Gambling regulator in Michigan reveals results for August

The regulator said Tuesday that the combined total gross internet gaming and internet sports betting receipts in August hit $154.9 million. When compared to the results reported a month earlier, in July, when the same receipts halted at $148.2 million, an increase of 4.5% is observed.

Although when compared to July, the result from last month did not represent a significant increase, this is not the case on a year-over-year comparison. Last year in August, Michigan operators reported $113.1 million in gross internet gaming and sports betting receipts. When this result is compared to the $154.9 million reported this year, in August, an increase of nearly 37% is observed.

Sports betting handle increased last month

According to the MGCB, the $154.9 million in combined gross receipts for August breaks down to $130.9 million in internet gaming gross receipts and $24 million in gross sports betting receipts. When compared to July, the $130.9 million in internet gaming gross receipts marks a slight 3.4% increase. However, the $24 million in gross sports betting receipts represent an 11% increase, when compared July this year.

The regulator revealed that combined total adjusted internet gaming gross receipts and adjusted gross sports betting receipts last month hit $133.6 million. This total breaks down to $16.1 million in internet sports betting receipts and $117.5 million in internet gaming receipts.

Last month, the total internet sports betting handle hit $218.8 million. When compared to the betting handle of $206.1 million, reported a month earlier, an increase of 6.2% is observed.

Tribal and commercial operators contribute with taxes

The gambling regulator provided details regarding the taxes and payments collected by Michigan in August. Overall, internet gaming taxes and fees hit $24.3 million, while internet sports betting taxes and fees for the period were $989,621.

In August this year, tribal operators reported paying $2.9 million in payments to the relevant state bodies. On the other hand, $6.7 million in wagering taxes and municipal fees were paid by the three Detroit casinos to the City of Detroit. This total breaks down to $6.3 million in internet taxes and fees, as well as $360,923 in internet sports betting taxes and fees.

By Jerome Garcia