Michigan Online Casino Earnings Broke State Records for October 2021
Michigan online casino monetary earning records were beaten by commercial and tribal casinos in October. The gross internet and gaming receipts by online operators came in at $134 million. This number was over 6% more than what was reported in September.
A Michigan record was broken for October. The combined tribal and commercial casino operators gross receipts equaled 109.7 million dollars. This makes up the gross receipts for internet gaming in October. This number exceeds the gross receipts for September by over $102 million. The total receipts for online sports betting for October reached over $24 million. In addition, a total of 463.3 million dollars was brought in through online sports betting. This number was almost 31% higher than the total handle in September. Finally, the previous record was made last March with an amount of $359.5 million.
The total adjusted gross receipts and receipts for sports betting in October topped $103.6 million. When this number is broken down, online casino gaming brought in $98.9 million. In addition, 4.7 million dollars in receipts came from online sports betting.
Almost $21 million was raised in payments and taxes for the State of Michigan. Online gaming provided the greatest contribution for taxes and payments at $20.3 million while internet sports betting raised close to $553,000.
In the state of Michigan, tribal and commercial casinos contribute to the state differently for online sports betting receipts. The breakdown for commercial vs tribal casinos is as follows.
Michigan Online Casinos Commercial Operators:
70% of the 8.4 percent tax goes to the state and the city of Detroit received 30 percent.
Tribal Casinos: 8.4 percent of the gross receipts that are adjusted are paid to the state of Michigan.
The Detroit Michigan online casinos contributed 5.9 million dollars to the city for taxes and services for the municipality. The online gaming fees and taxes contributed were largest at 5.5 million dollars followed by over $354, 000 from fees and taxes assessed for sports betting online.
On the tribal casino side, contributions for 2.3 million dollars were raised. These payments are made to the governmental bodies that provide oversight for each tribe.
Receipts from the inception of online sports and casino gambling:
January 22, 2021, marked the beginning of online sports betting and internet casino gaming. Adjusted gross casino and sports betting adjusted gross receipts are listed below through October 31, 2021:
- Online Casino Gaming- 97.5 million dollars
- Internet Sports Betting- 65.2 million dollars
See the revenue distributed through sports betting. This table can be found on the MGCB website.
In October, 14 operators were given the authorization to offer both online casino gaming and sports betting. More detailed information for each casino can be viewed in tables provided on the Michigan Gaming Control Boards website.