while bettors placed more wagers, overall profitability from sports betting saw a dip.
In terms of taxes and payments to the State of Michigan, operators reported contributing $37.77 million in August. Of this amount, iGaming accounted for $36.9 million, while internet sports betting taxes and fees contributed $874,501.
Detroit’s three casinos paid an additional $9.39 million in wagering taxes and municipal services fees to the city, with the majority stemming from iGaming activities.
Tribal Operators’ Contributions
Michigan’s tribal operators, which play a crucial role in the state’s gaming landscape, made $4.6 million in payments to governing bodies during August, ensuring the inclusion of tribal interests in the broader market.
As of August 2024, a total of 15 commercial and tribal operators have been authorized to offer iGaming or internet sports betting. Currently, 12 operators are active in sports betting, while 15 provide iGaming services. This reflects Michigan’s expanding digital gaming ecosystem, with both tribal and commercial operators contributing to the state’s growing market.
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