Record Michigan Online Gaming Revenues in July 2023

DETROIT, Sept. 5, 2023 /PRNewswire/ -- Michigan, the tenth largest in the nation by population, has once again shown its prowess in the realm of online gambling. Oddsseeker.com is thrilled to share the latest chapter in Michigan's digital wagering journey.

July 2023 witnessed a resounding crescendo in online sports betting and casino gambling revenue. The surge was not only visible when comparing the numbers to the same month in 2022, but also when juxtaposed with the preceding month, June 2023.

The heartening rise in gross receipts unfolded like a saga of triumph. Within Michigan's borders, sportsbook and casino operators rang in a notable figure of $176.1 million in July. This number unfurled an impressive 18.8 percent increase when contrasted with the same month in the prior year. Adding to the crescendo, the state marked a month-on-month upswing of 4 percent, tallying up a robust $169.3 million in total revenue for June 2023. These positive results not only rekindled hope but also halted a three-month decline of online gambling in Michigan.

Delving into the specifics, online casinos emerged as true stars, amassing gross receipts of $153.6 million in July. This marked a dazzling 21.3 percent surge from the corresponding month in 2022 and a commendable 1.7 percent rise from the June 2023 figures.

In the field of online sports betting, the story was equally promising. July's gross receipts reached $22.5 million, showcasing a commendable 4.2 percent year-on-year growth and a remarkable 23 percent leap from June 2023. However, a shadow cast itself as the handle experienced a decline of 10.8 percent, dropping from $225 million in July 2022 to $200.8 million in July 2023. Additionally, the spending aspect noted a slight decrease—11.9 percent lower in July 2023 compared to the preceding month.

Beyond the surface numbers, the metric of adjusted gross receipts unveiled a more nuanced story. This parameter, accounting for promotional endeavors by operators, showcased an impressive surge. The combined adjusted gross receipts for iGaming and sports betting reached $154.6 million in July, soaring 17.8 percent above the previous year and a notable 5.8 percent beyond the figures of June 2023.

A look at the revenue numbers year-to-date;

As the pages of this narrative turned, online casinos emerged as true victors, boasting adjusted gross receipts of $138.2 million—an 18 percent surge from the same month in the prior year. Meanwhile, sports betting operations, while trailing behind, proudly generated adjusted gross receipts of $16.4 million. This figure, though lagging behind, still boasted a commendable 77.5 percent increase from the records of July 2022.

Turning attention to the realm of taxation, the state's licensed operators fulfilled their fiscal obligations with finesse. July saw contributions of $29.8 million in taxes. Within this, casino tax accounted for $28.7 million, while sports betting tax stood at $1.1 million. Adding to the support of Michigan's economic landscape, the trio of commercial casinos in Detroit also honored their commitment, contributing $7.6 million in online taxes directly to the city. Tribal operators chimed in as well, contributing a notable $3.5 million to the state's coffers during July 2023.

In a world where numbers often tell stories, Michigan's tale of digital gambling resurgence stands as a testament to the state's unwavering spirit and its promising journey in the realm of online gaming

For more information, visit https://www.oddsseeker.com. Data referenced from the MGCB.

About OddsSeeker: OddsSeeker.com is a leading source for iGaming news, online games, and online casino & sports betting promotions in the U.S. regulated online gaming markets.

SOURCE Odds Seeker

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED