More than $113 million was made in August from online gaming and sports betting in Michigan.

Michigan's iGaming business is thriving. Officials have revealed that the state made more than $113 million in August thanks to the legalisation of sports betting and internet gambling.

The $97.2 million made by the gaming industry in April was the most since January and a significant increase over the $95.1 million made in March. With a betting handle of over $192 million, the sports betting sector has reached record highs in both revenue and popularity. The month-over-month growth rate was 2.3%.

The Winner Is...BetMGM!

BetMGM is the most productive individual operator. Over the course of the month, the company made over $39 million and captured over 40% of the market. BetMGM's poker site contributed to its success, but the casino was the main source of revenue.

FanDuel and DraftKings were the top two sports betting sites. Just over $14 million was made by FanDuel, while $12 million was made by DraftKings. Over 14% of the market was taken by FanDuel, with DraftKings not far behind at 13%.

Live dealer games contributed to an increase in overall online casino revenue. online dealer games such as roulette, blackjack, and baccarat went online in late July. Evolution provides the games from a studio in Southfield.

In August, for the first time, all ten of the state's casinos provided the games during the whole month. Players embraced the new opportunities, which boosted the iGaming industry's revenue across the state.

Costs and Contributions

Adjusted gross receipts are used as the basis for calculating taxes and other contributions to the state of Michigan. The modified sums take into account player wagers and free play incentives given by online operators.

In August, internet gambling businesses forked out $17.9 million. The payouts from online sportsbooks came in substantially lower, at $540,706. The commercial operators pay 70% of the total tax on internet gambling, while the tribal operators pay 80%.

The 8.4 percent tax paid by sports betting establishments is split 70 percent to the state and 30 percent to the city of Detroit, where the establishments are located. The state collects tax revenue from tribal businesses at the rate of 8.4 percent.

The city of Detroit collects wagering taxes and fees from the casinos in the city to fund local services. The total cost of fees paid by the operators was $5.1 million. At $4.9 million, internet gambling was by far the largest contributor, while sports betting contributed little more than $216,000.