New Record: Michigan Internet Casino Revenue Reaches $248 Million In January

The Michigan Gaming Control Board reported on Monday $248.2 million in gross online casino revenue for January, the fourth consecutive month the Wolverine State recorded an all-time high in the gaming vertical.

Operators made quick work of December’s previous record of $244 million, and gross winnings surged 36.4% year-over-year compared to the $181.9 million claimed in the first month of 2024. The state was eligible to tax $233.1 million, also an all-time monthly high, and up 42% y-o-y.

The state was eligible to tax a higher percentage of revenue as all but one operator had its percentage of allowable promotional deductions reduced from 10% to 6%. Michigan has progressive tax rates on iGaming from 20% to 28% based on operator performance for the fiscal year, which begins Oct. 1.

The state reaped $43.7 million in taxes — $13.7 million more than January 2024 — while the city of Detroit received $11.8 million in receipts. Tribal disbursements totaled nearly $5 million in January and have surpassed $150 million since iGaming launched in January 2021.

Detroit-based platforms on point

Five of the state’s 15 online casino platforms posted all-time monthly highs to open 2025, with a few others coming close. BetMGM and FanDuel were again key catalysts for January’s record haul as the Detroit-tethered platforms both topped $60 million for the second consecutive month.

BetMGM bettered its state record with $66.4 million in gross revenue, a year-over-year increase of 37.4%. It also became the first online casino operator to clear $60 million in taxable revenue for a month at $62.4 million. FanDuel upped its monthly standard to $62.9 million, a bounce of 46.6%.

PENN National, which operates as Greektown Casino’s tether, had its second-best month with close to $6.3 million. That trailed only the $6.4 million claimed in December 2023.

It was a record-setting January for the trio when combined with $135.6 million in gross winnings and $127.4 million in adjusted revenue. That was a 40.7% increase from the $96.3 million won in January 2024.

DraftKings again carried the banner as the top tribal-based tether with an all-time high of $42.2 million. It was the fourth consecutive month with gross winnings above $40 million and represented a 16.4% increase from 12 months prior.

BetRivers came within $8,600 of its all-time best and fended off Caesars Palace’s all-time best for fourth as both operators edged over $16.1 million in winnings. Golden Nugget Online rounded out the group of platforms with eight-figure revenue totals for January, with a record $11.6 million.

Fanatics had its third straight month with more than $7 million in winnings. The 12 tribal-tethered platforms also set a new combined high of $105.7 million in gross revenue, an increase of 36.5%.

Sportsbooks clean up with Lions’ loss

January has been a good month in general for mobile sportsbooks nationwide, but Michigan operators feasted on the betting public thanks in part to the Detroit Lions losing to the Washington Commanders in the divisional round of the NFL playoffs.

The house racked up $85.6 million in gross revenue — an all-time monthly high — thanks to an astronomical 14.9% hold on $574.6 million handle. That was the highest win rate of the mobile era, which began in January 2021.

Gross revenue was up 77.5% compared to January 2024, and the $57.3 million in taxable operator winnings was also an all-time best. The state collected $3.2 million in tax revenue from sports betting, and the city of Detroit saw an inflow of more than $1.1 million into its coffers.

For the first time in state history, the three biggest online sportsbooks in Michigan — FanDuel, DraftKings, and BetMGM — all posted eight-figure gross revenue totals in the same month. FanDuel demolished the public with an 18.6% hold en route to claiming a state-record $40.6 million in gross revenue.

DraftKings cleared $20 million for the first time, landing at $22.1 million on the strength of a 14.5% hold from $151.7 million worth of accepted bets. BetMGM did not set a monthly record for revenue, but still had an impressive debut to 2025 with $10.3 million in winnings and a 13.5% hold.

BetMGM also reported $7.1 million in taxable revenue, a notable dent in zeroing out the $45.7 million in deductions reported last June. It still has an overall AGR of negative-$24.1 million and has not paid state taxes since last May.

Fanatics Sportsbook also set an all-time record for monthly revenue at $4.3 million, notching a 13.2% hold on $32.8 million handle.