Michigan reported gross revenue from Web gaming and sports activities betting of $ 42.7 million in January


(WXYZ) – Michigan internet gaming and sports betting providers reported gross revenues of $ 42.7 million for the 10-day period January 22-31.

The 10 day period was the result of the Michigan Gaming Control Board's approval of the launch.

Gross Internet gaming revenues were $ 29.4 million. Internet sports betting providers totaled gross sports betting revenues of $ 13.3 million and reported a total of $ 115.2 million for the period.

"Internet gaming operators have got off to a good start in Michigan," said Richard S. Kalm, managing director of MGCB. "The taxes and payments from online games will fund K-12 students who fund the city of Detroit and Michigan tribal communities."

Operators delivered approximately $ 4.4 million in taxes and payments to the state of Michigan in January:

Internet Game Taxes / Payments: $ 4.3 million
Internet Sportsbook Taxes / Payments: $ 111,696

For Internet games, the state receives 70 percent of the total tax from commercial operators and 80 percent of the total payment from tribal operators. The tax and payment rate is between 20 and 28 percent based on the gross income adjusted annually.

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 a payment of 8.4 percent to the state for adjusted gross income from sports betting.