Michigan gambling generates record revenues in 2023
In 2023, Michigan online gambling industry reported record revenues of $2.30 billion, according to a report by the Michigan Gaming Control Board (MGCB).
December 2023 was also a record for Michigan’s online gambling industry, with combined iGaming and sports betting gross receipts reaching $242.5 million—a 15.9% increase from November. iGaming gross receipts of $181.4 million and the highest-ever gross sports betting receipts of $61.1 million.
A tremendous year on the field for Michigan’s teams boosted the performance of gambling operators in the last 12 months. Michigan won its first college football national championship, beating Washington in a highly-anticipated game for bettors, while the Lions reached the playoffs, fuelling wagering growth.
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The taxes from gambling revenues go towards funding important costs for the state, including K-12 education and the Compulsive Gaming Prevention Fund
In total, operators paid $369.8 million in taxes to Michigan. $354.0 million came from iGaming, and $15.8 million was generated from Internet sports betting. The state collected $36.7 million in taxes and payments collected in December. The three Detroit casinos contributed $9.4 million in taxes and fees, with iGaming generating $8.4 million and sports betting $1.0 million of this total.
The money from these taxes goes to the Internet Gaming Fund and the Internet Sports Betting Fund. These funds cover important costs for the state, payments to the City of Detroit for K-12 education, and the Compulsive Gaming Prevention Fund. They also support the First Responder Presumed Coverage Fund and the School Aid Fund.
