October Revenue for Michigan’s iGaming, Sportsbooks, Was $205.3 Million, with Players Betting a Record $533 Million
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In October, Michigan’s commercial and tribal operators reported via the MGCB gross revenue from sports betting and iGaming totaling $205.3 million. Gross revenues were 2.4% lower than September’s figures.
Gross earnings from sports betting in October came to $45 million, while gross receipts from online gambling in MI came to $160.3 million. In September 2023, gross revenue from sports betting was $44 million and gross revenue from iGaming was $166.4 million.
When compared to September 2023, the combined adjusted gross receipts (AGR) for iGaming and online sportsbooks for October were $167.7 million, consisting of $144.2 million from iGaming and $23.5 million from online sportsbooks. This represents a 3.7% decline in iGaming and a 25.4% increase in sports betting. Sports betting had a 26.1% decrease while iGaming saw an increase of 13.9% in income compared to October 2022 reported revenues.
With $533 million in total handle from online sports betting, it was 16.5% more than the $457.7 million handle in September 2023. For the first time ever, the total handle has surpassed $500 million, making this the greatest handle in the history of online sports betting in the state.
The operators reported paying the State of Michigan $31.9 million in taxes and payments in October, which included:
- $30.1 million in fees and taxes on online gambling;
- $1.8 million in taxes and fees on online sports betting.
The three casinos in Detroit have disclosed that they have paid the City of Detroit $8.2 million in wagering taxes and municipal services costs in October. This amount includes:
- $7.5 million in taxes and fees on online gambling;
- $663,754 in taxes and fees on online sports betting.
