With $95M In March Revenue, MI Online Gambling Is Hot On PA's Heels
Michigan's online gambling revenue for March was $95.1 million. Pennsylvania's revenue was only $98 million, but it's catching up quickly. Michigan's iGames didn't launch until January, so Pennsylvania had a head start. Some operators are getting the hang of Michigan online casino wagering better than others. The top three license holders generated $66.3 million in online casinos in March.
Michigan saw more than $88.7 million in online casino revenue in March. The full month revenue marks an 18% increase from February. Gaming taxes and payments generated $17.3 million for Michigan. A further $535,930 from online sports betting was earmarked for Detroit schools.
BetMGM, FanDuel and DraftKings are dominating the online gambling market in Michigan. The nine other operators generated less than half of the gross receipts. Fanduel's IPO and Fox Bet's merger may create some confusion. If the merger played out in March, Draft Kings would still reign, but Fan Duel would be the biggest player.
March's sports betting handle increased by $60 million month over month. Michigan posted $32.3 million in gross sports bets receipts. Pennsylvania performed better with $26 million. Michigan saw negative sports bet revenue in January. The state is doing better now than it did in the past.
Michigan's online gambling revenue was $95 million in March. Pennsylvania's revenue in the same month was only $8 million.