Michigan sees record growth in online gaming and sports betting

In November, Michigan’s online sports betting and online gaming sector reached a historic high, generating $335.7 million in gross revenue, an 18.1% increase year-over-year.

Online Sports Betting — New Record

The sports betting segment achieved an unprecedented result, reaching $87.3 million in gross revenue, surpassing the previous record of $83 million set in January.

Online Casinos Maintain Steady Strength

Online gaming also continued solid growth, recording $248.4 million in gross revenue — up 9.9% from last year, although below October’s record of $278.5 million.

Adjusted Revenue

Adjusted gross revenue (including advertising costs) increased 24% year-over-year to $298 million, though still below October’s peak of $310.9 million.

Adjusted revenue from online casinos: +14.7% YoY

Adjusted revenue from sports betting: +74.7% YoY

Player Activity

Sports betting volume in November was $631.1 million, 2.9% lower than last year. This led to a decrease in margins:

• 13.83% on gross revenue
• 10.25% on adjusted revenue

Sports Betting Market Leaders

FanDuel & MotorCity

• Gross revenue: $39.3 million
• Adjusted revenue: $28.2 million
• Market share: 16.73%
• Betting volume: $234.9 million

DraftKings & Bay Resort & Casino

• Gross revenue: $23.8 million
• Market share: 12.75%
• Betting volume: $186.7 million

Online Casino Leaders

• FanDuel & MotorCity — $71.8 million gross revenue
• MGM & BetMGM — $63 million

Tax Revenue

The state collected a total of $53 million in taxes, including:

• $48.5 million — online gaming
• $4.5 million — sports betting
• $14.4 million — Detroit casinos
• $5.5 million — tribal gaming authorities