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Michigan online gaming finishes the year strong with record revenue growth 

Posted: Jan 06, 2023 12:45 Category: Americas , Online , Sportsbetting , Posted by Lea Hogg

Online gaming in the state of Michigan continues to boom according to revenue results published by the Michigan Gaming Control Board (MGCB). A record achievement up by 15.2 percent to US$186.3 million year-on-year (YoY) was reported in November. However there was a downturn of 27 percent to US$41 million in sports betting revenues. Total aggregate online gambling gross receipts increased YoY to US$1.30 billion with sports betting reaching $188 million.  Licensed operators paid US$28.7 million in iGaming taxes.

Strong results reported by operators

Online casino operators in Michigan paid out four jackpots of over $1 million each. BetMGM released new record revenue results of US$53.6 million for November and continues to lead the sector with $534.7 million in revenue through the first 11 months. 

Combined results were also published for three land-based Detroit casinos, MGM Grand Detroit, MototCity Casino and Hollywood Casino with a 5.9 percent downturn to US$ 101.8 million for the month of November YoY.

Background

Michigan launched online gambling in January 2021.  It was the third state in US history to reach over US$ 1 billion in online gaming revenue. The first two years have been a great success and Matt Schoch, a former blackjack player who reports on sports betting and online gaming forecasts further growth in GGR this year. He says, “there is still more room for growth with launches of more online casinos expected in the first quarter of 2023.”

Responsible Gaming

Michigan State promotes the importance of responsible gaming and intends to incorporate it as a curriculum topic for high school and college students.   

“It’s a great time to remind everyone to have fun responsibly when wagering on sporting events throughout the season,” said Henry Williams, Michigan Gaming Control Board executive director, adding that it is responsible to raise awareness among young people and educate on gaming and other related addictions and self inclusion.  MGCB use social media channels to help raise awareness in the state.

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