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Michigan operators report $127.4M in March gross internet gaming and sports betting receipts

Michigan House passes sports betting, online gambling bills
Posted at 10:42 AM, Apr 20, 2021
and last updated 2021-04-20 10:42:42-04

DETROIT — Internet gaming operators in Michigan reported on Tuesday $95.1 million in internet gaming gross receipts for March.

Internet sports betting operators received $32.3 million in total gross sports betting receipts and reported a total handle of $359.5 million for the month, according to a news release.

“It looks like March Madness added a bounce to the sports betting handle, which jumped 19.1% from February, and internet gaming seemed to increase in popularity with monthly adjusted gross receipts going up 18% from February,” Richard S. Kalm said in the release. “This led to increases in taxes and payments, which means more funding for the City of Detroit, K-12 education, economic development and tribal communities.”

Taxes and payments are based on adjusted gross receipts, which were $88.7 million for internet gaming and $19 million for internet sports betting during March.

For internet gaming, the state receives 70% of the total tax from the commercial operators and 80% of the total payments from tribal operators.

The tax and payment ranges from 20% to 28% based on yearly adjusted gross receipts.

For internet sports betting, commercial operators pay 70% of the 8.4% tax to the state and 30% to the City of Detroit.

Tribal operators make an 8.4% payment to the state on adjusted gross sports betting receipts.

A full online gaming and sports betting revenue distribution table can be found on the agency’s website here.

SEE MORE: Michiganders gambled more than $89 million online in February

SEE MORE: 'Smooth' rollout for Michigan online betting