Michigan iGaming sales hit record high in 2023
Entering 2024, Michigan's commercial and tribal operators rebounded on the momentum of 2023.
In 2023, iGaming and sports betting combined revenue reached a record $2.3 billion. That’s more than 18% higher than the revenue generated in 2022 and well above the $1.4 billion in 2021, the first year of legal gambling.
The Michigan Gaming Control Board (MGCB) states that by 2023, total iGaming revenue will be $2.3 billion, total sports betting revenue will be $1.9 billion, and total sports betting revenue will be $420.4 million. Both figures were new annual records.
Great Lakes State sports are in the national spotlight in January, with the college football championship game and the Detroit Lions advancing to the NFL's NFC Championship Game this Sunday.
The Michigan Wolverines' first national championship since 1997 is where the big bets come from, and the Detroit Lions are reportedly taking more ahead of championship weekend after getting top ratings on NBC Take more action. The loss to the Tampa Bay Buccaneers was the biggest division game in 30 years.
Internet sports betting transactions in Michigan hit a new record of $583 million in December, up 2.5% from $568.8 million in November. Annual sales in 2023 total $4.6 billion.
Record growth in 2023 thanks to December increase
Michigan’s December gaming revenue hit $181.4 million, its highest monthly total ever and up more than 20% from December 2022. IGaming led the way with record revenue of $181.4 million. Total sports betting revenue reached a new monthly high of $61.1 million.
Total adjusted online gaming revenue increased nearly 30% year over year in December to $198.4 million.
In 2023, Michigan operators paid $36.7 million in taxes, with more than $34.1 million coming from iGaming and $2.6 million from sports betting.
Other business projects
Board members Joni M. Thrower Davis and Andrew T. Palms were reappointed by Gov. Gretchen Whitmer, according to the MGCB.
"I applaud Governor Whitmer's decision to re-appoint Joni and Andrew to the Board of Directors as a testament to their commitment, expertise and valuable contributions to our agency's mission and vision," said Henry Williams, Executive Director of the MGCB Well-deserved recognition.”
Her term ends at the end of 2027.
The MGCB has also taken action against illegal operators in the state and issued cease and desist letters to three online gambling companies allegedly operating illegally.
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Source: www.casino.org
