Michigan Sees $175.4 Million Revenue In August From Sports Wagering And iGaming

The revenue for August 2023 when it comes to Michigan sports betting and Michigan online casinos was strong, totaling $175.4 million.

While sports betting is definitely popular in the Wolverine State, it was online casinos that led the way with 87.7% of the total gambling revenue. Although the gambling revenue totals were slightly lower than the previous month, the overall handle and revenue for sports betting alone increased from month to month.

Michigan Collects $175.4 Million In Revenue From iGaming and Sports Wagering

The month of August was a strong one for the Michigan betting scene, with $175.4 million coming in from sports betting and online casino gaming. While this is definitely a large number, it’s 0.4% lower than the totals from July of 2023.

While Michigan sports betting contributed to the revenue totals, Michigan’s online casino industry was responsible for the majority of the numbers. Michigan iGaming represented 87.7% of the total August 2023 revenue with $152.2 million in gross receipts.

This towers over sports betting gross receipts, which combined to total $23.2 million. Plus, Michigan iGaming saw a 16.8% increase in adjusted gross receipts compared to August of 2022.

Michigan Sports Betting Handle Up 8.8% In August

While sports wagering revenue was definitely overshadowed by iGaming in the month of August, the total handle for sports wagering in the state of Michigan saw an increase. Bettors wagered 8.8% more on sporting events throughout the month of August, with $228.4 million compared to July’s $208.8 million.

And while total gambling revenue was down 0.4% month over month, Michigan’s sports wagering industry saw a 2.1% increase from July’s $22.9 million to August’s $23.4 million.

This jump could be correlated with the Detroit Tigers regular season, as the team was still in competition for the postseason. However, the Tigers have since been eliminated from playoff contention with the Minnesota Twins taking the AL Central division.

Three other popular teams in the state kicked off their football seasons in September: the Detroit Lions, Michigan Wolverines, and Michigan State Spartans. Especially considering the hype surrounding the start of the Lions season, with a primetime win to kick off the season, the handle numbers should see yet another jump in September.

For reference, 2022 saw a 66.7% handle increase from August to September. This highest handle in the history of Michigan sports betting was the $532.6 million wagered in October of 2022.

Michigan Online Betting Nearing Three Year Anniversary

Online betting saw a major launch in Michigan on January 22, 2021, when both online casino apps and mobile sportsbooks went live. Major betting operators like DraftKings, FanDuel, BetMGM, Golden Nugget, Caesars, and BetRivers began launching their online sportsbooks and iGaming sites in the area. The area is one of just five U.S. states to allow for online casino apps, including West Virginia, Pennsylvania, Connecticut, and New Jersey.

Michigan’s betting scene has been thriving for years now, with online sports betting, online casino gaming, retail sports betting, and retail casinos all available in the state.

There are plenty of popular physical casinos in the state such as MGM Grand Detroit, Hollywood Casino at Greektown, Soaring Eagle Casino & Resort, and Little River Casino Resort.