Michigan Betting Revenue: Casino & Sports Betting

YTD Casino Revenue: $605,289,280.88

June 2021

May 2021

April 2021

March 2021

February 2021

January 2021

December 2020

November 2020

October 2020

September 2020

August 2020

July 2020

Due to the COVID-19 Pandemic, the 3 Detroit casinos were ordered to close by 3:00 pm on 3/16/2020. The casinos remained closed for all of April, May, and June 2020.

June 2020

Due to the COVID-19 Pandemic, the 3 Detroit casinos were ordered to close by 3:00 pm on 3/16/2020. The casinos remained closed for all of April, May, and June 2020.

May 2020

April 2020

March 2020

February 2020

January 2020

December 2019

November 2019

October 2019

September 2019

August 2019

July 2019

June 2019

May 2019

April 2019

March 2019

February 2019

January 2019

Why Legal Sports Betting Will Boost Michigan Betting Revenue Even More

Michigan currently has 26 casinos in operation across the state. The amount of revenue collected has seen a fairly consistent rise over the last few months, many pointing to proposed Michigan sports betting legislation as a sign of good things to come.

Michigan Gambling History

The first legal betting operations in Michigan began back in 1933 with the passing of the Racing Act. For the next 40 years, betting on horse racing was the only game of chance for Michigan residents. In 1972, Michigan followed the wave of state’s that began a legal lottery.

While charitable gambling was permitted as a result of Act 382 in the same year, casino type gaming facilities did not emerge until the early 1990s. In 1996, Michigan voters approved the construction of three casino facilities in Detroit.

Today there are 26 licensed casinos in Michigan. Each license requires a $50,000 one-time application fee. There is annual revenue of $25,000 generated by reoccurring fees. But, the largest financial windfall for the Michigan is the casino revenue tax.

These are the numbers currently growing in the wake of sports betting interest across the state. Michigan’s legislators were actually pioneering sports betting changes before it became a fashionable trend.

They have envisioned a huge boost in state revenues from sportsbook operations. While there is yet to be an official new law passed, the discussions have been ongoing in chambers over the last five years. March 2019 revenue numbers for Detroit casinos alone are helping to push the state across the sports betting finish line.

Gambling Revenue on the Rise

The first quarter of 2019 has provided sports betting advocates with a huge wave of enthusiasm. Michigan collected $29.7 million in gaming taxes over the first three months of this year. March revenue saw nearly a 25-percent boost in total revenue.

Three Detroit casino facilities contributed over half of this revenue. Each of these three facilities is a front line player in the push for sports betting legislation as well. There is a bill being debated that would propose a $300,000 fee for each sports betting license.

Just the idea of this fee being part of an actual bill, is strong indication of where Michigan sports betting laws are headed. An increase in the tax percentage is also part of recently proposed legislation.

It puts a 9.25-percent tax on all gaming operations, including any proposed sportsbooks. There was a $4 million increase in total annual revenue from 2017 to 2018. Everyone who supports adding sports betting to this equation feels the total revenue for the state will be staggering.

Michigan was an early proponent of sports betting. However, for various reasons, one being a federal law blocking the idea, it has taken a slow road to realization. As lawmakers watch the gradual rise in success by the state’s legal casino industry, the evidence of how profitable sports betting legislation will be, grows increasingly obvious.