The first full month of legal iGaming operations in Michigan produced eye-popping online casino revenue numbers. The February reports from the Michigan Gaming Control Board showed mobile casinos earning just under $75.2 million in February.
Online sports betting posted a net loss in February, as welcome bonuses and other customer acquisition promos counted against revenue for the state’s 11 online sportsbooks. Mobile betting handle came in at over the $300 million mark in February, however, as Michigan bettors turned up in big numbers to place online bets in February.
Michigan Online Sports Betting Revenue February 2021*
|MI Sportsbooks||Casino Partner||Online Betting Handle||Gross Sports Betting Receipts||Adjusted Gross Sports Betting Receipts||Internet Sports Betting State Tax**|
|FanDuel Sportsbook||MotorCity Casino Hotel||$87,219,772||-$78,889||-$5,399,479|
|BetMGM||MGM Grand Detroit||$75,743,280||$5,317,546||$2,448,688||$140,841|
|DraftKings Sportsbook||Bay Mills Indian Community||$72,938,905||-$161,496||-$5,077,961|
|Barstool Sportsbook||Greektown Casino Hotel||$40,281,772||$1,894,529||-$1,302,825|
|PointsBet||Lac Vieux Desert Band of Lake Superior Chippewa Indians||$6,951,264||$1,105,629||-$532,004|
|FOX Bet||Little Traverse Bay Bands of Odawa Indians||$5,782,918||$641,864||-$126,779|
|William Hill||Grand Traverse Band of Ottawa and Chippewa Indians||$5,556,595||$449,317||$16,651||$1,399|
|BetRivers||Little River Band of Ottawa Indians||$3,593,987||$120,307||-$444,032|
|TwinSpires||Hannahville Indian Community||$1,897,812||-$18,098||-$277,366|
|WynnBET||Sault Ste. Marie Tribe of Chippewa Indians||$1,380,374||$128,581||-$63,170|
|Golden Nugget Sportsbook||Keweenaw Bay Indian Community||$497,693||$69,788||-$11,643|
|Four Winds Sportsbook||Pokagon Band of Potawatomi Indians||$12,680||$3,840||-$4,860|
**tribal casinos pay 8.4% state tax; commercial casinos pay 5.88% state tax and 2.62% city tax
A three-way battle for Michigan’s top online sportsbook market share spot developed among FanDuel Sportsbook, BetMGM, and DraftKings Sportsbook in February. The three sportsbooks combined to account for 75% of betting handle share in February.
Only BetMGM and William Hill turned a profit in February, but the negative revenue trend should turn around sooner than later for Michigan’s online sportsbooks. Barstool Sportsbook took the No. 4 spot on the February betting handle share rankings, while several other brands compete for smaller shares of the Michigan pie.
Michigan only takes state tax from net positive sports betting revenue earnings. As a result, only BetMGM and William Hill contributed to the $142,240 online sports betting tax taken by the state in February.
Michigan Online Casino Revenue February 2021*
|MI Online Casinos||Casino Partner||Adjusted Gross Receipts||Online Casino State Payment**|
|BetMGM||MGM Grand Detroit||$36,813,468||$7,215,440|
|FanDuel Casino||MotorCity Casino Hotel||$14,103,720||$2,764,329
|DraftKings Casino||Bay Mills Indian Community||$13,967,664||$3,128,757
|BetRivers||Little River Band of Ottawa Indians||$5,990,956||$1,328,896
|PokerStars Casino||Little Traverse Bay Bands of Odawa Indians||$4,274,196||$957,420
|Golden Nugget||Keweenaw Bay Indian Community||$3,511,340||$633,881|
|WynnBET||Sault Ste. Marie Tribe of Chippewa Indians||$3,449,005||$650,993
|Barstool Casino||Greektown Casino Hotel||$3,056,425||$530,761
|TwinSpires||Hannahville Indian Community||$1,574,759||$262,541
|Four Winds Casino||Pokagon Band of Potawatomi Indians||$1,561,629||$249,861
|William Hill Casino||Grand Traverse Band of Ottawa and Chippewa Indians||$403,861||$64,618
|PlayGunLake.com||Gun Lake Band of Pottawatomi Indians||$162,083||$25,933|
**online casino revenue taxed at 20-28% based on earnings
The big story coming from the February MGCB reports is the massive success of Michigan’s online casinos. With $75.18 in February revenues, Michigan competes with New Jersey ($93.8 million in February online casino revenue) and Pennsylvania ($77.78 million), the top two mobile casino markets in the nation.
BetMGM reigns as the top choice for online casino gamers in Michigan. The BetMGM MI Casino app earned just under $27 million in February.
The online casino market shapes up as highly competitive in Michigan. Other strong performers in February included FanDuel Casino ($14.9 million), and DraftKings Casino ($13.7 million).
Michigan taxes online casino revenue at a 20-28% tiered rate. Online casinos produced more than $14 million in combined tax revenue for the state in February.