The gross receipts from online gambling and online casino games in Michigan reached $1.98bn by 2022. This is a 41.4% increase year-on-year.
The total yearly gross receipts, which include both tribal and commercial operators, was comfortably higher than the $1.40bn figure that was posted in the first year of legal online gaming in Michigan in 2021.
Online casino gaming accounted for $1.58 billion, while online sports betting accounted for $399.6 million in gross receipts.
Internet casino gaming generated gross receipts of $1.58 billion, while internet sports betting brought in $399.58million. The year’s total handle jumped 24.3%, to $4.60bn.
The combined total adjusted gross receipts (which also include promotional spending) was $1.65bn. This represents a 47.8% increase year-over-year. This includes $1.43bn in adjusted internet gaming receipts, and $219.6m for sports betting.
In 2022, $303.0m was paid to the State of Michigan by tribal and commercial operators.
The annual online gambling performance was published after it was revealed earlier this month that Detroit’s three commercial casinos saw a decrease in revenue year-over-year for 2022. This included revenue from both slots and table games, as well as sports betting.
The revenue for the twelve months ended December 31, 2022 was $1.28bn. This is 1.4% less than the $1.29bn recorded the previous year. The market’s 77% share was made up of slots, which generated $983.7m in total revenue. Next came table games, which earned $273.3m (21%), and sports betting, which brought in $18.8m (2%)
December is a record month for igaming
Let’s now turn to December’s online gambling market performance. The gross receipts from internet betting and internet casinos games for the last month of 2022 were $201.6m. This is an 8.2% increase over November 2022.
The state’s December gross receipts for igaming were $152.8m, which is a new record. However, the adjusted net receipts for online gambling reached $137.5m.
Let’s turn to sports betting. Although a gross receipts number from this market was not disclosed by the company, adjusted gross receipts were $30.8m and handle for the month was $478.7m.
The state’s licensed operators paid $30.4m in taxes during the month.