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Revamped NFL schedule helps spur $530 million in wagers in January while online casinos fall just short of revenue record, according to Playinmichigan
According to Playinmichigan, the gaming industry in Michigan continues to gain momentum as sports betting handle reached over $530 million in January. This marks the fifth consecutive month of record-setting figures. Additionally, online casinos also witnessed significant revenue, further highlighting the industry’s growth in the state.
Matt Schoch, lead analyst for PlayInmichigan.com, expressed that the momentum for online sports betting and casino games in Michigan is steadily increasing. He acknowledged that there might be a temporary decline in sports betting during the spring season, but highlighted that the fall and winter have demonstrated a growing acceptance of online gaming among Michiganders.
According to data released by the Michigan Gaming Control Board on Wednesday, online sportsbooks in Michigan received a total of $496.8 million in wagers during January. This marked a 2.5% increase from the $484.6 million recorded in December. In addition, $36.6 million in retail wagering at Detroit-area casinos was reported earlier this week, bringing the total wagering for the month to $532.7 million when combined with online wagers. This figure represented a 3.5% increase from the previous record of $514.6 million set in December.
In December, online sportsbooks earned a total of $34.7 million in gross revenue, just slightly lower than the $34.8 million earned in the previous month. When combined with $1.2 million in retail revenue, the sportsbooks in Michigan collectively made $35.9 million for the month, essentially matching their earnings from December. After accounting for promotional credits, the taxable revenue from both online and retail wagering amounted to $21.1 million, resulting in $2.1 million in state taxes.
In January, sportsbooks experienced significant gains due to a bonus week of NFL regular season matches, an extended playoffs schedule, and the college football national championship game. This, coupled with sustained enthusiasm from bettors in the NBA, resulted in an unprecedented month of success, setting new records.
Eric Ramsey, an analyst for the PlayUSA.com Network, which includes PlayInmichigan.com, stated that the additional week of regular season football greatly benefited sportsbooks. He emphasized that Michigan, being the only state with five consecutive months of record wagering, has maximized the opportunities presented by this football season.
In terms of online wagers, FanDuel outperformed DraftKings with a total of $132.7 million, an increase from $119.9 million in December. This led to a commendable $12.3 million in gross revenue, making FanDuel the market leader. On the other hand, DraftKings recorded $132.03 million in bets, up from $120.3 million in December, resulting in $5.9 million in gross revenue.
In January, BetMGM experienced growth in online wagers, reaching $110.9 million compared to $108.7 million in December. These wagers resulted in gross receipts of $10.9 million.
Schoch noted that FanDuel, DraftKings, and BetMGM are fiercely competing for market dominance. He pointed out that all three companies are consistently investing substantial resources in Michigan, demonstrating the immense value this market holds in the United States.
Revenue from online casinos and poker is reaching near-record levels.
Although Michigan’s online casinos and poker rooms continued to perform strongly, they missed setting a new record with a revenue of $121.2 million, a slight decrease from December’s $121.8 million. Throughout January’s 31 days, the daily revenue remained steady at $3.9 million, just as it was in December. As a result, the state collected $19.1 million in taxes, while local taxes and shares amounted to an additional $7.4 million.
Ramsey stated that while sports betting is experiencing significant growth, casino gambling remains the cornerstone of the online gaming industry. He further added that due to the absence of competing neighboring states, online casinos in Michigan will persistently expand, contributing substantial tax revenue for the state.
In addition, January brought forth other notable moments:
- With a whopping $43.9 million in gross gaming revenue, BetMGM emerged as the top-performing online casino and poker operator, contributing a notable $10.9 million in state and local taxes.
- DraftKings generated $20.1 million in gross receipts, making it the second highest earner. It contributed $4.4 million in state and local taxes.
