Michigan’s online gambling industry continues to grow as adjusted gross revenue (AGR) for iGaming and digital sports betting increased 3.2% combined in July compared to June. In addition, AGR for online gambling increased 24.7% and that for sports betting increased 5.2% compared to July 2023, according to the Michigan Gaming Control Board (MGCB), which released its results on Tuesday (Aug. 20).
But the big news was the betting profit. According to the Sports Handle revenue database, digital sportsbooks posted a win rate of 11.3% in July, the fourth consecutive month of double-digit profit. That’s the second-highest profit since the digital operators launched in January 2021.
The most successful month for operators was September 2022 – the second football season in which digital betting was live. During this month, operators retained 13.15% of revenue.
In total, commercial and tribal operators of online gambling in Michigan recorded gross revenue of $220.9 million (£169.4 million/€198.4 million). Michigan has three land-based casinos in Detroit, as well as nine tribal casinos across the state. There are 12 mobile sportsbooks.
Online Casino Results
In July, Michigan online gambling operators generated gross revenue of $191.4 million, compared to $183.2 million in June. July AGR was $172.3 million, an increase of 24.7% compared to July 2023.
The state’s 15 iGaming operators paid $36 million in taxes to the state.
BetMGM (MGM Grand) and FanDuel (MotorCity Casino) ranked first and second in terms of gross revenue. BetMGM recorded $50.7 million in gross revenue and FanDuel $46.7 million. DraftKings (Bay Mills Indian Community) ranked third with $37.1 million in gross revenue.
Sports betting
Gross sports betting revenue was $29.4 million in July, compared to $30.9 million in June. Wagering average was 11.2% in June. AGR from online sports betting was $17.2 million, up 5.2% from July 2023. Digital revenue was $250.2 million in July 2024, down from $276.8 million last month and up from $200.8 million in July 2023.
Digital sports betting operators paid $1.1 million in taxes.
FanDuel, in partnership with MotorCity Casino, remained the market leader, generating $93.4 million in wagering on an average annual revenue of $8.3 million. DraftKings, in partnership with the Bay Mills Indian Community, came in second with revenue of $69.7 million and an average annual revenue of $5.9 million. The next operator was BetMGM with revenue of $33.6 million, but it spent $4 million on advertising, resulting in an average annual revenue of $188,016, well below its competitors.
Fanatics (revenue: $13.6 million) ranked fourth in revenue and sales, edging out ESPN Bet (revenue: $13.2 million).
Casinos in Detroit
Detroit’s three commercial casinos reported combined annual revenue of $106.3 million, with MGM Grand leading the way at $51.3 million. MGM Grand, Greektown Casino and MotorCity Casino paid a combined $8.6 million in taxes to the state and $12.6 million to the city.
According to the Michigan Gaming Control Board, retail casinos recorded $399,229 in revenue from sports betting in July. Overall, they had positive total revenue of $105.9 million, including $106.3 million from table games and slot machines.
MGM secured 48% market share, followed by MotorCity (29%) and Hollywood Casino at Greektown (23%).
