In 2022, the total gross receipts of internet and sports betting operators and commercial and tribal gaming iGaming reached $1.98 billion. This was a 41% increase over the $1.4 billion reported in gross receipts a year earlier, in 2021.
The breakdown showed that internet sports betting generated $399.6 millions in gross receipts and internet casino gambling generated $1.58 trillion in gross receipts in 2022. The total handle for the last year was $4.6 billion. This was a strong increase compared to the $3.7billion in total handle for 2021.
MGCB reported that combined internet gambling and internet sports betting adjusted gross revenues in 2022 was $1.65 billion. This result is 47.8% higher than the $1.1 billion adjusted gross receipts in 2021.
The MGCB provided a further breakdown. According to the regulator, $1.65 billion equals $219.6 millions in adjusted gross sports betting receipts. $1.43 billion equals adjusted gross internet gambling receipts. The regulator explained that adjusted gross receipts include deductions for the monetary values of free play incentives offered to bettors and wagered by them.
Internet Gambling Operators Record Strong December Results
The MGCB also released data from December regarding the performance and profitability of tribal and commercial internet operators. The total net revenue from internet gambling and sports betting combined reached $201.6 million last month. An 8.2% increase was seen in net gaming revenue last month compared to November’s $186.3 million.
December saw strong growth when we look at total adjusted gross internet and sports betting receipts. Last month’s adjusted gross receipts for tribal and commercial operators were $168.2 millions. This represents a 40% increase year-over-year compared to 2021.
The December total handle saw a slight decline in gross receipts, even though they increased. The handle reported in December was $478.7million, which is a 0.3% decrease compared to December 2021’s result of $480 million.
In 2022, $303 million was paid to Michigan by commercial and tribal tax payers. This sum includes $289.2 millions in internet gaming taxes, payments, and $13.7 million internet sports betting taxes, and payments.