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The Michigan Gaming Control Board has just reported that September 2024 was the state’s second-best month ever in terms of gross revenue for both iGaming and sports betting.
According to the data provided by the gaming control board, the overall gross revenue for the state’s iGaming operators was $202.6 million. At the same time, the overall gross revenue for sports betting in Michigan was $59.2 million.
While these numbers are striking, note that Michiganders don’t only play in casinos regulated by the state. Many of them choose to play in offshore casinos where they can get even more lucrative bonuses and other perks. Cameron Dhaliwal states that these offshore sites accept a wide range of payment methods, including crypto and eWallets. (Source: https://www.business2community.com/online-casinos/poker/offshore). These sites are regulated in countries with less restrictive laws. This ensures that players can enjoy less restrictive casino gameplay.
With Michiganders playing in both state-regulated and offshore casinos, these numbers are actually even higher. Still, let’s break down the numbers reported by the Michigan Gaming Control Board.
In terms of iGaming, this is only the second time the state has reported that the industry grossed more than $200 million, making it the second-best month ever for the sector. The only time iGaming operators grossed more than in September was in March 2024 with $215.2 million.
With a gross revenue of $202.6 from iGaming last month, the state is on a good way to surpass last year’s annual GGR record of over $1.9 billion. As of the end of September, the sector has grossed over $1.7 billion, with free months left to go in 2024.
It’s also important to mention that casinos in Michigan have spent $20.3 million on promotions, which puts the adjusted revenue for September at $182.3 million.
September 2024 has also been the second-best month ever for sports betting revenue. The only time the state reported a higher GGR was in December 2023 when the sector grossed $65.9 million. Last month also marks the sixth time Michigan’s sports betting operators have made more than $50 million in a single month.
With the start of new NFL and college football seasons, Michiganders have placed a total of $523.8 million worth of bets in September.
When it comes to the NFL, it only makes sense they’re betting on the Lions to win Super Bowl LIX. While the favorites are the Chiefs, the Lions share the third spot with the Ravens at +1000 odds.
What’s interesting is that they are quite popular among sports bettors. The Lions have the second-largest share with roughly 16% of punters putting their money on them. Fans from other states may be betting on the Lions as well, as they’ve recently been voted among the least-hated franchises in the NFL.
Now, with both new NFL and college football seasons underway, it’ll be interesting to see how the numbers for October 2024 will look. If the trend continues, we could see another record-breaking month of sports betting in Michigan.
As for iGaming, the steady growth suggests that we can also expect to see new records being set before the end of 2024.
If you or anyone you know has a gambling problem, call 1-800-GAMBLER.