Online Casino and Sports Betting in Michigan Declined in June

Online Casino and Sports Betting in Michigan Declined in June

Online casino and sports betting in Michigan seem to have peaked in April, according to the Michigan Gaming Control Board’s monthly report for June (MGCB). Tuesday, the state regulator said that June was another month of declining income.

Michigan sports betting

The Edge Accelerates in Michigan Gaming Space

Commercial and indigenous businesses in the Great Lakes Stake reported total gross online gaming and internet sports betting revenues of $136.9 million, a 14.9 percent reduction from May’s $160.9 million and confirmation of the downward trend from April’s record of $163.1 million. While the decline in May was just 1.4%, the negative trend is already intensifying. 

Internet gambling accounted for $121.5 million in gross gaming revenues, while sports betting gross gaming receipts were $15.4 million. Online gaming revenue decreased by 4.6% and internet sports betting revenue decreased by 54.2% compared to May’s readings of $127.4 million and $33.5 million, respectively. With $109.4 million in total adjusted gross receipts from online gaming and $5 million in total adjusted gross receipts from internet sports betting, the total adjusted gross receipts rose to $114.4 million. 

Internet gaming adjusted revenues plummeted by 4.6% on a sequential basis, while internet sports betting adjusted receipts dropped by 77.6% from May. Online gaming adjusted gross revenues climbed by 65.3% year-over-year in June, while internet sports betting adjusted gross receipts decreased by 70%. The overall online sports betting handle of $270 million was 19 percent less than the same figure for May, which was $333.4 million.

Top 3 Sports Betting Sites For Players From Michigan in 2022

  • Slot Title
  • Pay Back
  • Key Features

  • Min. Deposit: $10
  • Payout speed: 15 minutes
50% first deposit bonus up to $250Play NowOur score:
Read more

  • Min. Deposit: $20
  • Payout speed: 1-3 business days
Welcome Bonus: 100% Up to $500Play NowOur score:
Read more

  • Min. Deposit: $10
  • Payout speed: 48 hours
$20 free betPlay NowOur score:
Read more

Fewer for State and Local

The State of Michigan collected $22.8 million in taxes and payments from operators in June, a decrease of 7.3% from May. Internet gaming taxes and fees were $22.5 million, which is 18 percent less than the $23.5 million operators paid to the state in May. Internet sports betting taxes and fees totaled $328,954, which is 70 percent less than the $1.1 million paid in May. 

The three casinos in Detroit paid the City of Detroit $6.3 million in wagering taxes and municipal services, 11 percent less than the $7.1 million they paid the previous month. Internet gambling produced $6,1,000,000 in taxes and fees, while online sports betting contributed $201,320.

Internet gambling produced $6,4 million in taxes in May, while online sports betting contributed an additional $693,999. Additionally, tribal operations paid less to their governing bodies, $2.5 million compared to $2.7 million the previous month. According to MGCB’s report, aggregate online gaming adjusted gross revenues for the first half of 2022 were $681,7 million, while aggregate internet sports betting adjusted gross receipts amounted to $74,1 million.

Avatar

About Lou De Aguila

Lou Ramon Aguila is a contributor for Golden Casino News. He has a degree in BSBA Legal Management with great interest in high-profile legal cases involving sports personalities. An ultimate sports junkie, he covers just about everything in the sporting world with an emphasis on the NBA, NFL, and MLB. In his past time, Lou loves to read manga, watch anime and critique pro-wrestling matches.