Michigan's iGaming and Sports Betting Reach $261 Million in September

Michigan’s internet gaming (iGaming) and sports betting industries reported a combined total of $261.0 million in gross receipts for September 2024. This significant figure marks a 16.5% increase compared to the previous month, reflecting robust growth in both sectors. Tribal and commercial operators contributed to this increase, solidifying Michigan’s standing as a key player in the online gaming market.

Monthly Gross Receipts Surge

Breaking down the numbers, iGaming gross receipts for September amounted to $202.6 million, while gross sports betting receipts totaled $58.4 million. In comparison, August’s figures showed iGaming gross receipts at $196.66 million and sports betting receipts at $27.36 million. This rise is a testament to the continued popularity of online gaming and sports wagering in the state, especially as more players engage with the platforms.

The total adjusted gross receipts (AGR) for both iGaming and internet sports betting in September reached $209.9 million. This includes $182.3 million generated from iGaming and $27.6 million from sports betting. When compared to the previous month, iGaming receipts experienced a 3.1% increase, while sports betting saw an impressive 68.7% jump. On a year-over-year basis, iGaming’s AGR climbed by 21.8%, while internet sports betting rose by a substantial 47.2%, demonstrating the continuous upward trajectory of these industries.

The sports betting handle for September 2024 reached $501.8 million, a notable 79.2% rise from August’s handle of $280.1 million. This surge reflects a heightened interest in sports wagering, likely influenced by major sporting events and the growing accessibility of online betting platforms in Michigan.

Operators in Michigan contributed significantly to state and local coffers in September, with a total of $39.5 million in taxes and payments made to the State of Michigan. Out of this amount, iGaming was responsible for $38.1 million, while internet sports betting contributed $1.4 million. These figures highlight the financial benefits that the growing iGaming and sports betting markets are providing to the state.

Contributions to Detroit and Tribal Authorities

The three Detroit-based casinos made substantial payments to the City of Detroit, contributing $9.84 million in wagering taxes and municipal service fees. Of this, $9.3 million came from iGaming, while internet sports betting ed for $535,504. In addition, tribal operators across the state reported making $4.8 million in payments to their respective governing bodies, underscoring the important role that tribal gaming continues to play in Michigan’s overall gaming landscape.

As of September 2024, Michigan has authorized 15 commercial and tribal operators to offer iGaming or internet sports betting services. Out of these, MGCB) website.

The steady growth of Michigan’s iGaming and sports betting industries highlights the sector’s resilience and its increasing role in driving both entertainment and economic gains in the state.

Source:

”iGaming, sports betting operators report $261.0M in September revenue”, michigan.gov, October 17, 2024.