December’s figures show that in the debut year, online sports betting in Michigan hit $4bn in wagers.
US.- Michigan has released its figures from online casinos and sportsbooks from December. For the last month of the year, Michigan’s sportsbooks and online casinos generated over $500m in sports wagers and more than $120m in online casino revenue.
According to PlayMichigan, which tracks gaming across the state, Michigan’s online sportsbooks hit $4bn in wagers last year, while online casinos generated over $1bn in gross gaming revenue. In its debut year, Michigan joined New Jersey and Pennsylvania as the only three states to generate more than $1bn revenue annually.
Matt Schoch, lead analyst for PlayMichigan.com said: “Bettors fared much better on their bets than in November, but it was still one of the best months yet for Michigan’s sportsbooks. Online sports betting and casinos hit the higher side of expectations in their first year, particularly online casinos. And the last four months for sports betting have really added an exclamation point to the first year.”
December’s figures from online sportsbooks showed a record $484.6m in bets, topping the $473.8m wagered in November. Combined with $30.1m in retail wagering at Detroit casinos announced last week, Michigan’s online and retail sportsbooks together took $514.6m in bets, up 2.8 per cent from the previous record of $500.5 m in November.
The Michigan Gaming Control Board reported that online operators won $34.8m in gross revenue in December, down 35.8 per cent from the record $54.1m in November. With $1.2m in retail revenue, Michigan’s sportsbooks won $35.9m for the month, down 38.9 per cent from $58.8m in November. Taxable revenue for both online and retail wagering reached $12m, yielding $1.2m in taxes.
DraftKings was the number one operator in the state in December, with $120m in online wagers
Michigan started taking online sports betting and online gaming in January of 2021, in the first year sportsbooks generated $3.97bn in online and retail wagers, $319.5m in gross revenue and $13.6m in state taxes.