Michigan’s sports betting operators reported an increase in sports betting handle and revenue in June.
According to the latest figures from the Michigan Gaming Control Board (MGCB), bettors in the state wagered $259.5m on sporting events in June.
June’s handle was up from the $257.7m wagered in May, but down from the state’s all-time high of $359.5m reported in March 2021.
The state’s three commercial land-based casinos in Detroit accounted for $24.4m of the state’s total handle in June, while online sportsbooks brought in $235.1m.
Sportsbook operators in Michigan generated $27m in gross sports betting receipts, up from the $21.2m generated the previous month. June’s revenue figure is the second-highest for the market since launching last year.
So far, Michigan’s best month for revenue was March 2021, where operators generated $35.2m from betting operations.
In June, online sports betting generated $24.9m in gross sports betting receipts while $2.3m came from land-based casino sportsbooks.
Operators in the state also paid a combined $1.1m in taxes to the state.
How did the online sportsbooks perform?
When it comes to individual online operators, FanDuel, which operates under Motor City Casino’s licence, led the market in terms of handle.
Bettors in the state wagered $77.3m on sports via FanDuel’s online sportsbook. The operator also managed to generate $10.3m in revenue from online betting.
DraftKings, which is partnered with the Bay Mills Indian Community, took second place with $56.8m in betting handle. When it comes to revenue the operator managed to generate just under $5m, which was the third-highest revenue figure in the state.
BetMGM and the MGM Grand Detroit licence followed in third place with $52m in bets and $6m in sports betting revenue. BetMGM posted the second-highest revenue figure for online sports betting in June.
Penn National Gaming’s Barstool Sportsbook, which operates under the Greektown Casino licence, followed in a distant fourth for handle with $16.7m in bets and $1.8m in revenue.
The only other operator to see betting handle surpass the $10m mark was PointsBet, which is partnered with the Lac Vieux Desert Band of Lake Superior Chippewa Indians.
The sportsbook operator managed to generate $911,170 in revenue from $10.2m in sports wagers.
Sports betting in Michigan
In December 2019, Governor Gretchen Whitmer signed Michigan’s sports betting legislation into law.
Michigan’s land-based sports betting market went live in March 2020 at the start of the coronavirus pandemic. As a result, the market got off to a slow start due to the venue closures and the suspension of most major sporting events.
Then, in January 2021, the state gave online sports betting and online casino operators the green light to launch and begin taking bets. Most of the state’s legal betting operators launched their sportsbooks and online casinos on the same day.
At the time of writing, there are 15 legal online sportsbook products available to bettors in Michigan. These include DraftKings, FanDuel, BetMGM, PointsBet, William Hill, Fox Bet, and WynnBet.