Michigan online gambling generates $1.98 billion in 2022
It was another big year for online gambling in the Wolverine state.
Michigan commercial and tribal Internet casino gaming operators and Internet sports betting operators reported total gross revenue (revenue) of $1.98 billion in 2022.
Gross revenue increased 41% from $1.4 billion in revenue reported in 2021. Internet casino gaming generated $1.58 billion in gross revenue and Internet sports betting generated $399.58 million of gross revenue.
The figures were lower when taking into account promotional credits extended to online gamblers. Adjusted gross receipts include deductions for the monetary value of free play incentives provided and paid for by punters.
Adjusted gross revenue for Internet gaming and Internet sports betting in 2022 was $1.65 billion, up 47.8% from $1.1 billion in adjusted gross revenue in 2021 .
The 2022 results included $1.43 billion from adjusted gross revenue from Internet gaming and $219.58 million from adjusted gross revenue from sports betting.
Sports betting revenue can vary by industry. A popular metric is the amount wagered, known as the handle. The total handle for the year was $4.6 billion compared to $3.7 billion in 2021.
Michigan kicked off online gambling in early 2021.
Based on revenue data, tribal and commercial operators paid $302.98 million in taxes and payments to the State of Michigan in 2022. The three Detroit commercial operators reported that they paid the City of Detroit $84.57 million dollars in betting taxes and city service taxes during the year.
Tribal workers reported making payments of $32.83 million to tribal governing bodies.
In revenue from Detroit’s casino retail operations, the three properties had annual revenue of $1.276 billion in 2022. Physical slots generated 77 percent of revenue at $983.7 million, table provided 21% of revenue at $273.3 million and retail sports betting added 2% of revenue at $18.8 million.
By comparison, casinos produced $1.294 billion in aggregate revenue in 2021.
The 2022 market shares were mgm extension Grand Detroit, 48%, MotorCity Casino, 31%, and Hollywood Casino in Greektown, 21%.
In calendar year 2022, casino betting taxes contributed $101,814,954 to the state education aid fund, and the fund received $711,087 from retail sports betting taxes.