Michigan Reports Record iGaming and Sports Betting Revenue in December 2024

The Michigan Gaming Control Board (MGCB) has released impressive financial results for December and FY2024, highlighting the state’s thriving iGaming and sports betting industries. Together, these sectors generated $264.2 million in December, reflecting a year-over-year increase of nearly 9%.

In December 2024, iGaming posted its highest monthly revenue in Michigan’s history at $244 million, surpassing November’s record. This milestone represents a remarkable 34.5% increase compared to December 2023.

For FY2024, iGaming contributed $2.4 billion, marking a 26.3% growth from the prior year. Its robust performance underscores the sector’s increasing appeal to Michigan residents.

Sports Betting Faces Challenges

While iGaming thrived, sports betting experienced a decline. December’s sports betting revenue fell by 66.9% year-over-year to $20.2 million. However, Michigan’s total internet sports betting handle for the month rose by 2.5%, reaching $597.7 million.

For FY2024, sports betting generated $460.5 million, a 9.5% year-over-year increase. The total sports betting handle for the fiscal year also climbed 15.2% to $5.3 billion.

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The MGCB reported $219.9 million in adjusted revenue for iGaming and sports betting in December, up 10.8% from December 2023. iGaming accounted for nearly all of this figure, generating $219.6 million. Sports betting contributed just $267,900.

Tribal operators made substantial contributions to governing bodies, totaling $55.3 million for FY2024. In December alone, they provided $5.7 million, reinforcing their commitment to the state.

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