Michigan Posts Big iGaming Numbers in First Full Month
The first month of online sports betting and iGaming produced some eye-popping numbers in Michigan. According to data released by the Michigan Gaming Control Board (MGCB), the state’s regulatory authority.
The MGCB reported that the state’s licensed operators generated $89.2 million in gross receipts in February. That comes after the state’s online gaming operators posted $42.7 million in gross revenues for January. Operators were only online for 10 days at the end of that month.
In February, 11 online casino providers tallied more than $79.7 million in gross receipts and $75.2 million in adjusted receipts. That led to the state receiving $14 million.The 12 mobile sports betting apps reported gross receipts of nearly $9.5 million. Despite an adjusted loss of $10.8 million, the state still received more than $142,000 in tax revenue.
According to the report, Michigan sports bettors wagered nearly $301.9 million in February, which was the highest first-month total for any state.
iGaming operators also had a big month in February. BetMGM took top honors in that division, posting adjusted gross receipts of $26.9 million. FanDuel posted $14.9 million, while DraftKings finished third at $13.7 million.
During last month’s quarterly report, DraftKings CEO Jason Robins raved about the early success the company had in iGaming in Michigan, saying the iGaming handle per capita in the state on Super Bowl Sunday was nearly twice the per capita handle New Jersey, Pennsylvania, and West Virginia iGaming apps had for their first Super Bowl.
“Important to note, these other three states were live an average of 179 days before their first Super Bowl, while Michigan was live for 17 days,” Robins told analysts.