Michigan Sees Sports Betting Revenue Increase in January

| February 18, 2022 10:30 am PDT

Casino and sports betting has been growing rapidly across America over the past couple years. Michigan is no different with the state seeing record numbers this past January.

Michigan’s online sports betting launched just over a year ago on January 22nd, 2021. Around a year later, the industry has been succeeding greatly. There are record highs being reached in all sorts of categories.

With the advances in sports betting growing by the day, this record may not last very long. Casinos and sports betting will continue to see record numbers by the month and Michigan will benefit because of their early jump on the process.

Sports Betting in Michigan: December vs. January

Just taking a look at the numbers between December and January, you would see a noticeable increase. Mobile sports betting had a handle of $484.6 million in December, but then saw a 2.4% increase to $496.8 million in January.

The retail also saw an increase, but this time at a higher 19.3% rate. December was at $30.1 million, while January jumped to $35.9 million.

Michigan’s total adjusted sports betting gross gaming revenue had a major spike of 75.2% over the past couple months as well. December was at $12 million, while January was at an incredible $21.1 million.

The largest increase was in the state tax from sports betting, meaning the state is getting rewarded heavily for having legalized sports betting. They saw a major jump of 84.5% from December to January in state tax.

December’s state tax was $785,564 in total, while January jumped to $1.4 million.

The top three online sportsbooks for Michigan in January were FanDuel, DraftKings, and BetMGM. FanDuel led the charge with $132.7 million placed in bets. DraftKings was right behind at $132 million, while BetMGM was third at $110.9 million.

The profits were in the same order to no surprise. FanDuel made $8.7 million, DraftKings made $5.3 million, while BetMGM was a close third at $5.2 million in adjusted gross.

The licensees that saw the most revenue (GGR) include MotorCity (FanDuel) at $12,841,041, with MGM Grand Detroit (BetMGM) close behind at $11,383,030 in January.

Why Michigan’s Sports Betting Revenue Has Increased

Sports betting and casinos across the country have been seeing record highs in the past year. Michigan has been a big beneficiary of having legalized sports betting, from the consumer standpoint and the government standpoint.

Legalized sports betting is a great step in the right direction for both the individual USA states, as well as US consumers. Sports betting has been happening no matter if it was legal or not, so making sure it is done in a safe way is a very important thing for everyone involved.

With Michigan buying into the process, both in-person and online, they will continue to see growth and profit in their casino industry. They have lots of casinos as well as sports teams to bet on in their state.

Their main sports teams include the Detroit Lions (NFL), Pistons (NBA), Wolverines (NCAA), Spartans (NCAA), Tigers (MLB), and Red Wings (NHL).

There are a number of smaller teams that people in Michigan can bet on as well. With a very large pool of teams that you can bet on, they will be able to reach a lot of markets and see increasing numbers by the month.

Even though most of their sports teams aren’t the best in the business, most of them have bright futures. With the Detroit faithful at their back, they should continue to see new records being broken frequently.

Casino and Sports Betting Growth in Michigan

The growth of casino and sports betting has been incredible for the state of Michigan. They are seeing record handles, gross revenue, retail, and tax revenue. January’s numbers will be the target to beat from here moving forward, and they will likely be able to do it easily.

With the state of Michigan being open to gambling and sports betting, they have been able to make their state a safer place. They are getting tax revenue as businesses should, while creating a safe and legal environment to gamble and place bets in.

The possibilities are endless here and the revenues will continue to increase. The plethora of sports teams should keep the sports betting going year round and benefit Michigan greatly. Once the teams start to get better, I’m sure the numbers would increase even more.

Michigan is ahead of the curve with the advances and they will be very happy that they got a jump on the casino and sports betting industry. Other states will look at Michigan and see their rapid growth and success jump in on it.

Anthony Haage

Anthony is a sports writer for GamblingSites.com covering the NFL, NBA, MLB, NHL, and more. He also covers other various topics such as entertainment, general sports betting tips, and more.

His favorite teams are the Chicago Bears, Bulls, Cubs, and Blackhawks. He also will be a temporary fan of any team if it means winning him bets.

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