{"id":22761,"date":"2024-05-22T09:55:05","date_gmt":"2024-05-22T09:55:05","guid":{"rendered":"https:\/\/instantcasinos.com\/?p=22761"},"modified":"2024-05-22T09:55:05","modified_gmt":"2024-05-22T09:55:05","slug":"michigan-online-gaming-revenue-suffers-8-7-drop-in-april-2024","status":"publish","type":"post","link":"https:\/\/instantcasinos.com\/blog\/michigan-online-gaming-revenue-suffers-8-7-drop-in-april-2024\/","title":{"rendered":"Michigan Online Gaming Revenue Suffers 8.7% Drop In April 2024"},"content":{"rendered":"<p><strong>Michigan online gaming revenue suffered an 8.7% drop in April 2024, sports betting and igaming operators reported.\u00a0<\/strong><\/p>\n<p>The figure of $234.8Million was just under 9% less than what was generated in March. In fact, the total of $257.1m which was reported is the highest that has been recorded this year.<\/p>\n<p>Despite April&#8217;s decline, the revenue total still beat January and February, which produced $229.6m and $218.5m respectively. Furthermore, year-on-year April revenue was an impressive 20% more than in 2023.<\/p>\n<p>In April 2023, Michigan sports betting and iGaming operators reported revenues of $195.7m. When looking solely at iGaming for this year, revenue fell from $215.5m in March to $192.9m in April.<\/p>\n<p>Similarly, Michigan&#8217;s sports betting handle also endured a steep drop. Operators in the Great Lake State confirmed that they took $399.1m in bets in April. This was down from $480.4m in March.<\/p>\n<h2>Michigan Online Gaming Revenue<\/h2>\n<p>Nonetheless, the sports betting revenue in April was relatively stable at $41.9m. When taking into account monthly adjusted gross receipts (AGR), sports betting and iGaming combined for a total of $201.9m.<\/p>\n<p>Online sports betting generated $27.8m with iGaming responsible for the remaining $174.1m. The AGR for sports betting increased $4.1m compared to March 2024. IGaming&#8217;s AGR dropped by 10.4% for the same period.<\/p>\n<p>In terms of year-on-year, sports betting AGR increased by 13.2% with iGaming also seeing an impressive increase of 21.4%. Monthly taxes paid to the state of Michigan were $37.6m in April.<\/p>\n<p>Compared to March&#8217;s figure of $41.1m, this was down by 8.5%. Online sports betting contributed $1.8m with iGaming responsible for $35.8m.<\/p>\n<p>Earlier this month, Detroit&#8217;s three land-based casinos reported revenues of $109.44m for April 2024. However, that figure was down 11.7% month-on-month. In terms of year-on-year, $109.7m was reported so there was a very slight increase.<\/p>\n<p>The three casinos paid the city of Detroit $9.8m in taxes and municipal services fees during April.<\/p>\n<p>Visit <a href=\"https:\/\/instantcasinos.com\/\">Instant Withdrawal Casinos<\/a> for the latest updates on online gaming revenue trends.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Michigan online gaming revenue suffered an 8.7% drop in April 2024, sports betting and igaming operators reported.\u00a0 The figure of $234.8Million was just under 9% less than what was generated in March. In fact, the total of $257.1m which was reported is the highest that has been recorded this year. Despite April&#8217;s decline, the revenue &hellip; <\/p>\n","protected":false},"author":61,"featured_media":17327,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[10],"tags":[],"class_list":["post-22761","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Michigan Online Gaming Revenue Suffers 8.7% Drop In April 2024<\/title>\n<meta name=\"description\" content=\"Michigan online gaming revenue suffered an 8.7% drop in April 2024, sports betting and igaming operators reported.\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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