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Michigan reports October 2023 iGaming and sports betting revenue21 November 2023(PRESS RELEASE) -- Michigan commercial and tribal operators reported a combined $205.3 million total internet gaming gross receipts and gross sports betting receipts in October. Gross receipts decreased 2.4% compared to September results. October iGaming gross receipts totaled $160.3 million and gross sports betting receipts totaled $45 million. In September 2023, iGaming gross receipts were $166.4 million and gross sports betting receipts were $44 million. Combined total iGaming and internet sports betting adjusted gross receipts (AGR) for October were $167.7 million, including $144.2 million from iGaming and $23.5 million from internet sports betting — representing an iGaming decrease of 3.7% and a 25.4% increase for sports betting when compared to September 2023. Compared to October 2022 reported revenues, iGaming AGR was up by 13.9% and sports betting was down by 26.1%. Total internet sports betting handle at $533 million was up by 16.5% from the $457.7 million handle recorded in September 2023. This is the highest internet sports betting handle to date and the first time the total handle has exceeded $500 million. The operators reported submitting $31.9 million in taxes and payments to the State of Michigan during October, including: - Internet gaming taxes and fees: $30.1 million - Internet sports betting taxes and fees: $1.8 million The three Detroit casinos reported paying the City of Detroit $8.2 million in wagering taxes and municipal services fees during October, including: - Internet gaming taxes and fees: $7.5 million - - Internet sports betting taxes and fees: $663,754 Tribal operators reported making $3.7 million in payments to governing bodies in October. An online gaming and sports betting revenue distribution table is available on the agency’s website. As of October, a total of 15 commercial and tribal operators have been authorized to launch iGaming and/or internet sports betting. Currently, 14 commercial and tribal operators offer internet sports betting, and 15 operators offer iGaming.
Michigan reports October 2023 iGaming and sports betting revenue
is republished from Online.CasinoCity.com.
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