Michigan iGaming hits new revenue record of $260.5 million in March

Michigan iGaming hit a new record in March, reaching a staggering revenue of $260.5 million, up by 5% from January's former record and surpassing last year's performance by 20.9%. In contrast, the sports betting market reported a decline in activity, with both revenue and handle down from 2024.

Total revenue from online gambling (iGaming and online sports betting) hit $293.5 million, a 6.7% increase from March 2024 and up 9.3% from the $268.5 million reported in February this year, according to the Michigan Gaming Control Board.

Adjusted gross receipts after promotional spending topped $260.7 million, 17.9% higher than March 2024 and up by 10.3% from February.

All in all, iGaming was the clear winner for the month, with adjusted gross receipts amounting to $246.1 million — another new record for Michigan. State iGaming tax payments reached $50.5 million, while the city of Detroit received $13.1 million from commercial operators, and tribal operators paid $6 million to governing bodies.

BetMGM and MGM Grand Detroit led the segment at $69 million in total iGaming gross receipts, followed by FanDuel and MotorCity Casino at a close $68.1 million. DraftKings and the Bay Mills Indian Community rounded out the top three with gross receipts of $41.1 million.

Meanwhile, sports betting didn't fare as well, with gross receipts reaching $33 million, a 21.2% drop year-on-year. Adjusted gross receipts were also down 45.3% from the last year to $14.6 million.

Sports betting handle was down 4.5% from March 2024, with players spending $475.1 million. FanDuel and MotorCity Casino retained the leadership with $14.1 million in gross receipts off a $179 million handle, while DraftKings and the Bay Mills Indian Community ranked second with $9.5 million off a $129 million handle. BetMGM and MGM Grand Detroit placed third with $3.9 million from $70 million.

Sports betting tax payments to the state totalled $874,052 while Detroit received $281,974.