Michigan Internet Gaming and Sports Betting Operators Report $185.8 Million in May

During the month of May, Michigan’s 15 online casino operators brought in $150.6 million in revenue. The figure represents a 5.5% drop from April’s revenue of $159.4 million.

With the addition of online sports betting, total online gaming gross receipts totaled $185.8 million. 

Although casino numbers are less month-over-month, the state of Michigan is still experiencing year-over-year growth in the online casino market. Last May, for example, online casino operators brought in $127.4 million in revenue. The $150.6 million in revenue this May is an 18.1% increase compared with May 2022. 

Revenue Overview

Revenue numbers were released by the Michigan Gaming Control Board (MGCB) on June 20th. The press release details how the combined internet gaming and sports betting gross receipts totaled $185.8 million. Online sports wagering accounted for 18.9% of the total revenue, translating to $35.2 million. Online casino gambling accounted for the remaining 81.1%, or $150.6 million. 

Adjusted gross receipts totaled $157.5 million. In May, $135.5 million was generated from internet gaming and $22.0 million from internet sports betting. The two figures are slightly lower than April’s revenue results, a 5.5% and 10.2% decrease, respectively. Compared with May 2022, online casinos experienced an 18.1% increase, while online sports wagering operators experienced a 2.0% decrease. 

Online Sports Wagering

• Total sports betting handle for May: $288.3 million
• Total gross sports betting receipts for May: $35.2 million (3.0% decrease month over month)
• Total adjusted revenue for May: $22.0 million (2.0% decrease year over year)
• Top online sportsbook by revenue: FanDuel with $18.0 million

Online Casino Gaming

• Total gross online casino gaming receipts for May: $150.6 million (5.5% decrease month over month)
• Total adjusted online casino gaming revenue for May: $135.5 million (18.1% increase year over year)
• Top online casino by revenue: BetMGM with $47.4 million

FanDuel Maintains Aggressive Hold

Every month this year, FanDuel has managed to keep its hold above 11%. In May, the popular sports betting brand maintained a 17.2% hold, the best monthly hold percentage of any sportsbook this year in Michigan. The next closest sportsbook in that lineup was the Eagle sportsbook which experienced a 14.8% hold last month. Even in February, when every other online sportsbook in Michigan was below a 9.6% hold, FanDuel managed to hold 11.0%. The same is true for January, when FanDuel experienced a 13.1% hold, while the other 14 sportsbooks in the state saw an average hold of just 4.9%. 

Tax Revenue Overview

Online casino tax revenue continues to grow in Michigan. The lifetime online casino tax revenue reached $899.1 million last month. Experts believe the state will cross the $1 billion tax revenue mark by August. Michigan’s gambling industry, as a whole, continues to generate nearly $2 billion in annual tax revenue for the state. 

• Online casino tax payments from May: $39.8 million
• The state of Michigan collected $28 million
• Local entities received $10.4 million from May

Online Casino Brand	Retail Casino Partner	Revenue	Taxes	Promos
BetMGM	MGM Grand Detroit	$47,397,075	$12,477,280	$4,739,708
FanDuel	MotorCity	$29,952,090	$7,884,888	$2,995,209
DraftKings	Bay Mills	$26,996,591	$8,078,730	$2,699,659
BetRivers	Little River Band of Ottawa	$8,704,205	$2,193,460	$870,421
Golden Nugget	Keweenaw Bay	$6,957,287	$1,753,236	$695,729
Caesars	Grand Traverse Band of Ottawa and Chippewa	$6,945,931	$1,750,375	$694,593
WynnBet	Sault Ste. Marie Tribe of Chippewa	$4,982,746	$1,255,652	$498,275
Four Winds	Pokagon Band of Potawatomi	$3,689,233	$929,687	$368,923
Barstool	Greektown	$3,334,218	$877,733	$333,422
Fox Bet	Little Traverse Bay Bands of Odawa	$2,994,496	$737,549	$299,450
Eagle	Saginaw Chippewa	$2,457,866	$563,778	$245,787
betParx	Match-E-Be-Nash-She-Wish Band of Pottawatomi	$1,734,784	$353,836	$173,478
FireKeepers	Nottawaseppi Huron Band of Potawatomi	$1,554,171	$351,687	$155,417
SI	Hannahville	$1,495,455	$292,264	$149,546
PointsBet	Lac Vieux Desert Band of Lake Superior Chippewa	$1,363,223	$269,918	$136,322

Mac Daniel is a writer for PlayOnlineCasino and PlayOnlineSportsBetting. He has experience writing about a wide variety of topics, including healthcare, tourism, non-profit organizations, and most recently casino and sportsbetting news. To check out more of his work, visit: playonlinemichigan.com