Michigan Gaming Industry Reports Robust August Figures
Michigan has released financial reports for its online gambling and sports betting industry in August, showing an impressive year-over-year growth.
Operators paid taxes amounting to $37.7 million to the state in August.
LISTEN TO THIS ARTICLE:In August, the state's combined revenue from iGaming and sports betting reached $224 million. The latest figures reveal a year-over-year increase, jumping by nearly $50 million compared to August 2023.
As usual, iGaming contributed the largest gross receipts at $196.6 million, while sports wagering receipts amounted to $27.4 million.
During the month, players wagered a total amount of $280.1 million on sports bets online. The handle was up $60 million from the same month last year.
Of the total, iGaming and internet sports betting sectors collectively generated adjusted gross receipts (AGR) of $193.2 million in August. While $176.9 million came from iGaming, online or mobile sports betting contributed $16.3 million.
In August, operators paid taxes amounting to $37.7 million to the state. iGaming accounted for $36.9 million in taxes and fees, and $0.8 million came from internet sports betting.
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MGCB's Responsible Gaming Efforts Pay Off
Earlier this month, Michigan's gaming regulator, the Michigan Gaming Control Board (MGCB), won an Emmy award for its "Don't Regret the Bet" responsible gaming initiative.
Launched last year, the campaign was aimed at preventing gambling problems and reducing the number of Michigan residents experiencing severe gambling addiction.
The award recognized the campaign's excellence in the Graphic Arts- Motion Graphics category and was awarded by the National Academy of Television Arts & Sciences.
In response to the thriving gaming sector in Michigan, the state has also allocated additional funds to support the MGCB's regulatory work. In June, the Michigan Legislature earmarked $1.9 million in the state's fiscal year budget to specifically cater to adding 14 full-time staff members to the MGCB.
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