Michigan Online Casinos Shatter Expectations In March

The newest full-scale iGaming industry in the US experienced a month of landmark accomplishments in March. Michigan’s legal online casinos continue to raise the bar, nearly hitting the $90 million mark in March revenue.

Online sportsbooks in Michigan produced net combined profits for the first time, as state platforms appear ready to emerge from the early months of customer acquisition.

The Michigan Gaming Control Board released March online gambling revenue numbers Tuesday, and those figures point to a promising future for iGaming in the state.

MICHIGAN ONLINE SPORTS BETTING REVENUE MARCH 2021*

MI SportsbooksCasino PartnerOnline Betting HandleAdjusted Gross Sports Betting ReceiptsInternet Sports Betting State Tax**
FanDuel SportsbookMotorCity Casino Hotel$107,196,819$4,995,430
BetMGMMGM Grand Detroit$92,629,052
$6,378,487
$375,055
DraftKings SportsbookBay Mills Indian Community
$76,504,589$3,672,966
Barstool SportsbookGreektown Casino Hotel$39,552,903$3,583,819
$134,122
PointsBetLac Vieux Desert Band of Lake Superior Chippewa Indians
$14,192,739-$36,491
William HillGrand Traverse Band of Ottawa and Chippewa Indians
$10,997,415
$127,115$10,678
FOX BetLittle Traverse Bay Bands of Odawa Indians$6,997,278$137,898
$934
BetRiversLittle River Band of Ottawa Indians$4,769,583
-$25,828
TwinSpiresHannahville Indian Community
$3,185,744
-$34,526
WynnBETSault Ste. Marie Tribe of Chippewa Indians$2,249,239$243,420

$15,141
Golden Nugget SportsbookKeweenaw Bay Indian Community
$789,792
$3,056
Four Winds SportsbookPokagon Band of Potawatomi Indians
$385,009
-$64,258
Totals$359,450,162
$18,981,089$535,930

**tribal casinos pay 8.4% state tax; commercial casinos pay 5.88% state tax and 2.62% city tax

Michigan’s online sportsbooks posted net revenue losses in January and February, as free betting credits from pre-launch offers and welcome bonuses count against adjusted gross sports betting receipts.

The state’s dozen mobile sports betting apps appeared to move past the customer acquisition phase in March, however. Michigan’s online sportsbooks posted $18,981,089 in combined revenue, drawing from $359.4 million in mobile wagering handle.

FanDuel Sportsbook cleared the $100 million betting handle mark for March, but BetMGM led all Michigan online sportsbooks in revenue earned in March. As many as 15 different online sportsbooks could eventually operate in the Great Lakes State, and that competitive business model puts Michigan in a position to thrive in the legal US market.

The state collected $535,930 in online sports betting taxes in March. As the sportsbooks turn the corner on net losses accumulated in January and February, the state’s monthly revenue share will continue to climb.

MICHIGAN ONLINE CASINO REVENUE MARCH 2021*

MI SportsbooksCasino PartnerOnline Betting HandleGross Sports Betting ReceiptsAdjusted Gross Sports Betting ReceiptsInternet Sports Betting State Tax**
FanDuel SportsbookMotorCity Casino Hotel$87,219,772
-$78,889
-$5,399,479
BetMGMMGM Grand Detroit$75,743,280$5,317,546$2,448,688$140,841
DraftKings SportsbookBay Mills Indian Community
$72,938,905
-$161,496
-$5,077,961
Barstool SportsbookGreektown Casino Hotel$40,281,772
$1,894,529
-$1,302,825
PointsBetLac Vieux Desert Band of Lake Superior Chippewa Indians
$6,951,264
$1,105,629
-$532,004
FOX BetLittle Traverse Bay Bands of Odawa Indians$5,782,918$641,864-$126,779
William HillGrand Traverse Band of Ottawa and Chippewa Indians
$5,556,595

$449,317
$16,651
$1,399
BetRiversLittle River Band of Ottawa Indians$3,593,987$120,307-$444,032
TwinSpiresHannahville Indian Community
$1,897,812-$18,098-$277,366
WynnBETSault Ste. Marie Tribe of Chippewa Indians$1,380,374
$128,581
-$63,170
Golden Nugget SportsbookKeweenaw Bay Indian Community
$497,693
$69,788
-$11,643
Four Winds SportsbookPokagon Band of Potawatomi Indians
$12,680
$3,840
-$4,860
Totals$301,857,054$9,472,919-$10,774,780$142,240

**online casino revenue taxed at 20-28% based on earnings

Even the most optimistic expectations for Michigan’s iGaming launch probably didn’t forsee the success of online casinos right out of the gate.

Michigan’s mobile casino apps earned $88.7 million in March revenue, putting combined revenue over the $190 million mark so far in 2021. Online casinos are on pace to eclipse the $760 million revenue mark by the end of 2021.

More than one-third of that $190 million aggregate figure comes from BetMGM Online Casino, which has emerged as the top choice for online casino gaming among Michigan players. FanDuel Casino and DraftKings Casino take the No. 2 and No. 3 spots in the state, with an ultra-competitive market emerging in Michigan.

Can online casino revenues keep up this pace as land-based casinos increase capacity in 2021? Even as retail casinos return to business as usual, online casino gaming should retain a significant share of the momentum built so far since the Jan. 22 launch.

The monthly revenue reports from the Michigan Gaming Control Board can be viewed here.

About the Author

Geoffrey Fisk

Geoff Fisk is a San Diego-based freelance writer, specializing in the poker and gambling industries. He’s written for numerous platforms and has traveled the globe as a live poker tournament reporter. Geoff’s interests include the legal online poker industry in the U.S. and abroad.