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As the region’s online casino income surpassed $500 million in lifetime revenue, Michigan sportsbooks have become the latest to document a continuation of sports betting reductions through July.
The gross gaming income generated by online casinos and poker rooms for the month was $92.3 million, up 3.5 percent from $89.2 million the previous month.
Over the 31 days of July, casinos raked in $3 million in wagers per day, a figure similar to June, and generated $17.1 million in state taxes and $6.4 million in local taxes.
With $33.8 million in gross gaming revenue, BetMGM/MGM Grand Detroit maintained its dominance in the online casino and poker business.
Online casinos and poker rooms have produced $575.4 million in revenue and $141.8 million in state and local taxes since their inception in January.
Eric Ramsey, data analyst for the PlayUSA said: “Many of the same forces that slow sports betting in the summer, including summer vacations, also affect online casinos.
“Michigan is still a young market that hasn’t yet reached maturity. The addition of live dealer games will make a difference going forward. And as the summer turns to fall, we should once again see the revenue at online casinos grow.”
In July, Michigan’s online sportsbooks took in $188 million in wagers, a 20 percent decrease from $235.1 million in June.
Michigan’s online and retail sportsbooks accounted for $206.3 million in wagering in July, up from $18.3 million reported previous week. This is a 20.5 percent decrease from the previous year’s total of $259.4 million.
Lowest monthly volume
This is the lowest monthly volume since sportsbooks took in $150.8 million in January, when internet betting first began on January 22. Since retail sportsbooks opened in March 2020, Michigan’s internet and retail sportsbooks have accepted $1.99 billion in wagers.
In July, FanDuel was the most popular online operator, with $54.5 million in wagers and $7.8 million in total income. With $53.4 million in wagers, DraftKings came in second in the state.
Matt Schoch, analyst for PlayMichigan said: “Pursuits other than gaming are priorities for many in July, whether that is a trip to the lake or a backyard barbecue.
“The good news for sportsbooks is that with the July dip now out of the way, operators can look forward to Michiganders returning from their summer vacations and for the excitement for the football season to build.”