Key Moments:
- Michigan’s iGaming sector reported an all-time high of 278.5 million dollars in gross receipts for October.
- Sports betting handle rose to 605.9 million dollars, marking a 15.6 percent increase over September and an 8.1 percent gain year over year.
- The state’s online gaming industry contributed a combined 58 million dollars in taxes for October.
Strong Gains Across iGaming and Sports Betting
Michigan reached new heights in October, with both its online casino and sports betting sectors breaking previous records. The Michigan Gaming Control Board reported that the state saw its highest ever monthly total for iGaming revenue. At the same time, sports betting activity bounced back strongly from a subdued September, delivering robust wagering volumes and hold percentages. This combined momentum led Michigan to one of its most lucrative months since launching online gambling operations.
Sports Betting Sees Significant Recovery
Michigan sportsbooks experienced a notable resurgence in October, reversing a slower September. Accepting 605.9 million dollars in wagers, operators enjoyed an 8.1 percent year-over-year boost and a 15.6 percent increase compared to the previous month. Operators retained 12.2 percent of the handle, reporting 73.8 million dollars in gross receipts—a 123.6 percent rise from the prior year.
The state collected 3.4 million dollars in taxes from sports betting alone. The broader online gaming market, which includes iGaming, delivered 58 million dollars in tax revenue, supplemented by 15 million dollars in retail casino payments.
Leading Operators and Their Performance
FanDuel maintained a commanding lead among Michigan’s sportsbooks, outperforming all competitors in both handle and revenue. FanDuel managed 230.5 million dollars in wagers and 17.5 million dollars in adjusted gross receipts, widening its gap over DraftKings. FanDuel’s handle improved 9.1 percent year over year, with adjusted receipts surging 103.6 percent.
DraftKings followed closely, strengthening its own performance, while BetMGM saw fewer wagers but higher receipts than the previous year. Fanatics posted a significant leap in handle, up 70.6 percent year over year. PENN Entertainment, despite ending its ESPN Bet partnership earlier in the month, registered a decrease in wagers but a considerable increase in receipts. Caesars rounded out the top six, reporting a marginal drop in handle but triple-digit growth in adjusted gross receipts.
| Operator | Handle | Adjusted Gross Receipts |
|---|---|---|
| FanDuel | 230.5 million dollars | 17.5 million dollars |
| DraftKings | 180.5 million dollars | 16.8 million dollars |
| BetMGM | 70.5 million dollars | 7.3 million dollars |
| Fanatics | 50.3 million dollars | 2.5 million dollars |
| ESPN Bet | 28.6 million dollars | 2.4 million dollars |
| Caesars | 25.4 million dollars | 1.7 million dollars |
Historic iGaming Revenue Sets New Standard
October marked a breakthrough for Michigan’s online casino market, which produced 278.5 million dollars in gross receipts—the state’s best monthly figure to date. This accounted for the majority of the 352.3 million dollars in total gross online gambling receipts for the period. Adjusted iGaming revenue reached 261.7 million dollars, a 31.8 percent year-over-year increase, with growth reported across most operators.
Market Trends and Outlook
Michigan’s online gambling sector continues to exhibit strong, broad-based growth. Since January, online sports betting operators alone have generated 4.3 billion dollars in handle, 500 million dollars in gross receipts, and 18.4 million dollars in state taxes. With the latest iGaming milestones and a sports betting rebound, Michigan’s digital gaming market appears poised for continued expansion as the year progresses.
- Author
Daniel Williams
