Online casinos in Michigan surged to a new record in January 2023, as reported by the Michigan Gaming Control Board (MGCB). The 14 online casino/online poker licensees in the state earned over $153.6 million in gross revenue, surpassing the previous record of $152.8 million set in December 2022. This marks the fourth consecutive month in which Michigan online casinos have broken their revenue records.
Michigan Online Casinos With Another Remarkable Month
The total of $153.6 million represents a year-over-year increase of 26%, indicating the growing popularity of online gambling among Michigan residents. BetMGM Casino emerged as the dominant player, accounting for 34.3% of the state’s total with $52.8 million in gross revenue.
While February has three fewer days than January, the state’s online casinos could still exceed their performances from February 2022. The 26% year-over-year January uptick suggests that Michigan’s online casinos will continue to flourish, with more revenue records expected to be broken in the coming months.
The growing online casino market has not only provided players with more gaming options but has also created jobs and contributed to the state’s economy. With increasing revenue and expanding customer base, the online casino market in Michigan shows no signs of slowing down.
Online Sports Betting Takes a Hit
While online Michigan casinos continue to surge, online sports betting in the state took a hit in January 2023. According to the latest figures from the Michigan Gaming Control Board (MGCB). The total amount of bets accepted was $475.6 million, down by 4.3% from January 2022. Gross revenue also decreased by 2.9% to $33.6 million.
FanDuel Sportsbook continued its dominance in the state, with $150 million in bets taken and $19.9 million in gross revenue reported in January. This represents 30.1% and 59.2% of the state’s totals, respectively. The decline in online sports betting activity is mirrored by a similar trend in physical sportsbooks.
Michigan’s Gambling Industry
Michigan’s regulated gambling industry saw a successful start to the new year, with total gross gaming revenue from MGCB-regulated channels amounting to $290.6 million in January 2023. This figure excludes revenue from physical slots, sportsbooks, and table games at tribal casinos in the state, which are not regulated by the MGCB.
Detroit casinos experienced a 4% increase in their in-person slots and table games play during the month, leading to total revenue of $103.4 million. The three facilities played a significant role in the state’s overall performance.
The growth in Michigan’s regulated gambling industry is a testament to the state’s commitment to expanding its gaming offerings and boosting its economy. As the market continues to evolve and expand, Michigan’s gambling operators are well-positioned to capitalize on the increasing demand for online gaming and sports betting.
