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SPORTS BETTING

US – Michigan reports October 2023 iGaming and sports betting revenue

By - 22 November 2023

Michigan commercial and tribal operators reported a combined $205.3m total internet gaming gross receipts and gross sports betting receipts in October. Gross receipts decreased 2.4 per cent compared to September results.

October iGaming gross receipts totaled $160.3m and gross sports betting receipts totaled $45m. In September 2023, iGaming gross receipts were $166.4m and gross sports betting receipts were $44m.

Combined total iGaming and internet sports betting adjusted gross receipts (AGR) for October were $167.7m, including $144.2m from iGaming and $23.5m from internet sports betting — representing an iGaming decrease of 3.7 per cent and a 25.4 per cent increase for sports betting when compared to September 2023. Compared to October 2022 reported revenues, iGaming AGR was up by 13.9% and sports betting was down by 26.1 per cent.

Total internet sports betting handle at $533m was up by 16.5 per cent from the $457.7m handle recorded in September 2023. This is the highest internet sports betting handle to date and the first time the total handle has exceeded $500m.

The operators reported submitting $31.9m in taxes and payments to the State of Michigan during October, including Internet gaming taxes and fees of $30.1m and internet sports betting taxes and fees of $1.8m.

The three Detroit casinos reported paying the City of Detroit $8.2 million in wagering taxes and municipal services fees during October, including Internet gaming taxes and fees: $7.5m and Internet sports betting taxes and fees of $663,754. Tribal operators reported making $3.7m in payments to governing bodies in October.

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