Michigan Sports Betting Operators report August revenue of $113.1 million

Online gambling operators in Michigan reported $113.1 million in revenue in August, up slightly from July, according to numbers released Thursday by the Michigan Gaming Control Board.

Internet gaming brought in $97.2 million in gross receipts last month, the highest monthly total since online gambling launched in January. Internet sports betting, meanwhile, generated $15.9 million in gross receipts, down from $19.6 million in July. The total online sports betting handle, or amount wagered, for the month came in at $192.3 million, 2.3% higher than in July.

August’s sports betting results pushed the state past $2 billion in online and retail wagering for the year, according to PlayMichigan.com, which covers the gaming industry.

“August marks the beginning of the most important stretch of the year for sportsbooks,” Eric Ramsey, analyst for the PlayUSA.com network, which includes PlayMichigan.com, said in a statement. “It only takes a few college games, the NFL’s preseason and futures bets to show the importance of football to the industry. But the small number of games in August is merely a precursor for the next four months.”

Operators paid more than $18.4 million in state taxes and payments tied to the two forms of gambling for August.

Detroit’s three casinos reported city wagering taxes and municipal services fees of $5.1 million for the month. Tribal operators reported $2 million in wagering payments to the tribes’ governing bodies.

From the Jan. 22 launch of online gambling through Aug. 31, aggregate internet gaming adjusted gross receipts totaled $606.3 million. For online sports betting, the total stood at $60.5 million, according to the MGCB.

Fourteen operators were authorized for both forms of online wagering last month.

The state operates a 24-hour, toll-free helpline for online gambling at 1-800-270-7117. Additional information is available at www.michigan.gov/mgcb.

Source: Detroit News 

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