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 setting records in the state. Additionally, online casinos also reported near-record revenue, indicating the continued popularity of gaming in Michigan.
According to Matt Schoch, lead analyst for PlayInmichigan.com, the momentum for online sports betting and casino games in Michigan is steadily increasing. He mentioned that while there may be a seasonal slowdown in sports betting during the spring, the success during the fall and winter indicates that people in Michigan are becoming more at ease with various forms of online gaming.
According to data released by the Michigan Gaming Control Board on Wednesday, online sportsbooks witnessed a surge in wagers during January, with a total of $496.8 million recorded. This marked a 2.5% increase from the $484.6 million wagered in December. Additionally, Detroit-area casinos also reported $36.6 million in retail wagering, bringing the total amount wagered in Michigan’s online and retail sportsbooks to $532.7 million for the month. This figure represented a 3.5% rise from the previous record of $514.6 million achieved in December.
In December, online sportsbooks generated a total of $34.7 million in gross revenue, slightly lower than the $34.8 million earned in the previous month. When combined with $1.2 million in retail revenue, Michigan’s sportsbooks recorded a total win of $35.9 million for the month, remaining relatively stable compared to December. After deducting promotional credits, the taxable revenue from both online and retail wagering reached $21.1 million, resulting in $2.1 million in state taxes.
The sportsbooks had a phenomenal month in January, thanks to an extra week of NFL regular season games, an expanded playoffs, and the college football national championship game. This, alongside the unwavering interest of bettors in the NBA, resulted in an unprecedented month of success.
Eric Ramsey, an analyst for the PlayUSA.com Network, including PlayInmichigan.com, highlighted the positive impact of the additional week of regular season football on sportsbooks. He stated that this extension provided them with a valuable opportunity to enjoy five complete weekends of football in January. Ramsey further emphasized that Michigan, being the sole state with a remarkable five consecutive months of exceptional betting figures, has made the most advantageous use of this football season.
In terms of online wagers, FanDuel surpassed DraftKings by generating $132.7 million, an increase from $119.9 million in December. This led to an impressive gross revenue of $12.3 million, securing the top spot in the market. On the other hand, DraftKings recorded $132.03 million in bets, up from $120.3 million in December, resulting in a gross revenue of $5.9 million.
In January, BetMGM ranked third among online platforms, recording an increase in online wagers from $108.7 million in December to $110.9 million. As a result, they generated $10.9 million in gross receipts.
According to Schoch, the competition between FanDuel, DraftKings, and BetMGM for market dominance is fierce. He mentioned that all three companies are continuously investing heavily in Michigan, indicating that this market is highly coveted in the United States.
Online casinos and poker are experiencing revenue levels close to historical highs.
Michigan’s online casinos and poker rooms continued to perform well, although they didn’t quite reach the record-breaking level, earning a revenue of $121.2 million. This figure showed a slight decline compared to December’s revenue of $121.8 million. Throughout January’s 31 days, the daily revenue remained steady at $3.9 million, the same as December’s per day average. As a result, the state collected $19.1 million in taxes, while local taxes and shares amounted to an additional $7.4 million.
Ramsey emphasized that despite the rapid growth of sports betting, online casino gambling remains the foundation of the online gaming industry. He also mentioned that since there are no foreseeable competitors from neighboring states, the online casinos in Michigan will persist in their expansion, resulting in substantial tax revenue for the state.
Other highlights from January:
- With a gross gaming revenue of $43.9 million, BetMGM emerged as the top online casino and poker operator, contributing $10.9 million in state and local taxes.
- With $20.1 million in gross receipts, DraftKings secured the second position and 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 gain further insights and analysis on regulated sports betting in Michigan, please visit PlayInmichigan.com/news. For any inquiries, you can reach out to Zack Hall from Catena Media at [email protected]
