2024 was a record-breaking year for the Michigan online gambling market. Revenues in the state’s online casino and sports betting sectors hit an astonishing $2.9 billion.Michigan Online Gambling Revenue Tops 2.9BN in 2024
This figure indicates a year-on-year increase of 23.8%, cementing Michigan as an online gambling hotspot. Online casino activities led the charge with a revenue total of $2.4 billion. While the online sports betting arm of the market contributed $460.5 million.Michigan Online Gambling Revenue Tops 2.9BN in 2024
Online casino gaming activities in Michigan exploded in 2024, as this side of the MI gambling industry brought a whopping $2.4 billion in revenue for the state. This figure is the highest ever recorded, and represents a 26.3% increase on the total revenue for 2023. Adjusted receipts also reached all-time high thresholds of $2.2 billion, indicating a 27.2% increase.Michigan Online Gambling Revenue Tops 2.9BN in 2024
Michigan’s online gambling industry continues to put the spotlight on certain brands. For context, BetMGM and MGM Grand Detroit came in first, with joint gross receipts valued at $640.1 million. Adjusted receipts for both casinos came in at $576.9 million.
Hot on their heels were FanDuel and MotorCity Casino. Both destinations brought in a gross and adjusted receipt total of $614.6 million and $552.8 million, respectively.
Next on the list were DraftKings and the Bay Mills Indian Community. Collectively, they brought in $454.7 million in gross receipts and $409.6 million in adjusted receipts.
The Michigan online betting market also impressed with $460.5 million in gross sports betting receipts in the 2024 calendar year. This represents a 9.5% increase over the previous year’s figures.
However, adjusted gross receipts took a 13.0% plunge, down to $194.4 million. These contradictory outcomes just goes to show how volatile the Michigan sports betting market is, especially in the face of popular events where outcomes are unpredictable.
Despite adjusted receipts taking a dive, bettors spent a total of $5.3 billion at Michigan online betting sites. This represents a 15.2% percent increase from 2023. The state also witnessed an 8.69% hold in 2024.
Regarding the list of Michigan sportsbooks that made the most in 2024, FanDuel and MotorCity Casino came out on top. These two sportsbooks declared a combined $202.4 million in gross receipts off a $2 billion handle, resulting in a hold of 10.36%.
Coming in close behind were DraftKings and Bay Mills Indian Community, posting gross receipts totaling $125.5 million on a handle valued at $1.5 billion, indicating a hold of 8.33%.
Finishing a close third were BetMGM and MGM Grand Detroit. Both brands recorded a revenue of $65.8 million, with a handle worth $757.0 million, bringing an 8.69% hold. However, this partnership witnessed an adjusted gross receipt dip of $14.3 million year-on-year.
Taxes remain static in the Michigan online gambling market. In 2024, operators paid taxes worth $466.1 million to the state of Michigan. While online casino taxes totaled $451.4 million, those tied to online sports betting brands coughed up $14.7 million.
According to the Michigan Gaming Control Board, 2024 ended on a high, as December gross receipts hit a mind-blowing $264.2 million. This number was 7.1% lower than the figures for November; nonetheless, it represents a year-on-year boost of 9.0%.
Adjusted gross receipts for December came in at $219.9 million. While this represents a 10.8% year-on-year rise, it’s still 8.5% lower than recorded figures for November 2024.
Despite the dip, December showed the dominant nature of the Michigan gambling industry. Casino gross receipts hit the $244 million ceiling. This number broke all pre-existing records in the state.
However, the sports betting sector had gross receipts of $20.2 million. This is a 66.9% year-on-year dip and 65.4% lower than November. These figures point towards a challenging trend in this sector of the MI gambling market.
The Michigan online gambling industry has certainly hit a purple patch, achieving revenue figures of $2.9 billion. However, while casino-related activities hit record highs, the reverse is the case for the online sports betting industry.
This sportsbook sector is clearly hurting, with a year-on-year dip surpassing the 66% mark. Although the casino side of the industry is offsetting the effect felt in the sports betting sector, no one knows how long this trend might last.
