By 2024, Michigan internet gambling approaches record $2.9 billion.

With the state publishing record numbers across both igaming and sports betting, revenue from online gambling in Michigan reached an all-time high of $2.9 billion (£2.4 billion/€2.8 billion) during the 2024 calendar year.
Online gaming in Michigan 2024
By 23.8%, gross internet gaming and sports betting receipts for 2024 exceeded previous record set in 2023. This also exceeds twice the $1.90 billion in the first year of legal internet gaming in Michigan in 2021.

With consideration for promotional expenditure, adjusted income—which represents $2.4 billion—up 22.3% year-on-year. Published on Tuesday (21 January), figures from the Michigan Gaming Control Board (MGCB) encompass commercial and tribal operators.

Igaming income approaches $2.4 billion.
Beginning with igaming, in this market sector income in 2024 exceeded $2.4 billion. With 26.3% above last year, this marks a fresh state record. At $2.2 billion, a rise of 27.2%, adjusted gross receipts for igaming likewise peaked historically.

With $640.1 million in total receipts and $576.9 million in adjusted receipts, BetMGM and MGM Grand Detroit claimed top market position.

Not far behind with gross receipts of $614.6 million were FanDuel and MotorCity Casino. The cooperation also brought adjusted receipts valued at $552.8 million. Third with gross receipts of $454.7 million and adjusted receipts of $409.6 million was Draft Kings and the Bay Mills Indian Community.

Year of record for sports betting
Turning now to sports betting, income hit a fresh record alongside igaming. Gross receipts from online sports betting surpassed $460.5 million in 2024, a 9.5% increase.

At $194.4 million, however, adjusted gross receipts for this division were 13.0% lower.

Players gambled $5.3 billion handle-wise on sports online, up 15.2%. Based on gross receipts, hold in Michigan for 2024 came out at 8.69%.

Regarding operators, FanDuel and MotorCity Casino apparently have no stopping power. Gross receipts for the whole year topped $202.4 million off a $2.0 billion handle for a 10.36% hold.

Posting $125.5 million in gross receipts off a $1.5 billion handle, Draft Kings and the Bay Mills Indian Community were the closest rivals. The annual hold that this produced was 8.33%.

Third with $65.8 million in income off $757.0 million handle for an 8.69% hold was BetMGM and MGM Grand Detroit. Still, this alliance produced an adjusted gross receipts loss of $14.3 million.

Other noteworthy achievers are ESPN Bet and Hollywood Greektown Casino. From $322.4 million in bets, gross receipts here came to $20.2 million, leaving a 6.27% hold. Working with the Lac Vieux Desert Band of Lake Superior Chippewa Indians, fanatics brought in $19.6 million off $236.1 million in handle for an 8.30% hold.

About taxes, operators paid the state $466.1 million in taxes and fees. This covers sports betting at $14.7 million and $451.4 million for IGaming. Additionally paying $55.3 million to regulatory authorities were tribal operators.

Detroit casino income margins start to move.
Turning now to land-based pursuits, Detroit's three commercial casinos brought in $1.29 billion, up 1.6%.

Table game income rose 5.2% to $251.0 million; slot income topped $1.03 billion, up 4.9%. Retail sports betting qualified adjusted gross receipts (QAGR), however dropped 30.7% to $9.7 million.

With $603.7 million in overall land-based income—up 7.0%— MGM led the way. While revenue at Hollywood Casino at Greektown crept up 2.7% to $292.9 million, MotorCity saw revenue rise 3.3% to $385.9 million.

The three paid the state $372,729 for retail sports betting and $103.9 million in wagering tax for slot and table games.

Record end by 2024
The MGCB also published figures for December, a month with historically outstanding performance. Online gambling income for the month came out to be $264.2 million overall, up 9.0% year-on-year but down 7.1% from November.

Regarding modified gross receipts, this came out to be $219.9 million, a 10.8% increase from 2023 but 8.5% less than the amount for November.

The month-on- month decreases occurred even with record $244.0 million in igaming gross receipts. For this part, adjusted gross receipts came to $219.6 million.

With $65.1 million in gross receipts, BetMGM and MGM kept the top position in the market. The partnership reports top monthly total here.

In terms of sports betting, gross receipts reached $20.2 million, down 66.9% from last year and 65.4% behind November. This echoes a more general industry trend whereby operators all throughout the US have been affected by customer-friendly sports results.

While handling hit $597.7 million, segment adjusted gross receipts were barely $267,881. This implied a 3.38% monthly hold determined by gross receipts.

FanDuel and MotorCity Casino were the market leaders with $7.2 million in gross receipts off a $235.5 million handle. An 8.58% hold came out of this.

Regarding Detroit's casinos, December's earnings came out to be $109.6 million. This is 5.7% below the 2023 bid margins 1.11% ahead of November.

Land-based slots revenue was $109.3 million and retail sports betting QAGR $276,509.