Online Gambling Revenue in Michigan Has Soared in July 2023

Online Gambling Revenue in Michigan Has Soared in July 2023

Michigan, the tenth largest state in the United States by population, has recorded a significant increase when it comes to online sports betting and casino gambling revenue in the month of July 2023. The increase is evident both when comparing the revenue to that of the same month of 2022 but als when putting it side by side with the previous month, June 2023.

Gross Receipts on The Rise

michigan_online_gambling_revenue_tops_dlr176m_in_julySportsbook and casino operators in Michigan have recorded gross receipts of 176.1 million dollars in July, a figure which represents an increase of 18.8 percent compared to the same month last year. Moreover, the state also recorded a month-on-month increase of 4 percent as total revenue in June 2023 amounted to 169.3 million dollars. These positive results managed to stop three consecutive months of decline for online gambling in Michigan.

Online casinos had gross receipts of 153.6 million dollars in July, 21.3 higher than what was recorded in the same month in 2022 and also 1.7 percent higher than the gross receipts amassed in June 2023.

Online sports betting also recorded an increase in July, the total gross receipts amounted to 22.5 million dollars, 4.2 percent higher than last year and 23 percent higher than in June 2023. However, the handle recorded a drop of 10.8 percent from 225 million dollars in July 2022 to just 200.8 million dollars in July 2023. Spend also recorded a slight decrease month-on-month, 11.9 percent less in July 2023 than in June 2023.

Increase in Adjusted Gross Receipts

When it comes to adjusted gross receipts, a parameter which accounts for promotional spending by the operators, the state of Michigan also recorded a significant increase. The total adjusted gross receipts for iGaming and sports betting amounted to 154.6 million dollars in July, a whole 17.8 percent higher than last year and 5.8 percent more than the amount recorded in June 2023.

Online casinos were more successful than sports betting operations, with adjusted gross receipts amounting to 138.2 million dollars, up 18 percent compared to the same month last year. Sports betting operations on the other hand generated adjusted gross receipts of just 16.4 million dollars. Nevertheless, that figure was 77.5 percent higher than what was recorded in July 2022.

Licensed operators in the state paid 29.8 million dollars in taxes in July, 28.7 million dollars in casino tax and 1.1 million dollars in sports betting tax. The three commercial casinos located in Detroit also paid 7.6 million dollars in online taxes directly to the City of Detroit. Tribal operators also contributed 3.5 million dollars to the state during July 2023.

Source: “Michigan online gambling revenue tops $176m in July“. iGaming Business. August 23, 2023.

Author: Andrew Smith