Michigan Shatters Records with $2.30 Billion in Online Gambling Revenue

In 2023, the gambling sector in Michigan had a remarkable upswing, with yearly earnings of $2.34 billion—a remarkable 18.3% rise over the $1.98 billion earned in 2022. These numbers, which now include regulated commercial and tribal igaming businesses, greatly exceeded the $1.40 billion recorded in 2021, the year when legal betting first became available.

The thorough analysis reveals that overall sports betting receipts came to $420.4 million, with igaming accounting for the lion’s share of the total income at $1.90 billion. Despite the fact that the sports betting handle remained steady at $4.60 billion for the whole year, both of these figures set new yearly records.

Taking promotional deductions into account, the adjusted gross receipts (AGR) from igaming and sports betting combined amounted to $1.96 billion, marking an 18.8% surge from the previous year. Within this, igaming AGR stood at $1.73 billion, while adjusted gross sports betting receipts reached $223.5 million.

Tax Contributions and Distribution

Operators demonstrated their fiscal responsibility by contributing a substantial $369.8 million in total tax. This encompassed $354.0 million in igaming taxes and fees, along with $15.8 million from the sports betting sector. The city of Detroit’s three casinos played a notable role, contributing $95.8 million to the total igaming and sports betting tax, while tribal operators contributed $43.1 million to governing bodies.

In addition to the remarkable annual performance, Michigan capped off 2023 with unprecedented figures in December. Total gross online gambling revenue for the month soared to $181.4 million, marking the highest monthly total to date, surpassing both December 2022 and November 2023 by 20.4%.

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The igaming industry was mostly responsible for the spike, with a startling $181.4 million in total sales. Together with a record handle of $583.0 million, gross sports betting receipts also reached a new monthly high of $61.1 million.

Following the required adjustments, the overall gross revenue from online gaming in December came to $198.4 million, indicating a noteworthy 29.8% annual growth. The adjusted gross sports betting revenues (AGR) for igaming was $163.3 million, and for sports betting, it was $35.1 million.

Operators paid $36.7 million in taxes each month for December, satisfying their tax responsibilities. Of that amount, $34.1 million came from igaming and $2.6 million from sports betting. The tribes and casinos in Detroit each made contributions of $4.3 million and $9.4 million.

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