Michigan has set a new monthly record for iGaming revenue for the second time in just three months. Gross iGaming revenues in October were $278.5 million, surpassing the previous high of $263.3 million in August. There was also a significant increase in sports betting, as the total gross receipts were $78.3 million, compared to $43.6
Michigan has set a new monthly record for iGaming revenue for the second time in just three months.
Gross iGaming revenues in October were $278.5 million, surpassing the previous high of $263.3 million in August.
There was also a significant increase in sports betting, as the total gross receipts were $78.3 million, compared to $43.6 million in September. The combined growth of gross receipts increased by 16.4% month-to-month, reaching $352.3 million.
iGaming and mobile sports betting adjusted gross receipts combined hit $310.9 million in October: $261.7 million from iGaming and $49.2 million from sports betting. The iGaming adjusted gross receipts (AGR) also went up by 7.5%, or by $36 million for sports betting AGR, compared to September.
On a year-on-year basis, iGaming AGR climbed 31.8%, while sports betting AGR grew by $39.4 million.
The latest report from the Michigan Gaming Control Board also showed that monthly mobile sports betting handle jumped 15.6% to $605.9 million. Together, iGaming and sports betting generated $58 million in tax revenue for the state.