Online casinos and sportsbooks in Michigan have managed to end 2021 with a massive streak. December proved to be highly successful as online casinos raked in $120 million in revenue, whereas sports wagers reached $500 million.
The Debut Year Resulted in Over $1 Billion in Online Casino Revenue
Data by PlayMichigan states that Michigan’s debut year resulted in nearly $3.97 billion in sports bets as well as $1 billion online casino GGR. December brought more than just a fitting end to the year as online sportsbooks drew $484.6 million. In doing so, they crushed November’s record of $473.8 million and the $463.3 million record in October.
The official data, which was released on Tuesday also revealed retail sports betting at casinos in Detroit drew $30.1 million and thus, bringing the total tally to $514.6 million in wagering for December. That number is 2.8% higher than the $500.5 million recorded in November.
Furthermore, the gross revenue of online operators in December was $34.8 million, which is 35.8% lower than November, when it reached $54.1 million. The taxable revenue for both online and retail revenue was $12 million, which led to $1.2 million in taxes.
Matt Schoch, a PlayMichigan lead analyst, commented on the December numbers and said that the month was definitely one of the best months for Michigan sportsbooks. Both online sportsbooks and online casinos exceeded all expectations. He also added that the last four months were an “exclamation point to the first year.”
Michigan’s Debut Year Was Nothing Short But Amazing
Both online casinos and online sportsbooks in Michigan were legalized in January 2021 and the debut year for this state was amazing. Starting with sports betting, the total handle of both online and retail sportsbooks reached $3.97 billion. Gross revenue reached $319.5 million and a total of $13.6 million were paid in state taxes.
Eric Ramsey, a PlayUSA.com analyst, stated that sports betting in Michigan still has a lot of room to grow as the bettors in the state are still getting familiar with online and mobile betting.
Schoch said that sportsbooks had a boost in December due to the appearances of Michigan in the College Football Playoff semifinal and the Big Ten championship. DraftKings was the leader in online wagers with $120.3 million. FanDuel was right behind with $119.9 million. DraftKings’ gross revenue reached $7.3 million, while FanDuel’s revenue reached $9.6 million.
As for poker rooms and online casinos, they reached $1.1 billion, and thus, Michigan became the third US state to generate $1 billion or more in annual revenue. It is the first state to achieve this milestone in its debut year. State taxes reached $279.3 million and December was by far, the best month as it generated $121.8 million in GGR, topping the October record of $109.7 million.