Michigan reports $218.5m in iGaming & sports betting revenue for February

Commercial and Tribal online gambling operators in Michigan have reported $218.5m in iGaming revenue for February, marking a 4.8% decrease in gross receipts from January. 

Overall, the total monthly handle for internet sports betting had fallen by 30.3% to $402.6m from January’s figures. However, iGaming gross revenuereached their highest total to date, hitting $188m and beating the previous high of $181.9m recorded the month before. Sports betting revenue, on the other hand, fell from $47.7m in January to $30.5m for February.  

Combined, total internet sports betting and iGaming adjusted gross receipts (AGR) for February in Michigan totaled $182.1m. Of this, $169.2m came from iGaming, with the remaining $12.9m coming from online sports betting – this marked a 3.1% increase for the iGaming sector from January. Further, compared to February 2023, online sports betting AGR was up 52.7% and iGaming AGR up 27%.  

Operators reported a total of $34.7m in taxes and payments to the state of Michigan. The state’s largest city, Detroit, has three casinos – which paid a combined total of $9.3m in wagering taxes and municipal service fees to the City of Detroit in February. Tribal operators also reported a total of $3.9m in payments to governing bodies during the month.  

In 2023, Michigan-based sports betting operators reported a combined $2.3bn in revenue. In addition, the state has recently signed a five-year deal with Pollard Banknote – making them the sole supplier of all its lottery ticket products.

With online casinos, iGaming products and virtual sportsbooks pouring into the state, officials will hope this forward-thinking deal, alongside these latest revenue figures, will spell a continuous upward trajectory for the state’s gambling industry.  

Will Underwood

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