Michigan online operators report $160.9m gross revenue in May
The total combined gross receipts can be divided into $127.4 million from online casino sources and $33.5 million for sport betting. While the online casino segment declined 3.8% from April, sports betting revenue increased by 9.1% increase.
This pattern can also be seen in the adjusted gross revenue, which takes into account free bets. The combined adjusted revenue total was $137.2 million for May; with $114.7 million from online gaming and $22.5 million from sports betting. While internet gaming declined by 3.9%, sports betting rose by almost 35%.
Compared to May 2021 internet gaming revenue was up by 28.8% – with sports betting rising 127.4%. One factor in the size of the sector’s increase is the ending of most covid-era restrictions, which affected the sporting calendar in 2020-21.
The total sports betting handle – that is the total amount that has been bet – was $333.4 million, dropping by 10.2% when compared with the previous month.