Michigan Sets All-Time Sports Betting & iGaming Records in 2024
Michigan’s iGaming and Online Sports Betting Market: A 2024 Overview
In 2024, Michigan’s iGaming and online sports betting sectors have witnessed remarkable growth, with combined revenues soaring to $2.9 billion in gross receipts. This represents a substantial 26% increase from the $2.3 billion reported in 2023, underscoring the state’s flourishing gaming landscape.
2024 Key Figures
December Highlights
- iGaming Gross Receipts: $244 million
- Sports Betting Gross Receipts: $20.2 million
- iGaming Adjusted Gross Receipts (AGR): $219.9 million
- Sports Betting Handle: $617.4 million
- iGaming Taxes: $45.9 million
- Sports Betting Taxes: $230,583
Annual Totals for 2024
- Total Gross Receipts: $2.9 billion
- iGaming Gross Receipts: $2.4 billion
- Sports Betting Gross Receipts: $460.5 million
- Total Adjusted Gross Receipts (AGR): $2.4 billion
- iGaming AGR: $2.2 billion
- Sports Betting AGR: $194.4 million
- Total Sports Betting Handle: $5.5 billion
- Total Annual Taxes: $466.1 million
- iGaming Taxes: $451.1 million
- Sports Betting Taxes: $14.7 million
Dynamics of Sports Betting in 2024
Sports betting in Michigan has proven to be highly variable, yet it remains a critical component of the state’s gaming economy. Revenue surges are typically aligned with major sporting events. For instance, during September, as the NFL season commenced, sports betting receipts peaked at an impressive $58.4 million. However, towards the end of the year, these receipts experienced a slight decline.
Monthly Breakdown of Sports Betting Performance
| Month | Total Handle | Mobile Handle | Handle % | Sportsbook Revenue | Win % | Adjusted Sportsbook Revenue | Adjusted Win % | State Taxes |
|---|---|---|---|---|---|---|---|---|
| January | $601,585,143 | $577,396,906 | 95.98% | $48,197,777 | 8.01% | $19,299,505 | 3.21% | $1,341,121 |
| February | $415,816,728 | $402,594,812 | 96.82% | $30,361,417 | 7.30% | $12,782,739 | 3.07% | $927,225 |
| March | $497,622,751 | $480,369,320 | 96.53% | $43,534,857 | 8.74% | $28,269,607 | 5.68% | $1,729,141 |
| April | $414,426,339 | $399,142,534 | 96.31% | $43,437,160 | 10.48% | $29,340,251 | 7.08% | $1,818,697 |
| May | $354,836,012 | $343,688,480 | 96.86% | $42,766,351 | 12.05% | $29,971,640 | 8.45% | $1,846,175 |
| June | $285,170,266 | $276,751,936 | 97.05% | $31,802,442 | 11.15% | -$27,322,634 | -9.58% | $1,165,761 |
| July | $256,764,457 | $343,688,480 | 97.44% | $29,041,634 | 11.31% | $16,837,536 | 6.56% | $1,126,522 |
| August | $289,680,651 | $280,066,450 | 96.68% | $29,053,190 | 10.03% | $18,030,221 | 6.22% | $938,516 |
| September | $523,776,650 | $501,752,009 | 95.80% | $59,216,535 | 11.31% | $28,317,984 | 5.41% | $1,459,401 |
| October | $582,588,391 | $560,400,000 | 96.19% | $33,000,000 | 5.66% | $9,900,000 | 1.69% | $569,374 |
| November | $670,530,927 | $650,200,000 | 96.96% | $60,228,292 | 8.98% | $39,014,716 | 5.81% | $1,972,376 |
| December | $617,467,564 | $597,700,000 | 96.79% | $20,479,648 | 3.31% | $544,390 | 0.08% | $230,583 |
| Totals | $5,510,265,879 | $5,413,750,927 | 96.62% | $471,119,303 | 9.03% | $204,985,955 | 3.64% | $15,124,892 |
Tax Revenue Overview
In 2024, Michigan’s iGaming and sports betting operators contributed a total of $369.8 million in taxes, a significant rise from the $292.2 million paid in 2023. These increased tax revenues are vital for funding public services, encompassing education, infrastructure upgrades, and the comprehensive regulation of the gaming industry.
Consistent Growth and Performance Trends
The year commenced robustly, with January reporting iGaming gross receipts of $181.9 million alongside $47.7 million from sports betting, totaling $229.6 million. February witnessed a continuation of growth in iGaming, with gross receipts reaching $188 million, even as sports betting receipts fell to $30.5 million, resulting in a combined total of $218.5 million.
March marked a turning point, with iGaming revenues escalating to $215.15 million, further complemented by sports betting receipts of $41.93 million, culminating in total monthly receipts of $257.08 million. This positive trend extended through April, May, and June, with iGaming demonstrating remarkable resilience, even in traditionally quieter months.
The year concluded with December establishing an all-time monthly high for iGaming revenues at $244 million. Despite the dip in sports betting receipts to $20.2 million, the combined total of $264.2 million highlighted one of the strongest months of the year.
Jenny Tang is a seasoned iGaming commentator and analyst based in New York City, specializing in regulatory developments and industry trends within the gambling sector. She provides insights that are valuable for stakeholders seeking to navigate the evolving landscape of iGaming and sports betting.
