In spite of yet “another massive month” recorded by Michigan’s online gaming market in terms of revenue for April, the overall market inclusive of online casinos and sports betting operators marked a 9.6% decrease compared to figures from the previous month. Here is a quick rundown according to data from the Michigan Gaming Control Board.
Online Casinos Revenue for April Fell Short of the Previous Month’s Record
Last month, Michigan online casino operators reported $159.4 million in revenue, after the same venues gathered a record-setting revenue of $171.8 million in March 2023. In spite of the 7.3% month-to-month drop, these results are proof of the ongoing success recorded by online casinos in the Great Lakes State. Industry analyst at PlayMichigan.com Paul Costanzo emphasized that April’s revenue “is among the top five months ever nationally.”
Costanzo also mentioned the 20% increase compared to April 2022, when Michigan recorded yet another all-time high state record at $132.4 million in revenue. The analyst also discussed the remaining growth potential for the state’s online casinos which continues to be strong.
April, a “Transition Month” for Sports Betting
The same expert also spoke about April as a “transition month”, with the sports betting industry gradually going from March Madness into the slower and less eventful summer months when most leagues and championships are taking a well-deserved break.
Costanzo acknowledged that while the National Football League Draft, the National Collegiate Athletic Association men’s and women’s Final Fours, and the beginning of the National Basketball Association and National Hockey League playoffs delivered enough action for sports fans with a passion for betting, online sports betting revenue only reached $36.3 million in April 2023. The figure showed a 19% drop from March’s $44.6 million.
Total Online Sports Betting Handle and Taxes
Michigan’s online sports betting handle reached $322.8 million, marking a 20.8% decrease from the $407.7 million handle that was reached in the previous month.
As for taxes and payments, operators transferred $31 million to the State of Michigan for April, with $29.4 million from Internet gaming taxes and fees and $1.6 million from online sports betting taxes and fees.
Detroit’s three casinos paid $8.1 million in wagering taxes as well as municipal services fees. Over $7.5 million came from gaming taxes and fees with the rest from Internet sports betting taxes and fees.
Michigan’s tribal operators also completed payments of $3.6 million to governing bodies during the same month. The 2022 Tribal Gaming Report spoke about a 2.2% collective drop in payments to local entities by the state’s 23 tribal casinos from 2021 onwards.
At the moment, the state counts 15 licensed operators.