Michigan is among the latest states to legalize online casinos and sportsbooks, but it is already breaking records and proudly leading the booming sector across the United States.
In July, Michigan experienced its most successful month to date, with a 34% increase in iGaming revenue. The total gross earnings for the year 2022, until July, amounted to $883,638,698.
The current tax paid by the online gaming sector in Michigan amounts to $24,137,470.
In addition to iGaming, Michigan’s revenue streams extend beyond just iGaming. As of July 2022, the sports betting receipts reached a staggering $188 million, with the total sports handle exceeding a whopping $2.5 billion.
Fantasy Sports had a successful performance, with FanDuel and DraftKings taking the lead, generating $2,216,355 and $4,224,606 in revenue respectively.
MGM Grand Detroit, the leading company in iGaming, has achieved remarkable success by accumulating an impressive $333,149,007 in gross receipts thus far.
The Bay Mills Indian Community is the second highest earner, bringing in a total of $135,087,503.
Despite some states lagging behind in the process of legalization, Michigan, Pennsylvania, New Jersey, West Virginia, and Connecticut exemplify the benefits that come with legalizing internet gambling for all parties involved.
It is hoped that an increasing number of states will emulate this model, thus preventing players from having to rely on unregulated websites.
