Michigan Gaming Control Board<\/strong><\/a>. That produced $13.3 million in total gross sports betting receipts. Promotions whittled taxable revenue down to a combined loss of $5.2 million, yielding $111,696 in state tax revenue.<\/p>\nCombined with January’s retail sportsbook handle, Michigan’s sports betting handle hit $150.8 million. That makes Michigan the highest total monthly handle for a state debuting online sports betting in U.S. history.<\/p>\n
In all, online sports betting accounted for 76.3% of the state’s handle.<\/p>\n
“There is no questioning the power of online sports betting at this point,” said Matt Schoch, analyst for PlayMichigan.com<\/strong>. “January was just a snapshot, but online betting will eventually account for 90% or more of the state’s total handle, which would put it much more in line with other legal jurisdictions that offer both online and retail betting.”<\/p>\nMichigan got off to a quick start in large part because it launched on Jan. 22 with 10 online sportsbooks. That list includes the nation’s two largest operators FanDuel and DraftKings, as well as its main challengers.<\/p>\n
FanDuel\/MotorCity Casino<\/strong> topped the market with $32.6 million in online wagers. That produced just $622,372 in gross sports betting receipts. DraftKings\/Bay Mills Indian Community was second with a $28.2 million handle, yielding $3.4 million in gross receipts.<\/p>\n“Launching with 10 operators ready to go from the beginning is unlike anything else we’ve seen before,” Gouker said. “Having FanDuel and DraftKings, in addition to BetMGM, BetRivers, and Barstool, accepting bets on the first day of operation makes Michigan instantly one of the most competitive markets in the U.S. The vastness of choices is great for consumers, obviously. But it shows just how much confidence operators have in the future of the Michigan market.”<\/p>\n
Online gaming<\/p>\n
Online casinos and poker tallied $29.4 million in gross receipts, or $2.9 million per day in gross receipts, more than any other in U.S. history in online casino gaming’s first month. That yielded $4.3 million in tax revenue in its 10-day debut in January.<\/p>\n
The BetMGM\/MGM Grand Detroit easily led the market with $11.1 million in gross receipts.<\/p>\n
“Online sportsbooks draw more attention, but online casinos are typically a far more consistent revenue generator for state governments,” Schoch said. “With nearly $30 million in 10 days, Michigan is well on its way to becoming one of the giants in online gaming.”<\/p>\n<\/p><\/div>\n\n