Michigan ranks eighth among the nation's 31 live sports betting markets, fresh data shows.
Casino sports betting lounge downtown (Photo: MGM Grand Detroit)
Since June 2018, $5.9 billion -- yes, billion -- has been wagered in Michigan at casino sportsbooks and online sites, according to a Wednesday post by Legal Sports Report.
"The figures put into perspective the popularity of sports betting and quantify its value to local governments," says the latest Axios Detroit newsletter, which notes that $371 million was bet online last month on sports statewide.
The new industry has been a boon for Detroit, since casinos pay taxes to the city on sports betting receipts.
The city expects to take in $74.6 million from online gaming and sports betting taxes next fiscal year, up from $71.1 million this year.
The new income is among the main reasons the city's revenue is recovering from pandemic lows better than expected — even exceeding pre-pandemic levels — according to a biannual fiscal report [in February].
