Michigan iGaming Sets Monthly Revenue Record of $153.7M

Must read

[ad_1]

Posted on: February 22, 2023, 12:26h. 

Last updated on: February 22, 2023, 12:41h.

Michigan iGaming revenue reached a new monthly record in January as online casinos operated by commercial and tribal interests won nearly $153.7 million.

Michigan iGaming GGR sports betting sportsbook
A mobile device shows the online BetMGM Sportsbook. Michigan iGaming revenue reached a new monthly record in January 2023 as the interactive gaming sites won almost $153.7 million. (Image: Casino.org)

Tallying $153,694,392.91, officials with the Michigan Gaming Control Board (MGCB) said January’s iGaming haul represents a 27% year-over-year increase from the $121.2 million the online casinos won in January 2022. January 2023 iGaming also beat the state’s previous monthly online gaming record of $152.8 million set in December 2022.

The online operating partners of Detroit’s three brick-and-mortar commercial casinos — MGM Grand Detroit, MotorCity, and Hollywood Casino at Greektown — continued to dominate the internet segments. BetMGM won $52.8 million on its online casino platform in January, while MotorCity’s FanDuel casino generated gross gaming revenue (GGR) of $28.9 million, and Hollywood’s Barstool site won a little more than $4.1 million.

The approximately $85.8 million in winnings account for about 56% of the online casino play. Eleven tribes in Michigan also operated online casinos last month that collectively won about $67.9 million.

The tribal iGaming was led by the Bay Mills Indian Community and the tribe’s Bay Mills Resort & Casino, which is partnered online with DraftKings. The iGaming and sportsbook operator won $26.2 million from its interactive slots and table games last month. The Little River Band of Ottawa Indians and its Little River Casino Resort and iGaming partner Rush Street Interactive was next at about $8.6 million in iGaming proceeds.

Online and Upwards

Commercial iGaming and online sports betting continue to inch closer to Detroit brick-and-mortar casino revenue.

In 2022, Detroit’s three brick-and-mortar commercial casinos collectively generated GGR of $1.28 billion. The retail revenue includes income from slot machines, table games, and in-person sports betting.

Meanwhile, 2022 iGaming from commercial and tribal operators totaled $1.58 billion. Online sports betting added about $400 million for a total online win of roughly $1.98 billion.

The commercial iGaming and online sportsbooks accounted for the bulk of the online revenue. BetMGM, FanDuel, and Barstool won $899.7 million from iGaming and $285 million from internet sports betting for a total online win of $1.18 billion.

Sportsbook Drawback

As for January 2023 online sports betting, oddsmakers fared significantly worse than they did in January 2022. The MGCB said net win — aka “hold” — dropped more than 31% from $48.8 million in January 2022 to $33.6 million last month.

Handle, or the total amount wagered, fell 4.3% year-over-year to $475.6 million.

The three commercial online sportsbooks won $23.2 million. MotorCity’s FanDuel Sportsbook was responsible for $19.9 million of the win on total wagers in excess of $150 million.

BetMGM kept $3.4 million of the $110.5 million bet during the month. Hollywood’s Barstool Sportsbook reported a net loss of about $66K on $29.5 million bet.

January was the first month when Michigan faced sports betting competition in neighboring Ohio. Retail and online sportsbooks in the Buckeye State went live on January 1.

iGaming and online sportsbooks generated $26.1 million in state taxes and payments in January. The City of Detroit additionally collected $7.5 million from the online commercial gaming platforms.

