Michigan's online gambling market shone in November, with sports betting and online casinos (iGaming) generating a total revenue of $335.7 million. Online sports betting revenue reached a monthly historical high of $87.3 million, achieving steady year-over-year growth. Information on U.S. online gambling regulations can be found on the PASA official website.
Key Data: Impressive Sports Betting, Slight Decline in Overall Revenue
This performance is indeed impressive! Online sports betting revenue set a new record high compared to the $8.3 million in January, despite a 2.9% year-over-year decrease in betting amounts to $631.1 million. However, a 13.83% hold rate drove the revenue up. Online casino revenues reached $248.4 million, up 9.9% year-over-year, though slightly below the October record of $278.5 million. The total adjusted overall revenue was $298 million, up 24% year-over-year.
Operator Landscape: FanDuel Leads, Significant Head Effect
The advantage of leading operators is clear! FanDuel, in partnership with MotorCity, took the championship in the sports betting market, earning $39.3 million in gross revenue with a hold rate of 16.73%; DraftKings, in partnership with Bay Mills Indian Community, followed closely with $23.8 million in gross revenue. In the online casino sector, FanDuel and MotorCity also led, with gross revenues of $71.8 million, while MGM and BetMGM ranked second with $63 million.
Tax Contributions: State Taxes Exceed $53 Million, Multi-Channel Revenue Increase
The tax contributions are also quite substantial! In November, Michigan collected $53 million in taxes and related payments from online gambling, with online casinos contributing $48.5 million and sports betting contributing $4.5 million. The three commercial casinos in Detroit paid an additional $14.4 million, and tribal regulatory authorities received $5.5 million, providing stable support for state finances.
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This article is from "PASA-Global iGaming Leader" gambling industry news channel:https://t.me/pasa_news
Original in-depth gambling channel:https://t.me/gamblingdeep
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PASA Matrix: @pasa002_bot
PASA official website: https://www.pasa.news
