The first-month revenue numbers are in, and the debut of online sports betting and casino gaming in Michigan marks the most successful legal iGaming launch in US history.
The Michigan Gaming Control Board released online gambling revenue figures for January, including breakdowns by operator for both mobile sports betting and online casino revenue.
Michigan’s online sportsbooks took $115,165,703 in betting handle for January. Ten mobile sportsbooks launched in the Great Lakes State on Jan. 22.
Online casinos also went live on Jan. 22, with eight different platforms debuting on day one. Those eight mobile casinos combined to bring in $27,538,672, by far the most successful first month for an online casino launch in the legal US market.
The MGCB January figures cover a ten-day period from Jan. 22-31. February will mark the first full month of operations for Michigan’s iGaming industry.
Michigan Online Sports Betting Revenue January 2021*
| Casino Operator | Online Skins | Online Betting Handle | Gross Sports Betting Receipts | Adjusted Gross Sports Betting Receipts | Internet Sports Betting State Tax** |
|---|---|---|---|---|---|
| MotorCity Casino Hotel | FanDuel Sportsbook | $32,602,738 | $622,372 | -$5,679,061 | |
| Bay Mills Indian Community |
DraftKings Sportsbook | $28,190,634 | $3,377,189 | -$1,186,887 | |
| Greektown Casino Hotel | Barstool Sportsbook | $27,482,238 | $3,330,772 | $1,698,246 |
$99,857 |
| MGM Grand Detroit |
BetMGM | $22,789,889 |
$5,096,934 | -$53,435 | |
| Lac Vieux Desert Band of Lake Superior Chippewa Indians |
PointsBet | $1,491,196 |
$388,380 | -$34,610 | |
| Little River Band of Ottawa Indians |
BetRivers | $1,073,195 |
$191,261 | -$93,562 | |
| Grand Traverse Band of Ottawa and Chippewa Indians |
William Hill | $692,319 |
$125,659 | $51,203 | $4,301 |
| Hannahville Indian Community |
TwinSpires | $327,661 |
$39,792 | -$8,244 | |
| Sault Ste. Marie Tribe of Chippewa Indians | WynnBET | $248,879 | $60,232 | $27,540 | $2,313 |
| Little Traverse Bay Bands of Odawa Indians |
FOX Bet | $160,052 | $70,737 | $50,472 | $4,240 |
| Keweenaw Bay Indian Community |
Golden Nugget Sportsbook | $106,904 |
$29,698 | $11,726 |
$985 |
| Totals | $115,165,703 |
$13,333,027 |
-$5,216,612 | $111,696 |
*represents the period from Jan. 22-31, 2021
**tribal casinos pay 8.4% state tax; commercial casinos pay 5.88% state tax and 2.62% city tax
Big Names Dominate Michigan’s Mobile Sports Betting Market
The battle for Michigan market share includes four of sports betting biggest brands at the top. FanDuel Sportsbook, DraftKings Sportsbook, Barstool Sportsbook, and BetMGM all posted big betting handle numbers in the first ten days of operations for mobile sports betting in Michigan.
Michigan’s online sportsbooks posted an overall loss of $5.26 million in Adjusted Gross Sports Betting Receipts. That figure subtracts welcome bonuses and all other promo credits from the Gross Sports Betting Receipts total.
The revenue figures from the early months of Michigan’s online sports betting industry will reflect a big customer acquisition push from the sportsbooks, with the welcome promotions and pre-launch bonuses offsetting early revenue numbers.
US Online Sports Betting First Month Handle Comparison
| State | Launch Date | First Month Online Betting Handle |
|---|---|---|
| Tennessee | November 2020 | $131.4 million |
| Michigan | January 2021 | $115.1 million* |
| Indiana | October 2019 | $48 million |
| Colorado | May 2020 | $25.6 million |
| Illinois | June 2020 | $8.25 million |
| Pennsylvania | May 2019 | $573,163 |
*represents the period from Jan. 22-31, 2021
Tennessee holds the first-month online betting handle record in the US ($131.4 million). Online sportsbooks went live in Tennessee on Nov. 1, 2020, with the first-month handle figures from the Volunteer State reflecting a full month of operations.
Michigan’s mobile sportsbooks nearly topped Tennessee’s $131.4 first-month handle in just ten days of business. Projecting a full month of operations would put Michigan in the top spot on the first-month handle comparison list, by far.
Michigan Online Casino Revenue January 2021*
| Casino Operator | Online Skins | Adjusted Gross Receipts | Internet Gaming State Payment** |
|---|---|---|---|
| MGM Grand Detroit |
BetMGM | $11,075,980 | $1,707,828 |
| Bay Mills Indian Community |
DraftKings Casino | $6,230,354 |
$1,032,542 |
| MotorCity Casino Hotel | FanDuel Casino | $5,970,361 |
$863,436 |
| Little Traverse Bay Bands of Odawa Indians |
PokerStars Casino | $1,777,519 |
$284,403 |
| Little River Band of Ottawa Indians |
BetRivers | $1,217,473 |
$194,796 |
| Sault Ste. Marie Tribe of Chippewa Indians | WynnBET | $649,725 | $103,956 |
| Keweenaw Bay Indian Community | Golden Nugget | $440,668 | $70,507 |
| Grand Traverse Band of Ottawa and Chippewa Indians |
William Hill Casino | $122,014 |
$19,522 |
| Hannahville Indian Community |
TwinSpires | $54,578 |
$8,733 |
| Totals | $27,538,672 |
$4,285,723 |
*represents the period from Jan. 22-31, 2021
**online casino revenue taxed at 20-28% based on earnings
US Online Casinos First Month Revenue Comparison
| State | Launch Date | First Month Online Casino Revenue |
|---|---|---|
| Michigan | January 2021 | $27.5 million |
| New Jersey | December 2013 | $7.38 million |
| Pennsylvania | July 2019 | $812,306 |
| West Virginia | August 2020 | $763,065 |
Michigan Online Casinos Post Historic First Month Numbers
Eight different online casino platforms went live in Michigan on Jan. 22. Like the state’s online sportsbooks, Michigan’s mobile casino revenue numbers cover just ten days from Jan. 22 to the end of the month.
Even in that shortened period, Michigan’s online casinos posted far and away the best first-month revenue numbers in the history of the legal US market. The simultaneous debut of eight different casinos gave Michigan a big advantage over the other states on this list, each of which rolled out online casinos one brand at a time.
BetMGM takes the top spot in the January revenue figures, taking more than 40% of market share with $11,075,980 in Adjusted Gross Receipts.
DraftKings Casino ($6,230,354) and FanDuel Casino ($5,970,361) are both off to promising starts in Michigan, which shapes up as a major player in the US iGaming market based on the January numbers.
About the Author
