Online betting and casino games went live in Michigan almost exactly a year ago, and figures show that gross gaming revenue from both online casinos and sportsbetting operators totaled over $5 billion.
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Michigan’s First Year in the Online Gaming World
The first site to go live in Michigan’s online gaming market was PokerStars MI, followed by BetMGM Poker as well as tribal casinos Four Wings, FireKeepers and Play Gun Lake. By the end of the year, 14 real-money gambling apps were live in the state.
In total, sportsbooks in Michigan produced $3.97 billion in online and retail bets – resulting in $319.5 million in gross revenue. Online casino and poker sites saw $1.1 billion in gross revenue.
The most successful operator of the newly licensed brands in Michigan was BetMGM. Over the year, the site brought in $46 million in gross gaming revenue.
The tax revenue generated by Michigan online casino, poker and sportbetting operators is equally as impressive. Over the course of the year, $297 million in tax revenue was produced.
Most of this money goes towards the Michigan school aid fund. The rest is spent on a state fund for compulsive gambling that helps to support programs run by the Department of Health and Human Services.
Michigan Betting Sites Ended 2021 With a Bang
As 2021 came to an end, online betting sites in Michigan experienced yet another jump in revenue. While November saw sites generate an average of $3.6 million per day, December’s daily revenue increased to $3.9 million.
All-in-all, online sportsbooks brought in $484.6 million in December – up from the record set in November of $473.8 million. Coupled with the handle from the retail market, December saw $500 million in wagering.
Online Sportsbetting Continues to Win Big in the USA
Michigan’s sportsbetting market is just one of several to experience an impressive inaugural year. Online betting in Pennsylvania went live in 2019, and the market celebrated having processed $1 billion in bets by the time its first anniversary came around.
By the end of 2021, the state had reached 3.9 billion in gross gaming revenue – and, many other states experienced similar growth. So, Michigan’s online betting and online casino operators can look forward to a very prosperous future.
This should continue to serve as more proof that legalizing online poker and sportsbetting is a worthwhile venture across the United States. With billions of dollars being wagered, a significant amount of tax revenue is generated to provide much-needed support for deserving state programs. These numbers are sure to convince lawmakers in other states that getting online sportsbetting live has plenty of positive impacts.