LANSING, Mich. (Michigan News Source) – The Michigan Gaming Control Board reported that sports and internet game betting declined in February, with gross receipts declining 8.8% compared to January.
Sports betting saw the steepest decline, with gross receipts falling 32.6% from $33.64 million in January to $22.66 million last month.
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In fact, $344.9 million was wagered online in February, down from $475.6 million in January. February 2023 marked the third lowest grossing month since the state of Michigan legalized sports betting in 2020.
Despite this, some operators, including FanDuel Sportsbook, BetRivers Sportsbook, SI Sportsbook, and Golden Nugget Sportsbook, reported year-over-year growth.
Online gaming and sports betting operators are required to pay 8.1% of adjusted gross receipts in taxes, resulting in $26.9 million in taxes to the state of Michigan for the month of February.
Most of the amount was taxes and fees on internet gaming, which totaled $26.3 million. The Gaming Control Board reported 15 total operators offering online gaming and sports betting in Michigan last month and has made revenue reports available on its website.
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