Michigan’s online gambling surge

Lea Hogg June 20, 2024

Michigan’s online gambling sector has soared to new heights, reaching a staggering $239.5 million in revenue, marking a significant 28.9 percent increase from the previous year. This remarkable growth spanned both the online casino and sports betting markets, showcasing the state’s burgeoning digital betting scene.

The Michigan Gaming Control Board’s latest data revealed that the state’s revenue eclipsed last year’s $185.8 million for the same month, also surpassing April’s figures by 2.0 percent with a total of $234.8 million. Online casino activities were the powerhouse of this growth, with gross receipts hitting $198.6 million—a 31.9 percent jump year-on-year. Sports betting wasn’t far behind, with gross receipts climbing 15.2 percent to $40.9 million, and the betting handle itself increasing by 19.2 percent to $343.7 million.

After accounting for promotional expenditures, the adjusted gross receipts continued the upward trend. The iGaming market saw a 31.2 percent rise, reaching $206.8 million. Online casinos contributed a substantial $178.7 million, up 31.9 percent, while sports betting adjusted receipts grew by 27.7 percent to $28.1 million. These figures encompass activities across both commercial and tribal operators.

Tax Contributions and Payments

Commercial operators contributed a hefty $38.8 million in taxes and payments to Michigan’s coffers, with iGaming generating $37.0 million and sports betting adding another $1.8 million. Tribal operators also played their part, reporting $4.5 million in payments to governing bodies.

Detroit’s trio of commercial casinos mirrored the online sector’s success, posting a 7.2 percent year-on-year revenue increase to $113.2 million. This included $111.3 million from table games and slots, up 6.3 percent and $1.9 million from sports betting QAGR, which saw an impressive 80.1% surge. MGM maintained its dominance in Detroit with a 46% market share, followed by MotorCity at 31 percent, and Hollywood Casino at Greektown holding 23 percent.

Amidst this financial success, the MGCB took regulatory action, issuing a cease-and-desist order to Curaçao-based Bovada. The board accused Harp Media BV, Bovada’s operator, of allowing access to its Bovada.com and Bovada.lv sites for Michigan residents without the necessary licensing, underscoring the state’s commitment to regulated and lawful gaming practices. This move highlights the importance of compliance in an industry experiencing exponential growth and transformation.

Find out more about SiGMA East Europe Summit 2024 to be held in Budapest.