If you tried out online sports betting or casinos this year, you are part of history. Michigan’s venture into legal online sports betting and online casinos has been one for the record books. Sports betting debuted with $115 million in bets in the first ten days, according to numbers from the Michigan Gaming Control Board. Online casinos posted $29.4 million in gross receipts.
Michigan generated more money than any other state. Analysts with PlayMichigan, which analyzes online gaming operations, said, “The circumstances for Michigan’s online launch could not have been better ahead of two of the biggest sports betting holidays of the year.”
Sports betting accounted for 76% of the state’s online gambling, but online casinos did pretty well also, generating over $4 million in tax revenue in first ten days.
Gambling operations seem to have confidence in Michiganders’ taste for gambling. PlayMichigan analysts said that launching with 10 operators ready to go from the beginning was unlike anything else they had seen before.
While revenue for the actual betting operators was down due to the massive amount of advertising they have been doing in Michigan, PlayMichigan’s analysts said that it shows just how much confidence operators have in the future of the Michigan market.
Reporting for WGRT – Jennie McClelland
