Online sportsbooks took in $192.3m in bets, up 2.3% from $188m in July, while retail wagering in August accounted for $16.3m, proving bettors prefer iGaming.
Lead Analyst for PlayMichigan, Matt Schoch, explained one of the reasons: “The promotional offerings and seemingly wall-to-wall advertising that we’ve already seen shows how aggressive Michigan’s operators are and will continue to be over the next couple of months.”
Michigan’s online casinos and poker rooms generated a record of $97.2m in gross gaming revenue (up 5.3% from $92.3m in July); August’s revenue was up to $3.1m in daily bets from $3m per day in wagers over the 31 days of the previous month (this generated $17.9m in state taxes and $6.9m in local taxes).
August’s online market leader was DraftKings with $61.4m in wagers, FanDuel followed with $47.7m in bets, and BetMGM was third in the state with $43.7m. Next were Barstool with $13.1m in handle, Caesars with $10m, PointsBet ($6.2m), BetRivers ($3.1m), Fox Bet ($2.5m), FireKeepers ($1.1m), TwinSpires ($1m) and WynnBet, Golden Nugget, Four Winds and Parx, with under $1m in bets each.
Since its launch in January, Michigan’s online gambling market has generated $672.6m in revenue and $166.6m in state and local taxes.
Eric Ramsey, Analyst for the PlayUSA Network (which includes PlayMichigan) argued: “Michigan’s online casinos continue to grow, and with live dealer games now in the fold, there is no reason to believe that will end soon. For all the interest in sports betting, it is the state’s online casinos that have proven to be the bigger benefit to the state, dwarfing sports betting in tax revenue.”
