According to the latest report by the Michigan Gaming Control Board (MGCB), Michigan iGaming revenue for November 2024 amounted to $284.3 million, setting a new monthly record. The number includes revenue from both commercial and tribal operators, just as both iGaming and sports betting contributed to the record-breaking results, each surpassing their previous all-time high.
iGaming was the more prolific of the two, raking in a total of $226.0 million in November 2024. For comparison’s sake, it marked an increase of 2.4% compared to the previous record set in October ($220.7 million) and a considerable bump of 28.8% compared to November 2023.
Likewise, the sports betting market saw a significant increase – dramatic even. November 2024 reached $58.3 million in gross receipts, which is 76.7% higher than the previous month and a whole 72% more than the same time in 2023. Lastly, a total of $650.2 million was wagered in November, beating the previous record of $613.4 million set in November 2023 by 6.0%.
Revenues by Casinos and Sportsbooks
The iGaming market was led by two legal online casino powerhouses, BetMGM and MGM Grand Detroit, raising $59.7 million in gross iGaming receipts. FanDuel and MotorCity Casino were not far behind with $57.0 million in gross receipts, while DraftKings and the Bay Mills Indian Community raised $41.6 million in gross receipts. The iGaming taxes collected in November were $44.4 million.
As for sportsbooks revenue, FanDuel and MotorCity Casino raised $22.1 million from $245.6 million wagered, followed closely by DraftKings and the Bay Mills Indian Community with $18.4 million from $182.8 million, while BetMGM and MGM Grand Detroit raked in $9.7 million out of $93.8 million. Their holds range between 9% and 10.34%, while sports betting taxes were $1.9 million.
The Current State of Michigan iGaming Industry
The online casino and sports betting market in Michigan is currently thriving. Not only are they bringing more revenue than ever before, but they’re also setting new milestones in terms of tax-related profits and handles.
Likewise, land-based casinos are showing signs of post-strike improvements, having accumulated $108.4 million in November 2024 across all three Michigan retail casinos, 5.3% more than the month before.
Overall, in 2024, the Michigan Gaming Control Board (MGCB) has generated over $500 million to benefit the state’s School Aid Fund. Online gaming brought in $400 million, divided between the three legal online casinos, sportsbooks, and DFS.
The iGaming piece of the pie is the biggest at $388 million, while sports betting and fantasy contests chipped in $12.9 million and $297,219, respectively. The Michigan success story didn’t go unnoticed, with MGCB Executive Director Henry Williams recently winning the 2024 American Gambling Awards Regulator of the Year.
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