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The Michigan Gaming Control Board (MGCB) reports that online betting and iGaming revenue in September totaled $261.0 million (£200.2 million/€240.4 million). This represents a 24.1% rise from last year and a 16.5% increase compared to August.
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Michigan Online Betting and iGaming Revenue for September 2024
Adjusted gross receipts, which account for promotional expenses in Michigan, totaled $209.9 million. This was 24.6% higher than last year’s figure and 2.5% more than in August.
In September, iGaming made up $202.6 million of the total online gambling revenue. This was a 21.8% increase from last year and the second-highest monthly figure ever, just behind $215.5 million in March. It was also only the second time in the market’s history that monthly revenue crossed the $200 million mark. Adjusted gross receipts from iGaming were 21.7% higher compared to the previous year.
Leading iGaming Operators: BetMGM, FanDuel, and DraftKings
The MGCB doesn’t provide a breakdown of the iGaming market by game type but does share data on individual licensed operators. In September, BetMGM, partnered with MGM Grand Detroit, led the market, reporting $53.4 million in gross gaming revenue (GGR) and $48.0 million in adjusted gross revenue (AGR).
FanDuel, in partnership with MotorCity Casino, ranked second with $48.8 million in gross gaming revenue (GGR) and $43.9 million in adjusted gross revenue (AGR). DraftKings, along with the Bay Mills Indian Community, came in third with $38.2 million in GGR and $34.4 million in AGR.
Impressive Growth in Michigan Sports Betting Revenue
In sports betting, gross gaming revenue reached $58.4 million in September, marking a 32.7% increase from last year. This was also the second-highest monthly figure since the market began, behind December’s $61.1 million.
Adjusted gross receipts from sports betting grew by 47.6% compared to the previous year. This resulted in a monthly hold (the percentage of revenue from the total handle) of 11.64%.
When it comes to operators, FanDuel and MotorCity Casino remain the leaders. In September, they generated $24.4 million in gross receipts from a $180.1 million handle, resulting in a hold of 13.55%.
DraftKings and the Bay Mills Indian Community came in second, with $17.4 million in GGR from $155.9 million in handle and an 11.16% hold. BetMGM and MGM Grand Detroit were third, earning $9.3 million in GGR from a $74.5 million handle, for a 12.48% hold.
The MGCB also released figures for retail sports betting earlier this month. In September, revenue from the three Detroit commercial casinos totaled $771,751, which is down 52.0% from last year and 55.4% lower than in August.
Revenue from slots and table games reached $101.2 million, a 1.2% increase compared to last year, but 8.6% lower than August’s total.
