Michigan Surpasses $1 Billion Mark for Online Sports Wagering
Michigan reached a milestone with the latest gaming report from the Michigan Gaming Control Board.
The state on Friday reported an online sports betting handle of $249.9 million for April, giving the state more than $1 billion in sports bets since launching its mobile sports betting platforms on Jan. 22. Michigan has taken in more than $1.03 billion in sports wagers.
That's the fastest any state with legal sports betting has topped $1 billion in total handle.
The $249.9 million in sports bets placed online in April marks a 30.5% decrease in wagers from March’s $359.5 million. The drop is likely related to the end of March Madness, a popular betting event, which came to a close in the beginning of April.
The three Detroit casinos earlier this week reported a retail sports betting handle of $24.3 million in April, giving Michigan a combined $274.2 million in April handle. That was down 28.5% from March ($383.7 million). Mobile was 91% of the total handle.
"While the sports betting handle dropped 30-plus percent, which we expected the month after March Madness, internet casino gaming adjusted gross receipts held steady with a slight two-tenths of a percent increase in April," MGCB executive director Richard S. Kalm said in a news release.
Michigan Sports Betting April vs. March
|Total handle||Mobile handle||Revenue (GGR)|
|Change||Down 28.5%||Down 30.5%||Down 43.2%|
Other Key Michigan Numbers
Online casino gaming brought in $94.85 million in internet gaming gross receipts for April, while sports betting operators took in $20.38 million in total gross sports betting receipts.
Adjusted gross receipts for internet gaming came in at $88.87 million and $10.88 million for online sports betting. The state of Michigan took in $18.1 million in taxes and payments from the operators. Online casinos accounted for $17.8 million, with sports betting accounting for $312,824.
The three Detroit commercial casinos reported wagering taxes and municipal fees of $5.4 million with internet gaming making up $5.2 million and sports betting accounting for $186,939. Tribal operators reported $1.8 million of gaming payments to the tribes of the governing bodies.
Since April, aggregate internet gaming adjusted gross receipts totaled $280.3 million and online sports betting adjusted gross receipts were $13.9 million.
Top Michigan Casino and Sportsbook
BetMGM led all Michigan casinos by earning 36.8 million of April revenue, with a market share of 38.8%. FanDuel was second with $15.6 million, followed by DraftKings with $15.5 million.
FanDuel was once again the top Michigan sportsbook in April, with a handle of $74.2 million, for a 29.7% market share. DraftKings was second with $61.5 million wagered, followed by BetMGM at $59.9 million and Barstool with $24.8 million.
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