MI online sports betting revenue, January 2022
| Licensee | Online Brand | Total Handle | Online Handle | Retail Handle | Revenue (GGR) | Promos | State Tax | Local Tax |
|---|---|---|---|---|---|---|---|---|
| MotorCity | FanDuel | $140,234,272 | $132,725,179 | $7,509,093 | $12,841,041 | $3,600,545 | $532,390 | $352,799 |
| Bay Mills | DraftKings | $132,031,967 | $132,031,967 | ? | $5,916,912 | $663,552 | $441,282 | $0 |
| MGM Grand Detroit | BetMGM | $118,829,004 | $110,897,175 | $7,931,829 | $11,383,030 | $5,722,592 | $322,716 | $217,494 |
| Greektown | Barstool | $70,384,826 | $49,960,608 | $20,424,218 | $3,682,159 | $840,986 | $147,535 | $115,016 |
| Grand Traverse | Caesars | $35,472,370 | $35,472,370 | ? | $1,159,230 | $1,872,721 | $0 | $0 |
| Lac Vieux Desert | PointsBet | $12,859,766 | $12,859,766 | ? | $1,096,061 | $1,350,242 | $0 | $0 |
| Little River | BetRivers | $7,955,875 | $7,955,875 | ? | $155,219 | $391,685 | $0 | $0 |
| Little Traverse Bay | Fox Bet | $5,103,843 | $5,103,843 | ? | $96,290 | $178,411 | $0 | $0 |
| Match-E-Be-Nash-She-Wish | Play Gun Lake | $2,475,213 | $2,475,213 | ? | $12,251 | $326,673 | $0 | $0 |
| Nottawaseppi Huron | FireKeepers | $2,056,071 | $2,056,071 | ? | $103,387 | $89,761 | $0 | $0 |
| Sault Ste. Marie | WynnBet | $1,826,241 | $1,826,241 | ? | $125,184 | $95,873 | $2,462 | $0 |
| Hannahville | TwinSpires | $1,575,169 | $1,575,169 | ? | -$39,894 | $208,638 | $0 | $0 |
| Keweenaw Bay | Golden Nugget | $1,007,412 | $1,007,412 | ? | $96,726 | $56,829 | $3,351 | $0 |
| Pokagon | Four Winds | $869,678 | $869,678 | ? | $20,161 | $147,480 | $0 | $0 |
| Total | $532,681,710 | $496,816,569 | $35,865,140 | $36,647,758 | $15,545,988 | $1,449,737 | $685,309 |
MI online casino revenue, January 2022
| Licensee | Brand | Revenue | Promos | State Tax | Local Tax |
|---|---|---|---|---|---|
| MGM Grand Detroit | BetMGM | $43,885,956 | $4,388,596 | $7,265,483 | $3,607,495 |
| Bay Mills | DraftKings | $20,095,684 | $2,009,568 | $3,507,290 | $876,822 |
| MotorCity | FanDuel | $17,641,287 | $1,764,129 | $2,635,923 | $1,328,146 |
| Little River | BetRivers | $8,226,960 | $822,696 | $1,239,150 | $309,788 |
| Keweenaw Bay | Golden Nugget | $5,989,843 | $598,984 | $884,791 | $221,198 |
| Sault Ste. Marie | WynnBet | $5,308,084 | $530,808 | $776,801 | $194,200 |
| Greektown | Barstool | $4,866,901 | $486,690 | $618,552 | $319,847 |
| Grand Traverse | Caesars | $4,394,234 | $439,423 | $632,770 | $158,192 |
| Little Traverse Bay | Fox Bet | $3,109,849 | $310,985 | $447,818 | $111,955 |
| Match-E-Be-Nash-She-Wish | Play Gun Lake | $2,244,731 | $224,473 | $323,241 | $80,810 |
| Pokagon | Four Winds | $2,192,581 | $219,258 | $315,732 | $78,933 |
| Hannahville | TwinSpires | $1,314,135 | $117,692 | $191,431 | $47,858 |
| Nottawaseppi Huron | FireKeepers | $1,145,881 | $114,588 | $165,007 | $41,252 |
| Lac Vieux Desert | PointsBet | $827,377 | $38,566 | $126,210 | $31,552 |
| Total | $121,243,501 | $12,066,457 | $19,130,198 | $7,408,048 |
To find out more details and analysis about regulated sports betting in Michigan, please visit PlayInmichigan.com/news. To get in touch, reach out to Zack Hall from Catena Media at [email protected]
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