Michigan Smashes Records with $175.3 Million in iGaming Receipts

In a groundbreaking turn of events, Michigan’s gaming landscape witnessed an unprecedented surge in November. According to the Michigan Gaming Control Board, commercial and tribal iGaming operators reported record gross receipts totaling $175.3 million. This remarkable milestone surpassed previous records set in March and October, which stood at $171.8 million and $160.3 million, respectively.

The excitement didn't stop there. Online sports betting in Michigan also hit a new high, with a total handle of $568.8 million in November, marking a 6.7% increase from October's $533 million. However, while the handle was up, online sports betting receipts declined slightly from $45 million to $33.9 million compared to the previous month.

When combining iGaming and sports betting gross receipts, November's figures reached an impressive $209.2 million, showing a 1.9% growth from October. 

In a surprising twist, sports betting faced a sharp decline in Michigan. The combined gross receipts for iGaming and online sports betting in November totaled $158.1 million, with iGaming accounting for $157.8 million and online sports betting contributing just $294,810. This represented a month-on-month decrease of 9.4% for iGaming and a substantial 98.7% drop for online sports wagering.

Despite the fluctuations in receipts, Michigan's gaming industry continued to contribute to the state's revenue. In November 2023, a total of $33.6 million in taxes and payments were reported, with $32.9 million coming from iGaming and $740,056 from sports betting. Additionally, Detroit's three casinos contributed $8.4 million in wagering taxes and municipal service fees, while tribal operators added $4.1 million to governing bodies.

The success story doesn't end there. In November, iGaming operators exceeded the total gross receipts of the entire previous year, with 2023's receipts totaling $1.742 billion compared to 2022's $1.582 billion. Meanwhile, sports betting receipts for the year reached $359.25 million, marking a 2.4% increase from the same period in 2022.

While the overall numbers were positive, the year-to-date sports betting handle for 2023 stood at $4.046 billion, slightly lower than the $4.071 billion from the previous year.

Michigan's gaming industry, with 15 authorized operators offering iGaming or online sports betting, is setting the pace for the future of gambling in the state, with potential for continued growth and innovation.