Michigan online gaming revenue is back on track after two months of decreasing income. Apart from the revenue rise, Michigan's online gaming revenue has also hit the $1 billion mark.
According to the Michigan Gaming Control Board, the state's online casinos and sportsbooks generated 1$176.1 million in July. This was a 4 percent growth from the previous month.
While there was an overall increase in revenue, the sports sector saw a slight drop. Ideally, bettors wagered around $200 million, which was 11 percent less than in June. Meanwhile, BetMGM maintained its top position for earning the highest revenue.
Online Casino Industry Growth
The online casino industry in Michigan has contributed hugely to the growing revenue. For instance, online casinos contributed over $153 million in July. This was a 21.3 percent growth over last year and a 1.7 percent increase from June.
Meanwhile, the gross sports betting for July was $22.5 million. This was a 4.2 percent year-on-year growth.
In June, sports betting revenue was $18.3 million. This was a 16.8 percent lower compared to July. Meanwhile, the year-on-year growth was 77.5 percent.
FanDuel was the highest earner for July. The sportsbook has partnered with Motor City Casino. They recorded a handle of slightly over $73 million.
DraftKings came second. The sportsbook has partnered with the Bay Mills Indian Community.
Meanwhile, SI Sportsbook by 888 Holdings was the least earner after pulling $360k in handle, earning $17,417 only. The new growth replaces a three-month decline the state experienced.
July was the fourth-highest earning month. In March, the state had generated almost $172 million before going for a three-month decline.
Ideally, Michigan opened the year with an income of $153.7 million for online gambling. This slightly dropped to $148 million in February before hitting $171.8 million in March.
Then, the total revenue declined from $159 million in April to $150 million in May before hitting $151 million in June. This jumped to $153 million in July. Although the August revenue reports are not yet out, it seems Michigan had a strong summer.
Online Casinos Hit the $1 Billion Mark
BetMGM has consistently been the top online casino earner in Michigan. In fact, BetMGM is the only Michigan casino to ever hit the $1 billion mark in terms of revenue.
The top casino generated over $48 million in July, bringing the total for this year to over $354 million. Moto City Casino came second with over $30 million, bringing its total to over $213 million. Bay Mills Indian Community took the third spot with over $28 million, bringing its total to over $195 million.
Michigan has 15 online casinos. In addition to the top three above, there are Greektown Casino, Little River Band of Ottawa Indians, Sault Ste Marie Tribe of Chippewa Indians, Keweenaw Bay Indian Community, Grand Traverse Band of Ottawa and Chippewa Indians, Pokagon Band of Potawatomi Indians, Little River Band of Ottawa Indians, Lac Vieux Desert Band of Lake Superior Chippewa Indians, Soaring Eagle Gaming, Gun Lake Band of Pottawatomi Indians, FireKeepers Casino, and Hannahville Indian Community. Hannahville is the lowest earner, with $1.2 million and $8.2 for 2023.
All casinos have generated $1,088 206 223 in 2023. If the growing trend continues, Michigan's online casino revenue might hit $1.7 billion before the year ends.
