Michigan iGaming, sports betting operators post $2.3bn in revenue for 2023

The state generated an annual handle of $4.6bn.

The Michigan Gaming Control Board has released both its December sports betting numbers and results for the 2023 fiscal year. The Great Lake State brought in a total of $2.3bn in revenue for the year, up 18.3% year-over-year.

During December, sports betting and iGaming statewide revenue reached $242.5m, reflecting an increase of 15.9% when compared to results from November.

Gross receipts for the month were the highest to date, totaling $181.4m. December’s total surpassed the previous high from November by more than $6m.

Gross sports betting receipts for the month also topped the previous all-time high, with the total last month reaching $61.1m.

December iGaming gross receipts were $175.3m, and gross sports betting receipts reached $33.9m.

Michigan’s internet sports betting handle in December grew by 2.5% when compared to November’s results and totaled $583m.

The state posted iGaming and internet sports betting adjusted gross receipts (AGR) that reached $198.4m during December. In a breakdown of the monthly total, iGaming contributed $163.3m, and internet sports betting brought in another $35.1m.

December iGaming and internet sports betting AGR rose by 18.8% and 14.3% year-over-year respectively.

During December, operators around the state reported that they submitted $36.7m in state taxes. iGaming contributed $34.1m in taxes and fees, while internet sports betting chipped in another $2.6m.

For the fiscal year, Michigan posted an annual handle of $4.6bn. Operators paid close to $369.8m in taxes and payments to the state during 2023.

According to last month’s report, the state has authorized 15 commercial and tribal operators to launch iGaming and internet sports betting.

Amanda Foster

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