Online Gambling Notches Monster Handle In First Live Days In MI

  • In the first 10 days of legal online and sports gambling in Michigan, the revenue was over $42 million which was a US Record.
  • The tax revenue generated from online and sports gambling provides funding for K-12 students.
  • Michigan has 12 authorized operators for sports betting and online gaming spread out across the state.

DETROIT – Gambling operators in Michigan are off to a roaring start as the gambling receipts for the state after just ten days removed from going live is $42.7 million which is a US gambling record for that period.

The Michigan Gaming Control Board authorized legal online gambling and sports betting on January 22nd. From January 22-January 31 is the period where internet gambling gross receipts totaled $29.4 million and just $13.3 million in online sports bets were taken.

The initial returns have likely exceeded lawmakers’ initial projections and will provide a boost to education funds in Michigan.

“Internet gaming operators are off to a good start in Michigan,” said Richard Kalm, executive director of the gaming control board, said in a statement. “The taxes and payments from online gaming will provide funding for K-12 students, the city of Detroit and Michigan tribal communities.”

One of the biggest reasons Michigan was able to have such a historic launch to its legal gambling sector is that there were already 11 operators ready to go in the market before it launched. Providing numerous betting options as Michigan did set the precedent for other states to follow in their footsteps.

The MotorCity Casino Hotel, which is partnered with FanDuel had the highest handle for January with a $32.6 million bet at the sportsbook. Following behind the MotorCity Casino is the Bay Mills Indian Community who is partnered with DraftKings had $28.2 million in wagers placed with $3.4 million in receipts. The MGM Grand in Detroit finished with the highest total of gross receipts with $5.1 million.

In just a short span of time, Michigan is already reaping the benefits of what legalized gambling tax revenues can bring. In those ten days, Michigan received $4.4 million in taxes. While that pace might not be sustainable it’s hard to argue with the early results of legal gambling in Michigan.

Moving forward expect Michigan to continue to become one of the states with the highest gambling handles and with Detroit, casinos leading the way Michigan could become a top-five betting market in the United States by the end of the fiscal year.

Michigan’s hot start could cool off with the NFL season over but with the NBA, NCAA Tournament, and the MLB all kicking into gear amid the coronavirus this won’t be the last time we hear about Michigan’s gambling economy breaking or setting records.

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