Michigan reports $42.7M in January gross internet gaming and sports betting receipts

online gambling
Posted at 2:19 PM, Feb 17, 2021
and last updated 2021-02-17 14:19:25-05

(WXYZ) — Internet gaming and sports betting operators in Michigan reported $42.7 million in gross receipts for the 10-day period from Jan. 22 through Jan. 31.

The 10-day period was a result of the Michigan Gaming Control Board authorizing the launch.

Internet gaming gross receipts were $29.4 million. Internet sports betting operators drew $13.3 million in total gross sports betting receipts and reported a total handle of $115.2 million for the period.

“Internet gaming operators are off to a good start in Michigan,” said Richard S. Kalm, MGCB executive director. “The taxes and payments from online gaming will provide funding for K-12 students, the city of Detroit and Michigan tribal communities.”

The operators delivered approximately $4.4 million in taxes and payments to the State of Michigan for January:

· Internet gaming taxes/payments: $4.3 million
· Internet sports betting taxes/payments: $111,696

For internet gaming, the state receives 70 percent of the total tax from the commercial operators and 80 percent of the total payment from tribal operators. The tax and payment rate ranges from 20 percent to 28 percent based on yearly adjusted gross receipts.

For internet sports betting, commercial operators pay 70 percent of the 8.4 percent tax to the state and 30 percent to the city of Detroit. Tribal operators make an 8.4 percent payment to the state on adjusted gross sports betting receipts.