Michigan sports betting and iGaming earn $209.2M

The commercial, together with the tribal operators in Michigan, managed to accumulate $209.2 million in iGaming and sports wagering gross receipts in November. This speaks of a hike of 1.9% as compared to October. 

According to the release from the Michigan Gaming Control Board, the significant surge in aggregate receipts totaling $175.3 million can be attributed to iGaming. This was significantly greater than the previous increase of $171.8 million in March of this year. Concurrently, sports betting experienced a decline of $11.1 million from October to November, totaling $33.9 million.

During November, the combined adjusted gross receipts (AGR) for iGaming and online sports betting sites wagering reached $158.1 million. iGaming experienced a robust 9.4% growth, totaling $157.8 million, while sports betting witnessed a substantial decline of 98.7% compared to October 2023. The amount collected in November amounted to $294,810. Notably, the iGaming AGR showed an annual increase of 20.5%, contrasting with sports betting, which saw a significant decrease of 98.9%.

Michigan is known to have the highest-ever online sports wagering handle, with the amount being $568.8 million in November, which speaks of a 6.7% rise as compared to $533 million in October. Michigan collected $33.6 million in the form of taxation in November. The maximum, however, was contributed by iGaming towards taxes, the figure reaching $32.9 million. In November, sports wagering brought in $740,056. Detroit City’s three casinos paid up an amount of $8.2 million via taxes related to online gaming.

According to the latest information released, Michigan’s online casinos will be reaching new heights with regards to gross revenue collection in the upcoming fiscal year. It is expected to increase by 16.7% as compared to the initial five months pertaining to FY 2022–23.

John Scott

John Scott joined the Times of Casino’s team as a news writer. He previously worked with foremost publications as an intern. He holds bachelor of journalism degree and more than three years of experience of writing. In his free time, he enjoys travelling different places.

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