Michigan Online Gaming Set another Record Month in March

Michigan Online Gaming Set another Record Month in March

Online gaming in Michigan continued to raise the bar in March after the state registered another record month in online gaming, the monthly internet gaming and sports betting report released by the Michigan Gaming Control Board (MGCB) revealed.

Double-Digit Increases Across the Board

Commercial and tribal operations accounted for a combined $162.15 million in total gross receipts and gross sports betting receipts in March to register an increase of 11.61% on February’s $145.28 million.

Internet gaming gross receipts set another record month for the state in March with $131.67 million to beat its previous record of $122.8 million set in February by more than 7%. Gross sports betting receipts contributed with $30.48 million, posting an increase of more than 35% of the reading in February.

Adjusted internet gaming and sports betting receipts came out at $133.24 million, up 25% on February’s $106.61 million. Of the total, $118.58 million came from internet casino gaming and $14.66 million from internet sports betting.

Compared with February’s $110.56 million from internet casino gaming and a loss of $3.95 million from internet sports betting, March posted an increase of 7.25% in online casino gaming and overturned a loss into profit in online sports betting.

On a year-over-year basis, March posted an increase of 33.7% in internet gaming adjusted gross receipts while internet sports betting adjusted gross sports betting receipts registered a drop of 22.8%.

Michigan’s total internet sports betting handle in March accounted for $451.6 million, registering an increase of 13.4% to February’s $398.4 million.

Sports Betting to Winning Ways

Total internet sports betting handle at $451.6 million was up 13.35% compared with February results.

The state received $24.75 million in taxes and payments from the internet gaming and sports betting operators, comprising $23.9 million in internet gaming taxes and fees and $805,334 in internet sports betting taxes and fees.

In February, the state of Michigan received $22 million, comprising $21.6 million in internet gaming taxes and fees and $360,354 generated from internet sports betting taxes and fees.

Commercial casinos in Detroit paid to the city $7 million in wagering taxes and municipal servicing fees in March, a 12.9% increase on February’s $6.2 million the three casinos contributed to the city’s coffers.

Of the $7 million, $6.5 million was generated from internet gaming taxes and fees, and $499,459 came from internet sports betting taxes and fees. In the previous month, internet gaming taxes and internet sports betting taxes generated $6 million and $221,194, respectively.

Tribal internet operations in March generated $2.7 million in payments to governing bodies, as compared to $2.3 million in February. Aggregating the first quarter of 2022, the report revealed internet gaming adjusted gross receipts totaled $338.3 million and internet sports betting adjusted gross receipts were $29.9 million.

Author: Ian Douglas