The total figure, comprising igaming receipts of $248.2 million and sports betting revenue of $83 million, was up 25.4% over December’s total.
January’s record online gambling figure surpassed the previous record of $244 million set in December. Adjusted monthly igaming gross receipts of $233.1 million represented a year-on-year increase of 42%.
Online gambling growth
Last month, the Michigan Gaming Control Board (MGCB) reported that igaming revenue reached an all-time high of $2.9 billion in 2024.
The momentum appears to be continuing in the new year, with the market’s three biggest players increasing their monthly receipts.
BetMGM and MGM Grand Detroit, which generated market-leading igaming receipts of $640.1 million in 2024, remained at the top with $66.5 million in January. This figure was up from $65.1 million in December and marked a 37% year-on-year increase.
FanDuel and MotorCity Casino remained not far behind in igaming, with gross receipts in January of $62.9 million – a 47% year-on-year rise. DraftKings and the Bay Mills Indian Community remained in third spot with gross igaming receipts of $42.2 million, up 16% in comparison with a year earlier.
Sports betting
Meanwhile, January’s gross sports betting receipts of $83 million represented a sharp increase from $20.2 million recorded in December. This was despite internet sports betting handle falling by 7.1% from $597.7 million in December to $555.2 million in January.
In online sports betting, FanDuel and MotorCityCasino retained top spot with total handle of $218.3 million in January. This marginal year-on-year rise from $214 million generated a 52% increase in gross online sports betting receipts from $26.7 million to $40.6 million.
DraftKings and the Bay Mills Indian Community saw online sports betting gross receipts double from $10.9 million to $22.1 million in January. This was in spite of handle dropping from $166.8 million to $151.7 million year-on-year.
A small rise in online sports betting handle at BetMGM and MGM Grand Detroit in third place also generated a big increase in gross receipts. Whereas handle edged up from $73.2 million to $76.2 million year-on-year, receipts rocketed from $5.8 million to $10.3 million.
The MGCB also reported that Detroit casinos posted total adjusted gross receipts of $102.3 million in January – a 9% year-on-year increase.
All of the monthly figures published by the state regulator cover commercial and tribal operators. Currently, 12 commercial and tribal operators offer online sports betting, while 15 operators offer igaming in Michigan.
BetNow sanctioned
In other news, the MGCB has issued a cease-and-desist order against BetNow. The order covers the offshore operator’s online sportsbook, casino and racebook offerings.
The regulator asserted that BetNow is violating several key state laws. These include the Lawful Internet Gaming Act, the Michigan Gaming Control and Revenue Act and the Michigan Penal Code.
“This unlicensed operator not only violates Michigan law, but also exposes consumers to significant risks,” MGCB executive director Henry Williams said. “Our job is to protect Michigan residents by ensuring that all online gambling is conducted legally and responsibly.”
Original article: https://igamingbusiness.com/finance/michigan-igaming-momentum-continues-new-year/
