All About Michigan Sports Betting Handle And Revenue
The experts at BetMichigan.com have assembled this guide to explain what we mean when we talk about Michigan sports betting financial figures, which include handle, revenue, adjusted gross receipts and tax collections.
Michigan has one of the most expansive menus of legal gambling options in the United States. Michigan has Tribal and commercial casinos; retail and mobile sports gambling; and online casino games (also called iGaming) with options such as slots, table games and internet poker.
Tribal casino gambling in Michigan predated the commercial casinos in Detroit. In 1993, the state signed compacts with several federally recognized tribes in Michigan to conduct Class III gaming on their lands, but some tribal gaming operated even before that time. In 1996, Michigan voters approved commercial casino gambling for Detroit, which allowed for three casinos. They opened from 1999 to 2000.
Near the end of 2019, the state legislature legalized a raft of gambling options, including in-person and online sports gambling, iGaming and fantasy sports. Commercial and tribal casinos could have retail sports betting and Michigan sportsbook apps. The first in-person sports bet was made in March 2020 and online sports gambling launched in early 2021.
Michigan Sports Betting, March vs. February
Michigan Sports Betting Handle and Revenue: March 2024
Michigan sportsbooks did not come near a record for March handle or revenue, but there were increases in a year-over-year comparison.
The sports betting handle, or amount wagered, hit $497,622,751 last month. That was up 19.7% from February ($415,816,758) and an increase of about $76 million form March 2023. As always, the vast majority of wagers were placed with Michigan sports betting apps, to the tune of $480M in March.
The state record is $613.426 million in handle, set in December 2023.
The total adjusted Gross Gaming Revenue from sports betting more than doubled in a month-to-month comparison. The March figure was $28,269,607 (with $26,671,373 coming from online operators), representing a 121.2% spike from February’s $12,782,739.
The taxes also rose dramatically, up 86.5% from February’s $927,225 to $1,729,141 in March.
Michigan Mobile Sports Betting History
Michigan Sports Betting Handle and Revenue FAQs
In Michigan in 2023, sports betting handle was about $4.8 billion. Adjusted gross sports betting receipts were just above $237.4 million for mobile and retail sportsbooks combined. Adjusted gross receipts include deductions for the monetary value of free play incentives provided to and waged by bettors. Internet taxes, fees and payments from sports gambling from both Tribal and casino operators were about $19.94 million.
The tax rate on operators is 8.4%.
The Michigan Gaming Control Board reports its figures for sports betting once a month.
For non-Tribal operators, proceeds are distributed among the Internet Sports Betting Fund; the Agriculture Equine Industry Development Fund, and the City of Detroit. For tribal operators, proceeds are distributed between Internet the Sports Betting Fund and the Michigan Strategic Fund.
The Michigan Gaming Control Board.
Mobile sports betting handle refers to the amount of money wagered on mobile or online apps, using phones, laptops, or other online devices. Many online operators offer Michigan sports betting promo codes to customers. Total handle refers to the combined handle of both online wagering and sports betting done in person at casinos.
In sports betting, handle is simply the total of all sports wagers made in the state during any month. In Michigan, bettors wager hundreds of millions of dollars monthly and the vast majority of the action is from people using mobile/online devices. Revenue is what is left to the gambling operators after winnings are paid out. Adjusted Gross Receipts is largely revenue minus deductions for the monetary value of free play incentives provided to and wagered by bettors.
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