Online Gambling generates $1.4 billion revenue figures for Michigan in 2021

With online gambling becoming available in January 2021, the iGaming and sports betting sites in the state of Michigan generated $1.4 billion in revenue.

It means that this is the third US state to post figures of over $1 billion in a year, while it is the first to do so in its maiden year. As a result, online casino gambling generated $1.1 billion, while $292.2 million came courtesy of online sports betting – $3.7 billion was wagered at the state’s available online sportsbooks.

Throughout 2021, the state has broken numerous monthly records for both online casino and sports betting, with leading brands such as FanDuel, DraftKings and BetMGM being the three major players.

State benefiting from much-needed tax revenue

While there were some initial doubts about how successful approving online gambling would be, these have more than been quashed after the figures spoke for themselves.

“It took time for online sports betting to truly ramp up, but online casinos have flourished from the very beginning,” Eric Ramsey, an analyst for the PlayUSA network, revealed.

“Few saw Michigan hitting $1 billion in revenue over the first year, especially considering that no state had ever reached that level before. To do it in year one has been impressive, creating a significant stream of tax revenue from the state along the way.”

Such revenue figures saw operators in the state pay online gambling taxes of $201.67 million, while $7.27 million was paid in online sportsbook taxes.

More than $993 million in wagers came courtesy of the state’s leading operator for online casino FanDuel, who have a partnership with MotorCity Casino Hotel, while BetMGM (partnered with MGM Grand Detroit) lead the way for sportsbook revenue, generating $417 million.

Taxes from the operators will go towards substantial regeneration in a number of the state’s cities, particularly Detroit, with residents set to benefit from improvements to a number of public amenities.