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In January, online sports betting in Michigan saw a total of $115.2 million in bets, while online casinos and poker sites collectively generated $42.7 million in revenue.
During the first 10 days of online gambling in Michigan, starting from the Jan. 22 launch until the end of January, the gross sports betting receipts amounted to $13.3 million. Additionally, internet gaming contributed $29.4 million in revenue for the state.
In addition to the $35.6 million in retail sports bets made at Detroit’s three casinos in January, the Michigan Gaming Control Board received reports of $150.8 million in sports bets. It is important to note that this figure does not take into account the retail operations at tribal casinos, as they are not obligated to report to the MGCB.
Tax revenue impacted by launch promotions
During the initial 10 days, online gambling yielded $4.4 million in taxes and payments to the state. In January, the three Detroit casinos contributed approximately $1.4 million in taxes and fees to the city. Furthermore, tribal operators disclosed payments exceeding $428,000 to their respective tribes’ governing bodies.
Promotions aimed at attracting new customers heavily affect taxes shortly after a state’s launch, thereby reducing taxable revenues, especially in the case of sports betting.
On January 22nd, a total of ten sports betting operators and eight online casinos were launched. Later, on January 29th, the market further expanded with the addition of Fox Bet, Stars Casino, and PokerStars, as Michigan online poker was introduced. However, the report does not differentiate the three days of online poker from internet gaming in terms of numbers.
Barstool included its online casino in its offerings on February 1, however, the January data does not take it into account. On February 15, Four Winds Casinos also introduced online products, and their first partial month will be included in the report for the following month.
FanDuel leads sports betting, BetMGM leads casinos
In January, FanDuel emerged as the market leader with $32.6 million in sports bets, accounting for 28.3% of the total market share. The top four operators significantly surpassed their counterparts in terms of performance.
Here is the revised version: The distribution of online sports betting revenue in Michigan is as outlined below:
| Online Sportsbook | Total Handle | Market Share |
|---|---|---|
| FanDuel | $32.6 million | 28.3% |
| DraftKings | $28.2 million | 24.5% |
| Barstool | $27.5 million | 23.9% |
| BetMGM | $22.8 million | 19.8% |
| PointsBet | $1.5 million | 1.3% |
| BetRivers | $1.1 million | 0.9% |
| William Hill | $692,319 | 0.6% |
| TwinSpires | $327,661 | 0.3% |
| WynnBet | $248,879 | 0.2% |
| Fox Bet* | $160,052 | 0.1% |
| Golden Nugget | $106,904 | 0.1% |
With $11.1 million in adjusted gross receipts, BetMGM emerged as the leading internet gaming operator, capturing a market share of 37.7% in the online casino industry.
Here is the revised sentence: The remaining portion of the revenue from internet gaming is distributed in the following manner:
| Online Casino/Poker | Total Revenue | Market Share |
|---|---|---|
| BetMGM | $11.1 million | 37.7% |
| DraftKings | $6.9 million | 23.6% |
| FanDuel | $6.6 million | 22.6% |
| Stars Casino / PokerStars* | $2 million | 6.7% |
| BetRivers | $1.4 million | 4.6% |
| WynnBet | $721,916 | 2.5% |
| Golden Nugget | $489,631 | 1.7% |
| William Hill | $122,014 | 0.4% |
| TwinSpires | $60,642 | 0.2% |
On January 29, Fox Bet and PokerStars were launched.
How does Michigan’s online gambling launch compare?
It is challenging to accurately evaluate Michigan’s launch with only 10 days of data.
In November, the latest launch witnessed an incredible feat as Tennessee shattered records by accumulating over $131 million in bets statewide.
Nevertheless, the aforementioned event marked a genuine commencement of sports betting, whereas the introduction of sports betting in Michigan occurred on March 11, 2020, with the opening of two retail sportsbooks in Detroit.
Another advantage that Tennessee had over Michigan was the early start, as they launched online wagering on November 1st, providing Tennesseeans with a full month of legal online betting ahead of Michigan.
Michigan online casinos expected to grow
In addition to the aforementioned, it is worth noting that Michigan’s online gambling sector encompasses 10 casino apps, making it one of the limited number of states that have legalized online casinos.
Online casinos in Michigan made nearly $30 million in revenue within their initial 10 days of operation. On the other hand, when New Jersey introduced online casino gambling in 2013, the first complete month witnessed a combined gaming win of $7.4 million from 13 operators, encompassing both poker and casino games.
On the other hand, while New Jersey’s industry was a fresh addition to the United States, Michigan’s online launch occurs in a time when internet betting generates significantly more attention and enthusiasm.
By 2021, New Jersey’s online gambling revenue reached nearly $104 million in January, as reported by 26 online casinos. On the other hand, Pennsylvania’s 12 online casinos generated $80 million in online casino revenue for January, since its industry began in 2019.
The industry is expected to experience a significant transformation with a complete month of online gambling and sports betting in Michigan.
In a statement announcing the figures, Richard Kalm, Executive Director of the MGCB, expressed that internet gaming operators in Michigan have had a promising beginning. He further highlighted the positive impact of taxes and payments from online gaming, emphasizing how they would contribute to funding K-12 students, the city of Detroit, and Michigan tribal communities.
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