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Perhaps the most obvious question regarding Michigan online casinos‘ revenue for the month of June is also a succinct query — what summer slump? The 15 online casino licensees in Michigan have nearly outdone themselves again in June, maintaining streaks and posting significant year-over-year increases.
June’s total of $151 million in online casino win in Michigan produces a number of accolades for the industry. In fact, it’s difficult to find anything negative about the month for Michigan’s online gambling landscape.
Michigan online casinos hit $150 million in another month
The $151 million gross revenue total from legal online casino play in Michigan proves several statements true. Those include:
- Fourth consecutive month with at least $150 million in revenue
- Ninth consecutive month with at least $140 million in revenue
- 24.3% increase from June 2022 online casino revenue
- Fifth-highest figure of any month in Michigan history
What’s more, the figure puts Michigan on the precipice of $1 billion in online casino revenue for calendar year 2023. Through the first six months, Michigan online casinos have won over $934.6 million from players.
Therefore, gross online casino revenue should cross $1 billion a month earlier this year than it did in 2022. If the casinos can maintain their growth rate, they might possibly record their first $2 billion calendar year as well.
That might be too optimistic, though, as months have ebbed and flowed in terms of their annual increases. For example, May Michigan online casino revenue was up just 18% compared to the same month in 2022.
Maintaining 20% or more growth every month is a tall order but that’s about the most negative comment on Michigan’s online gambling space that can be offered right now. Even the state’s online sportsbooks had a decent June.
Online sports betting revenue jumps 15% in June
According to a release from the Michigan Gaming Control Board, online sportsbooks in the state won $18.3 million from bettors during June. That’s an uptick of 15.9% from the $15.4 million they kept in June 2022.
Using sports betting apps and websites, Michiganders wagered $227.9 million on sporting events in June. Thus, books won about eight percent of the money wagered. While bettors put down over $42 million more on online sports bets in June 2022, books also won just about 5.7% of the money that month.
Because of the year-over-year improvements, June was also anything but a slump for the state’s treasury. Online gambling contributed $22.8 million in tax revenue to Michigan. That added to $8.3 million in gaming taxes in Michigan from the three Detroit commercial casinos for June.
Overall, June 2023 wasn’t a slump. It was one of the strongest months for Michigan’s online gambling industry to date. If anything, July and August could represent a summer slump in comparison.
