A look back at Michigan’s Record Breaking 2024

revenue from online gaming and sports betting surged to an all-time high of $2.9 billion in 2024. According to data released by the Michigan Gaming Control Board (MGCB), this figure marks a 23.8% increase over the previous record set in 2023 and more than doubles the $1.9 billion earned during the state's first year of legalized online gambling in 2021.

The explosive growth underscores Michigan's emergence as a leader in online gambling, with operators such as BetMGM, FanDuel, and DraftKings driving much of the market's success.

iGaming Sets the Pace

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Among operators, BetMGM and MGM Grand Detroit dominated the igaming market, earning $640.1 million in gross receipts and $576.9 million in adjusted receipts. FanDuel and MotorCity Casino followed closely, with $614.6 million in gross receipts and $552.8 million in adjusted earnings. DraftKings and the Bay Mills Indian Community secured third place with $454.7 million in gross receipts and $409.6 million in adjusted revenue.

Sports Betting Also Breaks Records
While igaming led the charge, sports betting also achieved new heights in 2024. Gross receipts from online sports betting climbed 9.5% year-on-year to $460.5 million, driven by a total handle of $5.3 billion, up 15.2% from 2023.

FanDuel and MotorCity Casino maintained their top position in sports betting, earning $202.4 million in gross receipts from a $2 billion handle, with a 10.36% hold. DraftKings and the Bay Mills Indian Community followed with $125.5 million in revenue off a $1.5 billion handle, while BetMGM and MGM Grand Detroit placed third at $65.8 million in gross receipts.

The booming online gambling industry generated $466.1 million in taxes and payments to the state in 2024. This included $451.4 million from igaming and $14.7 million from sports betting. Tribal operators also contributed $55.3 million to local governing bodies.

In addition to the robust online sector, Detroit’s three commercial casinos reported $1.29 billion in revenue, a modest 1.6% increase from 2023. Slots accounted for $1.03 billion of this total, with table games adding $251 million. However, retail sports betting adjusted gross receipts dropped 30.7% to $9.7 million.

MGM Grand Detroit led the way in land-based operations, earning $603.7 million in revenue, a 7% increase. MotorCity Casino and Hollywood Casino at Greektown followed, with revenues of $385.9 million and $292.9 million, respectively.

December 2024 capped off the year with record monthly revenue for igaming, which totaled $244 million. However, sports betting gross receipts for the month fell sharply to $20.2 million, reflecting a broader trend of customer-friendly sports outcomes impacting operators.

Detroit’s casinos reported $109.6 million in revenue for the month, with slots contributing $109.3 million and retail sports betting accounting for just $276,509 in adjusted gross receipts.

Michigan's record-breaking performance in 2024 highlights the state’s growing dominance in the U.S. online gambling market, with igaming and sports betting fueling unprecedented growth.

The Future & 2025

Michigan's record-breaking performance in 2024 highlights the state’s growing dominance in the U.S. online gambling market. The rapid expansion of igaming and sports betting, coupled with substantial tax revenues, underscores the economic benefits of a well-regulated gambling industry.

As the state moves into 2025, the challenge will be to maintain this momentum. With operators like FanDuel, BetMGM, and DraftKings vying for market share, innovation and customer engagement will likely be key to sustaining growth. Meanwhile, Michigan's success could serve as a blueprint for other states considering the legalization of online gambling.