Michigan’s commercial and tribal online gambling operators brought in $1.98 billion in revenue in 2022, up 41% from the previous year.
The Michigan Gaming Control Board reported the figures Monday, explaining that internet casino gaming generated $1.58 billion in gross receipts, and internet sports betting produced $399.58 million.
After deducting the cost of free play incentives provided to and waged by bettors, the revenue for the year came to $1.65 billion, which was 47.8% higher than in 2021, the agency stated in a Monday press release. The total money wagered for 2022 was $4.6 billion compared with $3.7 billion recorded in 2021.
“Online casinos in Michigan finished the year incredibly strong, eclipsing $1.5 billion in revenue in 2022,” Paul Costanzo, lead analyst for PlayMichigan, said in an email Monday. “The growth each month was steady throughout the year, but it managed to take off even more down the stretch with three straight record months, which bodes well for the future of the industry.”
“While sports betting in Michigan isn’t seeing the same type of growth, it is still proving to be a big source of revenue for operators and tax revenue for the state,” Costanzo continued. “December numbers were certainly buoyed in the state by the Detroit Lions making a push for the playoffs, and the Michigan football team playing for a Big Ten title and in the College Football Playoff.”
The tribal and commercial operators made $302.98 million in taxes and payments to the state last year, according to the Michigan Gaming Control Board, including:
Internet gaming state taxes and payments: $289.24 million
Internet sports betting taxes and payments: $13.74 million
Tribal operators also reported making $32.83 million in payments to tribal governing bodies.
And the three Detroit commercial operators reported paying the city $84.57 million in wagering taxes and municipal services fees during the year including:
Internet gaming taxes and fees: $77.83 million
Internet sports betting taxes and fees: $6.74 million
During December, internet gaming revenue set a Michigan record of $152.8 million, exceeding by 5% the previous monthly record of $145.43 million reported in November, according to the state agency in the release.
Michigan generates nearly $2 billion from online casino games, sports betting
- Advertisment - 