It’s been a little over a year since the first sportsbook in Michigan went live. The industry here has grown considerably and continues bringing in major tax money for the state. Today, we’ll take a close look at Michigan’s sports betting revenue reports for the month of July.
It’s an exciting time for the entire US sports gambling industry. Some are a little surprised to see the amount of revenue Michigan brought in last month.
Here’s what you need to know!
What Sports Betting Options are Available in Michigan?
Most gambling enthusiasts are well aware of the US sports gambling industry expansion. For those unsure, it all started when the US Supreme Court struck down PASPA in mid-2018. This was a monumental decision in that it immediately gave every state in the country the ability to legalize and regulate sports betting.
Some states immediately chose to do so. Delaware and New Jersey immediately allowed for sportsbooks to launch. These states already had legislation approved to regulate sports betting once PASPA was removed.
Michigan legalized sports betting in 2019 and launched its first sportsbook in early 2020. Initially, only land-based sportsbooks were available here. It wasn’t long before popular online sports betting options became available, too.
A huge number of popular online sports betting apps are now up and running in this state. That includes some run by the biggest gaming companies in the world including BetMGM and Caesars Sportsbook. The majority of sports bettors here prefer to make their wagers using these online platforms.
There are many popular casinos spread around Michigan. The majority of these venues have sportsbooks available, too. Suffice to say, there is no shortage of fantastic options for sports fans in the state to wager on their favorite teams and players.
We are now beginning to hear more about how much money Michigan’s sports betting operators earned last month. Here’s a quick look at the reports!
Here’s a Look at Michigan’s Sports Betting Revenue Reports for July
2021 is quickly proving to be one of the most successful years in history for the US sports betting industry. States around the country are reporting record revenue numbers throughout the first eight months of the year. That includes Michigan, which legalized sports betting back in 2019.
This week, Michigan’s sports betting revenue reports for the month of July finally surfaced. Unfortunately, the state experienced a slight drop from the month of June. That makes the third-straight month that Michigan’s sports betting industry has seen a decline in over GGR.
The sports betting operators in Michigan managed to bring in $19.6 million over the month. That represents a modest 23% drop from the month prior. Unsurprisingly, online sports betting brought in the majority of revenue here.
Certain operators managed to bring more than others. FanDuel proved the most successful at $8.5 million. MGM Resorts International’s BetMGM came second at $5.1 million. DraftKings came third with $3.1 million.
It’s not a shock seeing July’s sports betting revenue figures lower than in months prior. Historically speaking, July is the worst-performing month for the US sports betting industry with most major sports leagues shut down. The start of the 2021/2022 NFL season in September should bring a major rebound.
Interestingly, Michigan’s casino industry posted solid gains over the month of July. Here’s a look at how much money the casinos here brought in.
Breaking Down Michigan’s Casino Revenue Figures for July
Michigan is currently home to a huge number of different casinos. The majority are trivial casinos owned by Native American groups. Several commercial casinos operate in the state, including several in the Detroit area.
Reports surfaced recently showing that overall, casino gross gaming tax revenue in the state came out to $9,369,381.14. That represents a solid increase from the months prior. In fact, it’s the highest casino revenue figure that Michigan has seen to date.
The MGM Grand Detroit managed to bring in the most taxable revenue at $4,354,233.35. This property opened its doors in 1999. It’s the biggest and most expensive casino-resort in Michigan, occupying more than 100,000 square feet of gaming space.
The Motorcity Casino-Hotel came next in terms of taxable revenue with a combined $3,122,158.88 this past July. The Greektown Casino came next at $1,893,588.91. Total gross adjusted receipts over the month of July came out to $115,678,779.54.
It’s great news for all of the casino companies operating here. Michigan’s sports betting industry is seeing a steady rise in revenue. It seems likely that revenue will continue to rise here as the year goes on.
Are you surprised to see where Michigan’s sports betting revenue reports stand? Do you expect these numbers to increase next month? Let us know in the comments section below!
A longtime sports and gambling enthusiast, Kevin looks to present up-to-date and reliable information for readers. If he’s not writing, he’s probably watching MMA or playing blackjack. ...
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