
Michigan is witnessing a dynamic trend in its online gambling landscape, with operators raking in a record $264.2 million in gross iGaming and sports betting receipts for December 2024. Yet, this figure reveals a contrast in performance: while iGaming reached its highest peak to date, gross sports betting receipts took a steep decline, as reported by the Michigan Gaming Control Board (MGCB). Specifically, iGaming gross receipts hit $244.0 million, topping the former record of $226.0 million set the previous month, while sports betting gross receipts plunged to $20.2 million from November's $58.3 million.
In terms of adjusted gross receipts (AGR), which accounts for promotional spending and other deductions, the December tallies paint a perplexing picture. iGaming AGR leaped by 8.0% to $219.6 million, overshadowing a drastic dip in sports betting AGR, which crumbled by 99.3% to a mere $267,881. The sports betting decrease is particularly stark when placed against November's performance, according to Michigan Gaming Control Board data.
Moreover, the volume of wagers, or the monthly handle, for internet sports betting witnessed a reduction of 8.1%, moving from November's $650.2 million to $597.7 million in December. This turn of events mirrors the overall downward trend in the sports betting segment, while the iGaming sphere continues to exhibit robust growth.
The taxation and payments landscape resulting from these activities presents its own set of figures. In December alone, the state collected $46.1 million in taxes and payments, with iGaming contributing the lion's share at $45.9 million. The contribution from sports betting was significantly smaller, at $214,291, reflecting the contraction of the segment's adjusted gross receipts. In a similar vein, the City of Detroit received $11.4 million in taxes and municipal services fees, entirely attributed to iGaming, as the adjusted gross receipts for sports betting from the city's casinos were in the negative, resulting in no tax liability.
An overall look at 2024 reveals that Michigan's commercial and tribal operators have hit a combined total of $2.9 billion in iGaming and sports betting gross receipts — a 23.8% jump from 2023. AGR shows a 22.3% rise to $2.4 billion, demonstrating sustained interest and growth in the online gaming sector within Michigan. The state benefited from $466.1 million in taxes and payments throughout the year, and tribal operators made $55.3 million in payments to governing bodies,
As the online gaming landscape continues to evolve, Michiganders show a clear predilection for iGaming. With 15 operators now authorized for iGaming and/or internet sports betting, it's evident that the industry is expanding rapidly, providing both entertainment for users and crucial revenue for the state.