Michigan announces April revenue, sports betting down 22%
Following the end of the NFL and March Madness, Michigan has seen a drop in sports betting revenue when compared to the month before, but an increase when compared year-on-year.
The Michigan Gaming Control Board has released its report on the total gaming and sports receipts for the month of April. The state generated $195.7m in total revenue derived from sports betting and iGaming.
The total combined internet gaming and sports betting adjusted gross receipts for Michigan in April, however, totalled $167.9m.
In April 2023, the gross receipts for internet gaming were $159.4m, with an adjusted amount of $149.3m. This marks a 7% decrease from March 2023, but a 20% increase from April 2022.
However, this follows a record-breaking amount of internet gaming gross receipts from March 2023, which totalled $171.8m.
The $36.3m amount for sports betting sees an adjusted gross receipt of $24.5m, which is a 22% decrease from March 2023, but a 47% increase from April 2022.
When compared to the $404.7m total internet sports betting handle recorded in March 2023, April’s total had decreased by 20.8%.
For the month, operators reported $31m in taxes and payments to the State of Michigan, made up of $29.4m from internet gaming taxes and $1.6m from internet gaming taxes.
Tribal operators in Michigan reported $3.6m had been made in payments to relevant governing bodies in April.
Out of the Internet Gaming Fund of Michigan, $500,000 will be donated to the Compulsive Gaming Prevention Fund and $2m to the First Responder Presumed Coverage Fund.
Any remaining balance will be given to the School Aid Fund at the end of the financial year.
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