Michigan Online Gambling Revenue Reaches $2.9 Billion in 2024

Michigan’s commercial and tribal gaming operators reported a combined total of $264.2 million in internet gaming (iGaming) and sports betting gross receipts for December. This figure represents a 7.1% decline compared to November.

However, during the 2024 calendar year, revenue from online gambling in Michigan reached an all-time high of $2.9 billion (£2.4 billion/€2.8 billion). The state reported record figures across both iGaming and sports betting sectors.

December 2024 Revenue Performance

December iGaming gross receipts in Michigan reached a record $244.0 million, suring the previous high of $226.0 million in November 2024. Meanwhile, gross sports betting receipts for December amounted to $20.2 million, a sharp decline from the $58.3 million recorded in November.

The total adjusted gross receipts (AGR) for December stood at $219.9 million, with iGaming contributing $219.6 million and sports betting ing for $267,881. Compared to November figures, iGaming AGR rose by 8.0%, while sports betting AGR saw a steep decline of 99.3%. Year-over-year, iGaming AGR increased by 34.5%, while sports betting AGR fell by 99.2%.

The total internet sports betting handle in December amounted to $597.7 million, reflecting an 8.1% decrease from November’s $650.2 million.

Tax Contributions and Payments

Operators reported paying $46.1 million in taxes and fees to the State of Michigan in December. Of this amount, $45.9 million came from iGaming, while $214,291 was derived from internet sports betting.

The three Detroit casinos contributed $11.4 million in wagering taxes and municipal services fees, with all of it coming from iGaming, as their sports betting AGR was negative.

Tribal operators paid $5.7 million to governing bodies in December.

2024 Annual Overview

For the full year, Michigan’s iGaming and sports betting revenue reached a record $2.9 billion, marking a 23.8% increase from 2023. Of this total, iGaming contributed $2.4 billion, while sports betting added $460.5 million.

Adjusted gross receipts for 2024 totaled $2.4 billion, comprising $2.2 billion from iGaming and $194.4 million from sports betting, reflecting a 22.3% increase compared to the previous year.

The total sports betting handle for 2024 reached $5.3 billion, representing a 15.2% year-on-year rise.

In of tax contributions, operators paid $466.1 million to the state in 2024, with $451.4 million from iGaming and $14.7 million from sports betting. Detroit’s three commercial casinos paid $118.86 million in local taxes, including $113.42 million from iGaming and $5.44 million from sports betting. Tribal operators contributed $55.3 million to their respective governing bodies.

Market Leaders and Key Trends

BetMGM and MGM Grand Detroit led the iGaming market with $640.1 million in gross receipts and $576.9 million in adjusted receipts. FanDuel and MotorCity Casino followed closely with $614.6 million in gross receipts and $552.8 million in adjusted receipts.

DraftKings and the Bay Mills Indian Community ranked third with gross receipts of $454.7 million and adjusted receipts of $409.6 million.

In sports betting, FanDuel and MotorCity Casino led with $202.4 million in gross receipts off a $2.0 billion handle, achieving a 10.36% hold. DraftKings and the Bay Mills Indian Community reported $125.5 million in gross receipts with a handle of $1.5 billion, while BetMGM and MGM Grand Detroit posted $65.8 million in revenue.

Source:

“Michigan iGaming, sports betting operators report $264.2M in December revenue, $2.9B total for 2024”, michigan.gov, January 21, 2025.