Michigan’s online gambling industry is on the rise, with July igaming and digital sports betting adjusted gross receipts (AGR) increasing by 3.2% compared to June. According to the Michigan Gaming Control Board (MGCB), online gambling AGR saw a 24.7% growth while sports betting AGR grew by 5.2% compared to July 2023, demonstrating the industry’s continued success.
One of the highlights of the recent report was the wagering hold, with digital sports betting operators achieving an 11.3% win rate in July. This marks the fourth consecutive month of double-digit hold for operators and the second-highest hold since the launch of digital betting in January 2021. The most successful month in terms of hold was September 2022, during the second football season of digital betting operations, when operators retained 13.15% of the handle.
In total, Michigan’s online gambling commercial and tribal operators reported a combined $220.9 million in gross receipts. The state is home to three land-based casinos in Detroit and nine tribal casinos across Michigan, with 12 mobile sportsbooks currently operating. In July, online gambling operators in Michigan generated $191.4 million in gross receipts, up from $183.2 million in June. The July AGR was $172.3 million, showing a substantial increase of 24.7% compared to the same month in 2023.
The 15 igaming operators in the state paid a total of $36 million in taxes, contributing to the state’s revenue. BetMGM and FanDuel emerged as the top two operators in terms of gross receipts, with BetMGM recording $50.7 million and FanDuel reporting $46.7 million in gross receipts. DraftKings followed closely behind in third place with $37.1 million in gross receipts.
The gross sports betting receipts for July amounted to $29.4 million, slightly lower than the $30.9 million in June. The online sports betting AGR stood at $17.2 million, showing a 5.2% increase from July 2023. The digital handle for July 2024 reached $250.2 million, down from the previous month but still higher than the figures from July 2023.
FanDuel, in collaboration with MotorCity Casino, maintained its position as the market leader by generating $93.4 million in bets, with an AGR of $8.3 million. DraftKings, in partnership with the Bay Mills Indian Community, secured the second spot with $69.7 million in handle and $5.9 million in AGR. BetMGM, despite having $33.6 million in handle, only attained an AGR of $188,016 due to $4 million in promotional spending.
Fanatics and ESPN Bet also made significant contributions to the online sports betting market, with Fanatics reporting $13.6 million in handle, placing fourth in revenue and handle, just ahead of ESPN Bet with $13.2 million in handle.
The three commercial casinos in Detroit collectively reported an AGR of $106.3 million, with MGM Grand leading the way at $51.3 million. These casinos contributed $8.6 million in taxes to the state and $12.6 million to the city, highlighting the positive impact of the gambling industry on the local economy.
