Michigan, known for its flourishing online gambling and sports betting market, reported combined gross receipts of $195.7 million in April, representing a slight decrease of 9.6% compared to March. This dip is notable but not unexpected given the inherent fluctuations in the industry.
Breakdown of Gross Receipts
In April, gross receipts from internet gaming amounted to $159.4 million, while gross sports betting receipts reached $36.3 million. It is worth noting that in March 2023, the state saw record-breaking gross receipts of $171.8 million in internet gaming and $44.6 million in sports betting.
Combined adjusted gross receipts from internet gaming and sports betting in April were $167.9 million. This total included $143.4 million from internet gaming and $24.5 million from internet sports betting. These figures represent a 7.3% decrease for internet gaming and a 22% decrease for internet sports betting compared to March 2023. However, they indicate a significant year-on-year increase of 20.2% for internet gaming and 46.8% for internet sports betting compared to April 2022.
Sports Betting Handle
The sports betting handle experienced a 20.8% decrease, falling to $322.8 million in April from the $407.7 million recorded in March 2023. This decline is consistent with the typical ebb and flow of sports betting activity.
Contributions to State Revenue
Operators in Michigan contributed $31 million in taxes and payments to the state in April, while tribal operators made payments of $3.6 million to their respective governing bodies.
Land-Based Casinos
Detroit’s three casinos reported total revenue of $109.7 million for April, reflecting a moderate 6.9% decrease compared to March. This revenue includes earnings from table games, slots, and retail sports betting, which amounted to $120,350.
Michigan’s online casino gaming and sports betting market remains dynamic, with figures experiencing natural fluctuations. While April saw a slight dip in revenue, the overall trend continues to be positive, showing considerable growth compared to the same period in the previous year. Michigan remains a significant player in the online gambling and sports betting landscape, and the state’s market is expected to continue evolving and expanding.