In 2024, Michigan's online gambling hits a new high of $2.9 billion.

 During the 2024 calendar year, Michigan's online gambling brought in an all-time high of $2.9 billion (£2.4 billion/€2.8 billion). The state saw record numbers for both online gambling and sports betting.
 Michigan igaming revenue: The state made 23.8% more money from online gambling and sports betting in 2024 than it did in 2023, which was the previous high point.  What a difference! This is more than twice the $1.90 billion that Michigan made in the first year that online gambling was allowed there in 2021.

 Taking into account spending on advertising, adjusted income was $2.4 billion, which is 22.3% more than the same time last year.  The numbers from the Michigan Gaming Control Board (MGCB), which came out on Tuesday (January 21), include both commercial and tribal operations.

 I-gaming brings in more than $2.4 billion
 Starting with igaming, this part of the market made more than $2.4 billion in 2024.  This is a new record for the state and beats last year's number by 26.3%.  I-gaming also saw its adjusted gross sales hit a new high of $2.2 billion, which is a 27.2% rise from the previous year.

 The market was led by BetMGM and MGM Grand Detroit, which brought in $640.1 million in gross sales and $576.9 million in adjusted sales.

 FanDuel and MotorCity Casino were not far behind, with $614.6 million in gross sales.  The partnership also brought in $552.8 million in extra money.  With gross sales of $454.7 million and adjusted sales of $409.6 million, DraftKings and the Bay Mills Indian Community came in third.

 Bets on sports set a record in 2018.
 Now let's look at sports betting. Like online gambling, it brought in a lot of money.  Online sports betting brought in more than $460.5 million in 2024, which is a 9.5% increase from the previous year.

 But this segment's adjusted gross receipts were $194.4 million, which is 13.0% less than the previous year.

 Players put a total of $5.3 billion on sports online, which is 15.2% more than the previous year.  Based on gross sales, Hold in Michigan for 2024 stood at 8.69%.

 FanDuel and MotorCity Casino seem to be the only players that can be stopped.  The business made more than $202.4 million in sales over the course of the year, with a 10.36% hold on its $2.0 billion deal.

 DraftKings and the Bay Mills Indian Community came in second and third, respectively, with $125.5 million in cash receipts from a $1.5 billion handle.  This led to a hold of 8.33% per year.

 BettMGM and MGM Grand Detroit came in third with $65.8 million in sales from a $757.0 million handle, which is an 8.69% hold.  It's important to note, though, that this partnership lost $14.3 million in adjusted gross earnings.

 ESPN Bet and Hollywood Greektown Casino are two other great players.  In this case, gross sales came to $20.2 million from $322.4 million in bets, leaving a 6.27% hold.  With help from the Lac Vieux Desert Band of Lake Superior Chippewa Indians, Fanatics made $19.6 million from $236.1 million in handle, which is an 8.30% hold.

 People who ran businesses paid $466.1 million in taxes and other fees to the state.  There are $451.4 million set aside for online gambling and $14.7 million set aside for sports betting.  The tribal owners also gave $55.3 million to the government.

 Casino income in Detroit is slightly up.
 In terms of land-based operations, the three commercial casinos in Detroit made $1.29 billion, which is 1.6% more than the previous year.

 The money made from slots went up 4.9% to $1.03 billion, and the money made from table games went up 5.2% to $251.0 million.  The qualifying adjusted gross receipts (QAGR) for retail sports betting, on the other hand, dropped 30.7% to $9.7 million.

 With $603.7 million in land-based income, up 7.0%, MGM had the most money.  Making more money went up 3.3% at MotorCity to $385.9 million, and it went up 2.7% at Hollywood Casino at Greektown to $292.9 million.

 For slot machines, table games, and retail sports betting, the three paid the state $103.9 million in gambling tax.

 The record ends in 2024.
 The MGCB also revealed data for December, which was a record-setting month.  The month's total income from online gaming was $264.2 million, which is 9.0% more than the same month last year but 7.1% less than November.

 The total amount of money made was $219.9 million, which is 10.8% more than in 2023 but 8.5% less than in November.

 Even though igaming gross receipts hit a high $244.0 million, they went down from one month to the next.  This segment's adjusted gross sales came to $219.6 million.

 With $65.1 million in gross sales, BetMGM and MGM stayed ahead of the market.  This is the most money that the partnership has ever recorded in a single month.

 Gross sales from sports betting fell to $20.2 million, which is 66.9% less than last year and 65.4% less than November.  This is part of a larger trend in the industry: companies all over the US have been affected by sports results that are good for customers.

 Gross sales for the section were only $267,881, but they brought in $597.7 million.  Based on gross receipts, this meant a monthly hold of 3.38 percent.

 With $7.2 million in cash sales off of a $235.5 million handle, FanDuel and MotorCity Casino led the market.  There was an 8.58% hold because of this.

 In December, Detroit's casinos made more than $109.6 million.  This is 5.7% less than the 2023 bid, but it's 1.11% more than November.

 Slot machines on land brought in $109.3 million, and retail sports betting brought in $276,509 per year.