MGCB: Internet Gaming, Sports Betting Gross Receipts Hit $154.9M in August - 2022

According to recent information given by the Michigan Gaming Control Board (MGCB), the state's gambling regulator, commercial and tribal operators in Michigan reported robust revenue in August.

Michigan's Gambling Regulatory Agency Releases August Results

The regulator said on Tuesday that the aggregate gross revenues from online gaming and online sports betting in August reached $154.9 million. When compared to the statistics published one month before, in August, when the same revenues topped $148.2 million, a 4.5% rise is noticed.

The result from last month did not reflect a considerable rise when compared to July, but this is not the case when compared to the previous year. In August of last year, Michigan operators reported total Internet gaming and sports betting revenues of $113,1 million. Compared to the $154.9 million recorded in August of this year, this number represents an increase of about 37%.

Last month, sports betting revenue grew

According to the MGCB, the aggregate gross proceeds of $154.9 million in August were comprised of $130.9 million from online gaming and $24 million from sports betting. The $130.9 million in online gambling gross revenues represents a tiny 3.4% rise compared to July. However, the overall sports betting revenues of $24 million indicate an increase of 11% compared to July of this year.

Last month, the regulator said that total adjusted gross proceeds from online gaming and sports betting amounted to $133,600,000. This sum is comprised of $16.1 million from online sports betting and $117.5 million from online gaming.

Last month, the total amount wagered on sports through the Internet reached $218.8 million. Compared to the previous month's reported betting handle of $206.1 million, an increase of 6.2% is noticed.

Tribal and commercial operators pay taxes to the government

The gambling regulatory agency presented information on the taxes and payments collected by Michigan in August. Overall, taxes and fees on online gambling reached $24.3 million, while taxes and fees on internet sports betting were $989,621.

In August of this year, tribal operators reported making state-related payments totaling $2.9 million. In contrast, the three Detroit casinos contributed $6.7 million in wagering taxes and municipal fees to the City of Detroit. This sum is comprised of $6,300,923 in internet taxes and fees and $3,600,923 in online sports betting taxes and fees.