Strong September pushes Michigan past $4bn in all-time online casino revenue

Michigan’s regulated igaming market reached new heights in September, generating $166.4m in revenue to push its lifetime haul across the $4bn line.

September marked Michigan’s second-highest revenue month since the state launched online gaming in January 2021, eclipsed only by the $171.8m netted this past March.

September’s figure represented a 9.3% month-over-month (MOM) increase from $152.4m generated in August, and a 29.3% uptick from the same period last year. 

The big month resulted in $31.3m in tax payments being made from Michigan’s 15 online casino operators to state authorities.

BetMGM maintained its long-standing perch atop the market, accounting for $48.6m in revenue while sending $12.8m back to the state. DraftKings ($37.1m in revenue) and FanDuel ($35.2m) were neck and neck for the second and third spots.

On the sports betting side, Michigan’s 14 online sportsbooks combined to handle $457.7m in total wagers, resulting in $44m in gross gaming revenue (GGR).

Handle was more than double August’s $218.5m tally – a testament to the return of football – while September’s $18.7m in adjusted gross revenue after deductions represented a 17.8% MOM increase.

State coffers received $1.3m in tax payments as a result.

FanDuel continued to lead the way among operators, accepting $144.7m in total wagers while grossing $16.9m in revenue. DraftKings wasn’t far behind, totaling $137.3m in online handle but just $11.7m in GGR due to a markedly lower hold (8.5%) than FanDuel’s 11.7%.

BetMGM rounded out the top three with $78.2m and $7.8m in handle and gross revenue, respectively.