Michigan sports betting handle drops to $206.3m in July

According to the latest figures from the Michigan Gaming Control Board (MGCB), Michigan’s sports betting handle dropped by 20.5% in July.

The MGCB’s report revealed that bettors in the state wagered a total of $206.3m on sports in July.

July’s sports betting handle was down 20.5% month-on-month from the $259.5m wagered in June.

The majority of July’s handle came from online betting after bettors wagered $188m via online and mobile sportsbooks. Michigan’s three land-based casino sportsbooks in Detroit made up the remaining $18.3m.

Turning to revenue, the state’s legal sportsbook operators managed to generate $20.8m in revenue. This was down 23% from the $27.2m generated in June.

Operators in the state paid $808,027 in taxes to the state of Michigan in July.

How the state’s online sportsbooks performed

When it comes to the state’s individual online operators, FanDuel dominated the market after taking $54.5m in bets and generating $7.8m in gross sports betting receipts. FanDuel operates in the state under an agreement with MotorCity Casino.

DraftKings, which operates in partnership with the Bay Mills Indian Community, closed the gap with FanDuel after processing $53.4m in bets and generating $3.1m in sports betting revenue.

BetMGM took the third spot in July after taking $41m in bets and holding onto just under $5m in revenue.

Penn National Gaming’s Barstool branded sportsbook was the only other sportsbook to surpass $10m in bets in July. Bettors in Michigan wagered $13.2 via the Barstool sportsbook, and of this, the operator held onto $1.4m in revenue.

The Australian sportsbook operator PointsBet, which has teamed up with the Lac Vieux Desert Band of Lake Superior Chippewa Indians, followed with $7.8m in bets and $849,524 in revenue.

William Hill followed close behind with $7.5m in wagers and $252,708 in revenue. The William Hill sportsbook is likely to be rebranded as Caesars Sportsbook in the coming months after the US casino giant acquired the British bookmaker’s US assets earlier this year.

Fox Bet took $2.7m in bets and generated $252,873 in revenue, while BetRivers processed $2.6m in bets and held onto $224,089 and WynnBet took $2.3m in bets and generated $357,718 in revenue.

TwinSpires posted $1m in sports betting handle and was the only other operator in the state to hit this figure. The sportsbook managed to generate $138,911 in revenue from this.

Barstool dominates the land-based race

The race between the state’s three land-based casino sportsbooks in Detroit heated up in July.

In terms of handle, Penn National Gaming’s Barstool sportsbook at Greektown dominated the land-based scene with $8.6m in bets and $437,202 in revenue.

BetMGM’s sportsbook at MGM Grand Detroit followed with $5.2m in bets and $136,972 in revenue.

Meanwhile, the FanDuel sportsbook at MotorCity generated $637,681 from $4.5m in bets.

This marks the third month where Barstool has dominated the land-based space in 2021, while FanDuel dominated the other three.

Market likely to pick up with football season

July marked the third time in a four-month period where the state’s handle fell, with June being an anomaly.

This is mainly due to the slow sports calendar and lack of high-profile sporting events to bet on. 

However, this is likely to change in the coming months thanks to the start of the NFL preseason and the NFL season in September. This will be the first football season with legal online sports betting in Michigan, so it is likely that March’s record handle of $359.5m could be beaten.