[ad_2]

Source link

More articles

- Advertisement -spot_img

Latest article

game penuh kemenangan slot lucky neko banjir wild emasledakan maxwin slot sweet bonanza auto pecah perkalian tinggisistem slot online terbukti gacorcara terbaik memanfaatkan rtp slot onlinelive pola slot terbaru gates of olympusrahasia jitu slot gacormenggunakan arwah masa lalu untuk membantu anda maxwin mahjong waysmenang 35juta pada scatter hitam slot mahjong waysputran spin gila slot mahjong ways 2 langsung pecah scatter sensasionalrahasia bigwin slot starlight princess langsung jadi sultan kayasistem kemenangan maxwin dengan slot olympus 1000 jaminan menang 500 jutasitus gama69 situs terbaru anti boncospola gacor baruy slot fortune tiger gampang pecah wild besargame slot gacor terbaik terpercaya lengkap dengan trik maxwin cara memperkaya diri dengan bermain slot starlight princessbocoran admin yami slot terbaru mudah maxwinadmin jarwo slot gacortrik jitu wd cepat kilatslot super mahjong ways dengan depo minimal 20k gampang maxwinrahasia para pemain bisa menang berkali kali pada slot starlight princess x1000slot anti rungkad bocoran terbarucara jitu bermain slot mudah jackpotrahasia pola slot sweet bonanzasensasi link gacor mudah jp mahjong ways2game slot online terbaruPputaran slot mahjong ways turunkan scatter tanpa bataspola garis 3 scatter hitam mahjong waysmitos dan fakta dari scatter hitam slot mahjong waysgame slot gacor terbaik terpercaya lengkap dengan trik maxwin olympus slotputaran slot mahjong ways turunkan scatter tanpa batasmudah banget maxwin main slot online gates of olympusslot gacor mahjong ways 2 kemanangan maksimal 100 jutatips mendapatkan perkalian jitu slot mahjong wayskemenangan terbesar dari slot jitu super mahjong wayssitus slot anti boncos terbaik di indonesiaslot hoki pembawa berkah slot mahjong ways 2 langsung hoki cair 20 jutapola jitu gampang menang emperor caishenpanduan lengkap meraih maxwin di slot gates of olympus x1000prediksi game slot online terbaruslot super mahjong ways gampang sensasional jackpot terbesartips menang besar dengan pola admin pusat slot gacorlangkah langkah mendapatkan kemenangan besar di slot mahjong wayscara mudah main slot online mahjong ways banjir scatter hitampola populer turunkan slot scatter hitam mahjong secara konsistenteknik jitu modal bet receh slot mahjong ways gampang raih slot scatter hitamjam gacor pasti jackpot besar langsung dari admin jarwo jam jatuh slot scatter hitam aslifitur akhir bulan mei dapatkan hadiah langsung jika berhasil dapatkan scatter hitam langkaslot sensational mochimonslot janji gacor 500 juta cocok untuk mesin slot olympus maniaslot online sweet bonanza 1000 mudah maxwinslot gacor terbaru gates of gatotkaca 1000 dari pragmaticrahasia pekalian beruntun slot wild west goldscatter hitam trend 271trejeki nomplok pada slot gates of olympuspengalaman tak terlupakan ketika maxwin gates of olympusjackpot spektakuler slot gates of olympusstrategi ampuh menang slot olympuspola terbaru bocoran kemenangan slot raging rhino terpercayaslot starlight princess 1000 sudah pasti anti rungkadcara jitu bermain slot onlineprediksi slot online terbarupola jp paus slot starlight princesstips gacor server thailandcucu kakek berbagi maxwin di slot starlight princess x1000jadilah juara di setiap tantangan bersama slot gacor anti rungkadslot gacor paling aman slot gacor anti rungkadslot gacor olympus gampang menang besar dalam 1kali fiturakhirnya kakek turun gunung turunkan petir untuk kemenangan kitabanjir pola scatter hitam mahjong ways terhebohcucu meminta hoki menang dengan kakek zeyuusssgabungan petir dan listrik memecahkan pola x500 princessnaga hitam pembawa rezeky mahjong wayspasti hoki mencari pola dengan bang toyib di slot zeyuspola dari ahlinya slot langsung memberi kemenangan pastiputri cantik dan baik hati pemberi keberuntungan menangsaran dari dukun gondrong di jamin gacor slot princesswajib jackpot pola paling gacor slot mahjong ways