Bettors in Michigan are embracing igaming.
In its May report, the Michigan Gaming Control Board reported igaming and sports betting revenue of $114.3 million, with $94.9 million from igaming and $19.5 million from sports betting. The total handle for sports betting was $237.6 million.
“Adjusted gross receipts for internet casino gaming were up two-tenths of a percent compared with April, which means state, city and tribal governments received more revenue,” said MGCB Executive Director Henry Williams in a statement.
Tax revenue from igaming was $18.1 million; from online sports betting $615,153.
Michigan’s total online gambling revenue since legalization on January 22 reached $393.1 million, with $369.4 million in igaming and $23.7 million from sports betting.
BetMGM led all Michigan operators in igaming revenue with $36.1 million, or 38% of the market. FanDuel brought in $16.3 million, with a 17% market share; Draftkings, $15.7 million, also a 17% share; BetRivers, $6.6 million, 7%; FoxBET, $3.8 million, 4%; and Penn National/Barstool Sports, $3.8 million, 4%.
Four operators accounted for 87% of online sports betting revenue. FanDuel led with 30% of market share with a total handle of $71.2 million. DraftKings garnered 28% of the market, with $66.7 million; BetMGM 22%, $51.6 million, and Penn National/Barstool 8%, $18.2 million.
