Gross income from online betting produced $17.4m in taxable revenue, yielding over $690,000 in state and local taxes.
Eric Ramsey, an Analyst for the PlayUSA Network, which includes PlayMichigan, explained: “September will raise expectations for the industry, and the bar was already pretty high. The next three months have the potential to bring even more records.”
The state’s online and retail sportsbooks accounted for a record $386.8m in wagering for September. According to data released by the Michigan Gaming Control Board, online sportsbook handle went up 84% compared to August; however, the month’s handle fell just short of the online record of $359.5m set in March.
DraftKings led the online market for the second consecutive month with $106.9m in wagers, up from $61.4m for August. FanDuel came in second with $82.1m in bets, up from $47.7m for August. BetMGM followed with handle of $81.8m, up from $43.7m for the previous month.
PlayMichigan Analyst, Matt Schoch, mentioned: “DraftKings, FanDuel, BetMGM and other operators have been extremely aggressive in using football to push for new customers. September’s growth shows that those promotional efforts are paying off, and that will help expand the market even after the football season ends.”
Michigan’s online casinos and poker rooms set another record, with $102.4m in gross gaming revenue for September. The previous record of $97.2m was set in August.
The state is now one of the only three (following New Jersey and Pennsylvania) to ever produce $100m in revenue over the course of a month.
According to Ramsey, the expansion of gaming options is one of the main reasons for this growth: “Live dealer games have pushed online casino gaming to a new level. The state’s industry will almost certainly reach $1bn in revenue in its first year of existence, which is a remarkable milestone for such a young market.”
