Michigan iGaming Sets Monthly Revenue Record, Online Sportsbook Win Retracts
Michigan iGaming revenue reached a new monthly track record in Jan as online casinos operated by commercial-grade and tribal interests won nearly $153.7 million.
Tallying $153,694,392.91, officials with the boodle Gaming Control Board (MGCB) said January’s iGaming hale represents a 27% year-over-year step-up from the $121.2 trillion the online casinos won inwards Jan 2022. January 2023 iGaming also shell the state’s previous monthly online gaming tape of $152.8 jillion exercise set inward December 2022.
The online operating partners of Detroit’s III brick-and-mortar commercial casinos — MGM Grand Detroit, MotorCity, and Hollywood Casino at Greektown — continued to master the internet segments. BetMGM won $52.8 zillion on its online casino platform inwards January, spell MotorCity’s FanDuel cassino generated receipts gaming revenue (GGR) of $28.9 million, and Hollywood’s Barstool site won a little to a greater extent than $4.1 million.
The close to $85.8 zillion in profits accounting for most 56% of the online casino play. Eleven tribes inwards boodle also operated online casinos shoemaker's last month that collectively won most $67.9 million.
The tribal iGaming was led past the Bay Robert Mills Red Indian Community and the tribe’s Bay Robert Mills Resort & Casino, which is partnered online with DraftKings. The iGaming and sportsbook manipulator won $26.2 million from its interactive slots and tabulate games last-place month. The Little River Band of Ottawa Indians and its Little River Casino Resort and iGaming partner Rush Street Interactive was next at about $8.6 million inward iGaming proceeds.
Online and Upwards
Commercial iGaming and online sports betting uphold to in closer to Motown brick-and-mortar cassino revenue.
In 2022, Detroit’s troika brick-and-mortar commercial-grade casinos collectively generated GGR of $1.28 billion. The retail revenue includes income from slot machines, tabular array games, and in the flesh(p) sports betting.
Meanwhile, 2022 iGaming from commercial message and tribal operators totaled $1.58 billion. Online sports betting added well-nigh $400 meg for a sum up online win of roughly $1.98 billion.
The commercial-grade iGaming and online sportsbooks accounted for the bulk of the online revenue. BetMGM, FanDuel, and Barstool won $899.7 zillion from iGaming and $285 meg from net sports betting for a tote up online win of $1.18 billion.
Sportsbook Drawback
As for Jan 2023 online sports betting, oddsmakers fared significantly worse than they did inward Jan 2022. The MGCB said meshing win — aka “hold” — dropped to a greater extent than 31% from $48.8 one thousand thousand in January 2022 to $33.6 trillion last-place month.
Handle, or the tote up amount wagered, fell 4.3% year-over-year to $475.6 million.
The trinity commercial-grade online sportsbooks won $23.2 million. MotorCity’s FanDuel Sportsbook was responsible for(p) for $19.9 1000000 of the win on tote up wagers inward surplusage of $150 million.
BetMGM kept $3.4 one thousand thousand of the $110.5 million bet during the month. Hollywood’s Barstool Sportsbook reported a meshwork loss of around $66K on $29.5 1000000 bet.
January was the 1st month when Chicago faced sports betting rivalry in neighboring Ohio. Retail and online sportsbooks inwards the Buckeye State went live on January 1.
iGaming and online sportsbooks generated $26.1 trillion in land taxes and payments inward January. The City of Motown to boot self-possessed $7.5 meg from the online commercial-grade gaming platforms.
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