Michigan reports record online sports betting handle of $533m in October
Gross receipts of iGaming and sports betting decreased compared to September.
The Michigan Gaming Control Board has reported the state’s online gaming results for October, reporting a record total handle for online sports betting of $533m, which also represents an increase of 16.5% from September’s total handle.
This is the highest online sports betting handle recorded in a month for Michigan, with it also being the first time it has surpassed $500m since it launched in the Great Lake State in January 2021.
Part of the reason for the general increase, which was seen not only in October but in September as well (which saw an increase of 109.5% from August), may potentially coincide with the start of the 2023-24 National Football League (NFL) season which started in September.
Michigan’s commercial and tribal operators reported a combined $205.3m total online gaming (iGaming) gross receipts and gross sports betting receipts in October, which was a 2.4% decrease from September. Of this, iGaming gross receipts were valued at $160.3m and gross sports betting receipts totaled $45m.
The operators in the state reported submitting $31.9m in taxes and payments to the State of Michigan in October, including online gaming taxes and fees of $30.1m and online sports betting taxes and fees of $1.8m.
Detroit’s three casinos reported paying the City of Detroit $8.2m in wagering taxes and municipal services fees during the month which included online gaming taxes and fees of $7.5m and online sports betting taxes and fees of $663,754. Tribal operators reported making $3.7m in payments to governing bodies in October.
In land-based related news from Michigan this week, casino workers from two of the three Detroit casinos who have been on strike have agreed to the terms of a new contract, while workers from MGM Grand Casino reportedly remain on strike.
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