Michigan becomes latest state to set online betting management record in January – Finance

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The Michigan Gaming Control Board recorded a handle for online sports betting of $496.8 million in January 2022, setting a new state record.

The handful’s total was a 2.5% improvement from the previous record set in December 2021.

Online sports betting revenue for the month was $34.7 million. Adjusted gross sports betting revenue, which takes into account deductions for the monetary value of free play incentives, totaled $19.17 million for Internet sports betting.

Operators also paid $1.4 million in sports betting taxes during the month.

Online gaming revenue was $121.2 million in January. Adjusted gross revenue for online games was $109.2 million. Internet gambling taxes and fees totaled $19.1 million.

Together, the operators paid $20.5 million in taxes to the state during the month, while combined online sports betting and igaming revenue was $155.9 million. This is a decrease of 0.4% from December 2021 and an increase of 282.1% from January 2021, the first month of operation for online operators in Michigan.

Combined adjusted gross revenue for the two markets was $128.4 million for the month.

Detroit’s three casinos – MGM Grand Detroit, MotorCity Casino and Penn National’s Greektown Casino Hotel – paid $5.9 million in taxes to the city in January.

Michigan recently announced revenues of $1.40 billion for all of 2021.

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