online win of roughly $1.98 billion<\/a>.<\/p>\n<\/div>\nThe commercial iGaming and online sportsbooks accounted for the bulk of the online revenue. BetMGM, FanDuel, and Barstool won $899.7 million from iGaming and $285 million from internet sports betting for a total online win of $1.18 billion.<\/p>\n
Sportsbook Drawback<\/b><\/h2>\n As for January 2023 online sports betting, oddsmakers fared significantly worse than they did in January 2022. The MGCB said net win — aka “hold” — dropped more than 31% from $48.8 million in January 2022 to $33.6 million last month.<\/p>\n
Handle, or the total amount wagered, fell 4.3% year-over-year to $475.6 million.<\/p>\n
The three commercial online sportsbooks won $23.2 million. MotorCity’s FanDuel Sportsbook was responsible for $19.9 million of the win on total wagers in excess of $150 million.<\/p>\n
BetMGM kept $3.4 million of the $110.5 million bet during the month. Hollywood’s Barstool Sportsbook reported a net loss of about $66K on $29.5 million bet.<\/p>\n
January was the first month when Michigan faced sports betting competition in neighboring Ohio. Retail and online sportsbooks in the Buckeye State went live on January 1.<\/strong><\/p>\niGaming and online sportsbooks generated $26.1 million in state taxes and payments in January. The City of Detroit additionally collected $7.5 million from the online commercial gaming platforms.<\/p>\n","protected":false},"excerpt":{"rendered":"
Michigan iGaming revenue reached a new monthly record in January as online casinos operated by commercial and tribal interests won nearly $153.7 million. Tallying $153,694,392.91, officials with the Michigan Gaming Control Board (MGCB) said January’s iGaming haul represents a 27% year-over-year increase from the $121.2 million the online casinos won in January 2022. January 2023 […]<\/p>\n","protected":false},"author":25,"featured_media":260992,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[19,1074],"tags":[82456,82124,81871,81863,80968],"acf":[],"yoast_head":"\n
Michigan iGaming Sets Monthly Revenue Record of $153.7M<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n