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Michigan Internet Gaming and Sports Betting Operators Report Combined $216.4M in March Total Gross Receipts

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Michigan commercial and tribal operators reported a combined $216.4 million total internet casino gaming gross receipts and gross sports betting receipts in March. Gross receipts increased 26.7% compared with February results.

March internet gaming gross receipts were a Michigan record $171.8 million, surpassing the previous total gross receipts record of $153.7 million set in January. Gross sports betting receipts totaled $44.6 million. In March 2022, internet gaming gross receipts were $131.67 million, and gross sports betting receipts were $30.48 million.

Combined total internet gaming and internet sports betting adjusted gross receipts were $186.09 million, including $154.65 million from internet casino gaming and $31.44 million from internet sports betting. Internet gaming adjusted gross receipts increased 30.4% from the $118.58 million recorded in March 2022, and internet sports betting adjusted gross receipts improved 114.5% from the $14.66 million total recorded in March a year ago.

March 2023 combined adjusted gross receipts were 31.3% higher than the $141.73 million in total adjusted gross receipts logged in February 2023.

For the first quarter of 2023, internet gaming adjusted gross receipts totaled $426.3 million, and internet sports betting adjusted gross receipts were $57.7 million. Michigan operators reported $338.3 million in internet gaming adjusted gross receipts and $29.9 million in internet sports betting adjusted gross receipts during the first quarter of 2022.

Total internet sports betting handle at $407.7 million was down 9.7% from the $451.6 million handle recorded in March 2022. March 2023 handle was up 18.2% from the February 2023 handle of $344.9 million.

The operators reported submitting $33.2 million in taxes and payments to the State of Michigan during March including:

  • Internet gaming taxes and fees: $31.3 million.
  • Internet sports betting taxes and fees: $1.9 million

The three Detroit casinos reported paying the City of Detroit $9.1 million in wagering taxes and municipal services fees during March including:

  • Internet gaming taxes and fees: $8.2 million
  • Internet sports betting taxes and fees: $865,916

Tribal operators reported making $3.7 million in payments to governing bodies in March.

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Canada

Gaming Corps goes live with OLG iCasino in Ontario

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Gaming Corps has launched its casino game portfolio with Ontario Lottery and Gaming Corporation (OLG) in Ontario, bringing a selection of the Swedish studio’s titles to OLG’s digital casino audience.

The rollout includes football-themed games timed to the summer football calendar. Titles going live with OLG include Goals to Glory: Football Fever, Penalty Champion: Goals to Glory, and Goals to Glory: Instant Blitz, part of Gaming Corps’ Instant Blitz series.

OLG is a provincial crown agency that has operated in Ontario since 1975, with responsibilities spanning land-based gaming facilities, province-wide lottery games, internet gaming, bingo, and electronic gaming products at Charitable Gaming Centres.

Graham Greensmith, Chief Commercial Officer at Gaming Corps, said: “Launching with OLG gives Gaming Corps outstanding visibility in one of the most exciting regulated markets in North America. The timing could not be better. As global football moves into focus, we are bringing OLG a fantastic line-up that speaks directly to the moment, while also introducing some of our most recognisable titles, mechanics and characters.”

Ian Shelswell, Director, iCasino Product, Partnerships & Development at OLG, added: “OLG is always looking to bring high-quality content to our players, and Gaming Corps’ portfolio adds further variety to our iCasino offering at an exciting time in the sporting calendar. The combination of football-themed releases, instant win content, recognisable slot franchises and engaging game mechanics makes this a strong addition to our casino catalogue. We are pleased to welcome Gaming Corps to OLG and look forward to developing the partnership.”

The post Gaming Corps goes live with OLG iCasino in Ontario appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

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Alex Cuoci

Wealthsimple and Kalshi Partner to Bring Prediction Markets to Canada

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Wealthsimple announced the release of Wealthsimple Predict, providing retail investors the ability to trade event contracts on Kalshi. The standalone application is scheduled to launch this summer. Through the app, users will have access to approximately 4000 Kalshi event-based contracts in categories Wealthsimple is authorized to offer in the Canadian market, specifically climate, financial markets, and economic indicators.

“Prediction markets are the fastest-growing segment of global financial markets, letting traders turn an opinion into a position on the factors that shape our world – where inflation is headed, what happens to rates, or how the year unfolds. Until now, Canadians have had limited access. Wealthsimple Predict gives Canadians a clean, well-designed way to access these markets, with education and guardrails built in from day one,” said Brett Huneycutt, co-founder and Chief Product Officer, Wealthsimple.

“Kalshi was founded on a simple belief: views on the future should have markets, and those markets should be available to everyone. That’s why we’re partnering with Wealthsimple, Canada’s leading financial innovator – to give everyday investors in Canada access to fair, secure, and regulated prediction markets,” said Alex Cuoci, Kalshi.

In March, the Canadian Investment Regulatory Organization (CIRO) authorized Wealthsimple to offer event and forecast contract trading, also known as prediction markets. These contracts are regulated as futures contracts (derivatives). The approval covers contracts with a 30-day settlement period or longer, within the categories of economic indicators, financial markets, and climate. Wealthsimple is the second investment dealer to receive regulatory approval from CIRO for prediction markets.

To access trading through Wealthsimple Predict, new clients must complete a standard Know Your Client (KYC) process. Education is built into every stage of the experience, including a guided orientation of a client’s first trade. The app also shows users key disclosures and definitions, including trading risk reminders, contract resolution information, notices that positions can be sold at any time, and liquidity risk warnings on lower-activity markets. Wealthsimple Predict will only be available to Canadian residents.

Kalshi is authorized to operate in the US as an event contracts exchange, with federal authority from the Commodity Futures Trading Commission (CFTC), the regulatory authority for the U.S. derivatives market. Prediction markets follow the same regulatory framework applied to other financial assets traded in the US, such as equities, bonds, and traditional derivatives, with clear rules for price formation, settlement, and governance.

The post Wealthsimple and Kalshi Partner to Bring Prediction Markets to Canada appeared first on Americas iGaming & Sports Betting News.

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Alberta

MediaTroopers lines up eight operator partners ahead of Alberta launch

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MediaTroopers said it is preparing to launch in Alberta’s regulated gaming market on July 13, as Canada’s next regulated commercial gaming market opens.

The digital marketing and customer acquisition firm said it plans to enter Alberta alongside eight “premium operator” clients, which it said are also preparing for their own market entries. MediaTroopers did not name the operators.

The company said its Alberta offering will mirror its work in Ontario, including localized acquisition strategies, compliance-focused marketing, regional player education, and market-tailored performance campaigns.

MediaTroopers also said it has seen “strong interest” from Alberta players through pre-registration activity, without providing figures.

“Alberta represents an exciting next step for regulated iGaming in Canada, and Media Troopers is ready to support operators from day one,” said Shmulik Segal, CEO of Media Troopers. “Our experience in Ontario has given us a strong understanding of what it takes to enter a new Canadian market successfully, from compliance and localization to scalable player acquisition. With eight of our premium clients already preparing for launch and early pre-registration traction underway, we see Alberta as a market with tremendous potential.”

The post MediaTroopers lines up eight operator partners ahead of Alberta launch appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

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