Online casinos in Michigan have done it again, setting a record for a fourth consecutive month at $153.7 million in gaming gross receipts in January.
Online sports betting handle was $475.6 million in the month, marking a 4.3% decrease compared to the same period in 2022.
Michigan Online Casino Revenues Continue to Set Records
The 14 online casino operators in Michigan surged past December’s record month and posted $153.7 million in GGR in January. That meant a marginal increase in internet gaming gross receipts of 0.6% compared with December. Dating back to October 2022, the gaming operators have reported record GGR in every month.
As a result of that activity, $24.9 million was paid to the state in the form of internet gaming taxes and payments, according to the Michigan Gaming Control Board. Tax rates range between 20 and 28% in Michigan for online gaming, and commercial and tribal operators pay a slightly different rate.
The top online casinos in Michigan for Jan. 2023:
- BetMGM Michigan (MGM Grand Detroit): $52.8 million in gross receipts
- FanDuel Casino MI (MotorCity Casino): $28.9 million
- DraftKings Casino MI (Bay Mills Indian Community): $26.2 million
- BetRivers Casino MI (Little River Band of Ottawa Indians): $8.5 million
Michigan Online Sports Betting Starts Slow Compared to Previous Year
Compared to the first month of 2022, Michigan online sports betting activity was slower out the gate in January of 2023. But, handle for the month ($475.6 million) slipped only 0.7% compared to December 2022, when it was $478.7 million.
The 4.3% decrease in online sports betting handle in Michigan follows the recent trend in a plateauing market. January was also the first month of legal online sports betting in neighboring Ohio. Residents of the Buckeye state had been known to cross the border and place bets, something that’s no longer necessary.
FanDuel Sportsbook MI led the market in Michigan in Jan. 2023 with $150 million in total handle, followed by DraftKings Sportsbook MI at $117.2 million, BetMGM Michigan at $110.5 million, Caesars Sportsbook MI at $30.8 million, and Barstool Sports at $29.4 million.