(Source: MIRS.news, Published 08/14/2023) Michigan reported in June the most monthly revenue from internet gaming than the other five states where this type of gambling is legal, marking the fourth month this year in which Michigan topped the charts, according to CDC Reports.
The $150.6 million in revenue from June is a 24% jump from June 2022's $121.5 million. Michigan oversaw 15 internet casinos in June, which paid $28.4 million in taxes, 20.8% more than last year.
"With half the year in the rear-view mirror, Michigan looks to be on a pace to approach, or even surpass $2 billion in online-casino winnings for the full year," reads the CDC Gaming Reports.
I-Gaming is also legal in New Jersey, Pennsylvania, Connecticut, West Virginia and Delaware, but Michigan's numbers have consistently been higher than the other states since it started allowing i-gaming in February 2021.
For most of 2022, Michigan brought in the second-most revenue.
Asked to call on the popularity of the game, MIRS called a "father" of i-gaming in Michigan, former Rep. Brandt Iden, who is now the vice president of government affairs at Fanatics Betting & Gaming.
Iden was a driving force behind legislation to make casino games and sports betting available online. He said the state gamblers have blown the lid off the early projections from the state fiscal agencies on how many dollars would flow into state coffers.
During legislative debate, Iden would tell reporters that the number would hover around $150 million or so when in reality the actual number right now is "triple the amount of revenue we thought it would bring in."
Michigan's all-time online casino revenue is now past $3.5 billion. Tax dollars from the games are now more than $900 million.
The MGM Grand Detroit reported the highest amount of revenue among the 15 casinos -- $49.2 million. MotorCity/FanDuel was second with $29 million. Greektown/Barstool was eighth at $3.55 million.
The success of the wagering has come at a cost to the foot traffic going into the Big Three casinos in Detroit. According to Michigan Gaming Control Board numbers, MGM's revenue was down $47 million or 2.7%. MotorCity was down 3% or $32.5 million. With Greektown, the three contributed $8.3 million in taxes to Michigan.
"More people don't have to go to the casinos, but they are betting more on the Internet," he said.
By far, slot machines and table games are outpacing sports betting, which is good news for state bean counters because the state tax rate is at 28% on the former compared to 8.4% on sports betting.
Asked if he had any inkling about returning to politics, he revealed that Senate Minority Leader Aric Nesbitt (R-Lawton) inquired with the same question, and got a quick, "no."
"When you get up every morning to do something you love, why would you leave?" Iden asked rhetorically.
