Published in Economic Development

Michigan sports betting gets March Madness boost

BY Tuesday, April 20, 2021 10:49am

Internet gaming and online sports betting receipts each increased nearly 20 percent in March over the previous month, continuing steady growth for Michigan’s sector that launched in January.

State gaming officials said the NCAA basketball tournament in March “added a bounce” to the number of gross sports betting receipts compared to February.

Michigan Gaming Control Board Executive Director Richard Kalm COURTESY PHOTO

“It looks like March Madness added a bounce to the sports betting handle, which jumped 19.1 percent from February, and internet gaming seemed to increase in popularity with monthly adjusted gross receipts going up 18 percent from February,” Michigan Gaming Control Board Executive Director Richard Kalm said in a statement. “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.”

State officials reported $95.1 million in gross internet gaming receipts in March and $32.3 million in gross sports betting receipts. Internet gaming and sports betting operators handled $359.5 million in March, up from $301.9 million in February.

Based on adjusted gross receipts, those operators delivered roughly $17.8 million in taxes and payments to the state last month, most of which came from internet gaming.

Tribal casino operators reported $1.8 million of wagering payments to their governing bodies.

As of last month, the state had authorized 12 operators for one or both forms of online gambling.

Heading into March, gaming analysts said Michigan was poised to be a top five market for online sports betting and casino gaming, as MiBiz previously reported.

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