Michigan Online Casinos Generate Record Revenue Of $132.4 Million In April

April revenue from Michigan online casinos totaled $132.4 million a new monthly record for the state. The previous mark was $131.7 million set in March.

The Michigan Gaming Control Board released data this week in its monthly report, which indicated that gaming operators brought in $163.1 million last month in the state, which includes casino and sports betting revenue. Michigan sports betting accounted for $30.7 million in April, which was down from the previous month when March Madness fueled college basketball wagering.

Compared to the same time frame in 2021, online gaming revenue in Michigan is up 34.4% in 2022, and sports betting has increased by 53.5%, according to the MGCB.

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Sports Betting Handle Was $371.2 Million In April

The total sports betting handle from online wagering in April was down 17.8% from March but still totaled $371.1 million. Much of the action coming from the NBA and NHL. Overall, the total handle for sports betting including retail sports betting was $396 million.

The cumulative total handle from sports betting in Michigan for 2022 is now more than $1.8 billion in four months. In 2021 the state totaled $4.2 billion all year. It’s a given that Michigan will set an annual record for sports betting handle in 2022 as the market continues to grow.

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Statewide Taxes From Gaming Total More Than $25 Million

$25.2 million in taxes and payments were made to the state by online gaming operators in April. Detroit’s retail casinos (MGM Grand Detroit, MotorCity Casino Hotel, and Greektown Casino) generated $7.2 million in tax revenue and other payments from online gambling in April 2022. Statewide, tribal gaming operators report having earned $2.7 million in tax payments from partnering sports betting and casino operators.

The bulk of tax revenue came from online casino activity, with online sports betting accounting for $1.1 million in taxes in Michigan for April. Revenue from internet gaming is subject to a graduated tax rate in Michigan that ranges from 20% to 28%. Operators are allowed to deduct promotional credits given to customers. Revenue from online sports betting is taxed at 8.4%, and sportsbooks are also permitted to deduct the cost of free bets and other bonuses and promotions.

By law, the bulk of tax revenue from casino and sports betting in Michigan is used for educational programs and resources for problem gambling. The Michigan Gaming Control Board has a responsible gaming department that can be reached at 1-888-223-3044, and more information can be found on the state website.

About the Author

Dan Holmes

Dan Holmes is a writer and contributor for Michigan Sharp. He is an accomplished author, who has written three books about sports. He previously worked for the National Baseball Hall of Fame and Major League Baseball. He isn't far from the Michigan action, residing near Lake Michigan, where he lives with his daughters.