Michigan’s online gaming and sports betting operators reported a combined gross revenue of $170.83 million for February. While the figure remains substantial, it marks an 8.8 percent decrease compared to the previous month. The state’s gaming landscape, which includes commercial and tribal operators, experienced fluctuations in both internet gaming and sports betting revenue during this period.
Online Gaming and Sports Betting Breakdown:
Internet Gaming Gross Receipts: Internet gaming gross receipts for February were $148.17 million, reflecting a 3.6 percent decline from January. Despite the monthly dip, this figure represents a significant year-on-year increase of 20.6 percent compared to February 2022’s $110.56 million.
Gross Sports Betting Receipts: Gross sports betting receipts reported in February totaled $22.66 million, showing a more substantial monthly drop of 32.6 percent compared to January’s $33.64 million.
Adjustments and Tax Contributions:
Combined Adjusted Figures: The combined adjusted internet gaming gross receipts and adjusted internet sports betting gross receipts amounted to $141.73 million, indicating a 9.2 percent decrease. Internet gaming adjusted gross receipts alone were $133.28 million, down by 3.7 percent.
Internet Sports Betting Adjusted Gross Receipts: In the online sports betting segment, operators reported $8.45 million in adjusted gross receipts for February. This represents a significant drop of 52.6 percent from January’s total of $17.85 million. However, when compared to February 2022, this figure has improved significantly, reflecting a $12.4 million increase from the $3.95 million loss recorded during the same period last year.
Handle and Tax Contributions:
Handle: The total handle for February was $344.9 million, experiencing a notable decline of 27.5 percent compared to January’s $475.6 million and a 13.4 percent decrease from February 2022’s $398.4 million.
Taxes and Payments: Operators contributed $26.9 million in taxes and payments to the State of Michigan. Internet gaming taxes and fees accounted for $26.3 million, with internet sports betting taxes and fees totaling $583,263.
Responsible Gaming Campaign:
In parallel with these revenue updates, the Michigan Gaming Control Board (MGCB) launched the “Don’t Regret the Bet” responsible gaming campaign. This statewide, multi-media initiative aims to promote responsible wagering practices among Michigan residents, particularly when engaging in legal and regulated forms of gaming. The campaign includes TV and radio advertising, digital billboards, social media content, and point-of-sale video ads at gas stations, all with a focus on responsible gaming messages.
Michigan’s gaming industry, which encompasses online gaming and sports betting, continues to evolve, with fluctuations in monthly revenue figures. While February experienced a dip in revenue, the state remains committed to fostering responsible gaming practices and maintaining regulatory oversight through initiatives like the “Don’t Regret the Bet” campaign. The coming months will likely see further developments in Michigan’s gaming landscape.