Michigan posts 8% increase in online gaming revenue for July

Commercial and tribal operators in Michigan reported $148.2 million in gross Internet gaming and sports betting revenue for July, an increase of 8% from June’s $136.9 million.

The breakdown of the numbers showed internet gaming was up 4% to $126.6 million, while sports betting totaled $21.6 million, a 40% increase from the previous month.

However, it wasn’t all increases in Michigan, as total sports betting fell 23% in July to a total of $206.1 million, from $270 million in June.

Although the handful has dropped, the iGaming market in the state will only grow according to OddsSeeker, which tipped the US state last month to become the largest iGaming market in the United States.

The speed at which Michigan’s market has grown since it legalized online gambling in December 2019 led OddsSeeker sportswriter Frank Weber to remark, “Based on the year-over-year growth trajectory for New Jersey, since its inception, it seems clear that Michigan will overtake New Jersey in online gambling revenue and become the largest and most important betting market and iGaming in America.

After releasing its first-half results, the state said its online casino and poker sites generated $757 million in revenue for the first six months of 2022, a figure that shows how much appetite for gambling has been strong in Michigan since it only started playing online in January 2021.

Combining total gambling revenue for the first seven months of the year, Michigan’s online gaming generated $798.9 million, while its total Internet sports betting for the same period is at $88.1 million.

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