Michigan Sports Betting Numbers Down 20% in February
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February was a slower month for sports betting in Michigan.
The state’s monthly handle was $423.8 million, down 20.4% from January’s $532.7 million.
Online betting made up $398.4 million of the handle, a decrease of 19.8% from January's $496.8 million.
Michigan’s retail sports betting handle for February was $25.4 million, down 29.3% from January’s $35.9 million.
Michigan’s February total adjusted sports betting gross gaming revenue was -$4.8 million (-$3.9 million online, -$872,552 retail). During January, it was $21.1 million ($19.2 million online, $1.9 million retail).
February’s total sports betting state tax was $360,354 ($360,354 online, N/A retail), down 75.1% from January’s $1.4 million (1.3 million online, $73,070 retail).
Michigan Sports Betting, February vs. January
| Total handle | Mobile handle | Revenue (GGR) | |
|---|---|---|---|
| February | $423.768M | $398.395M | Minus-$4.822M |
| January | $532.682M | $496.817M | $21.102M |
| Change | Down 20.4% | Down 19.8% | ------ |
FanDuel Highest Handle
FanDuel Sportsbook posted the highest handle of the operators in Michigan during February, taking in $122.4 million in bets. DraftKings Sportsbook had the second-highest handle at $94.7 million, while BetMGM was third with $86.7 million.
Of the top three sportsbooks, FanDuel had the highest adjusted gross sports betting receipts at $1.7 million. BetMGM recorded $102,425 in adjusted gross sports betting receipts and DraftKings was -$7.2 million.
Penn National’s Barstool Sportsbook posted the highest adjusted gross sports betting receipts at $4 million. The Barstool Sportsbook also posted a handle of $30.3 million for the month.
March Big Month for Bettors
March Madness is one of the marquee sporting events of the year and figures to boost sports betting figures across the country during the month.
Last March, Michigan recorded an online handle of $359.5 million, an increase of 19.1% from February 2021’s $301.8 million. A similar increase can be expected given the excitement around the NCAA men’s and women’s basketball tournaments.
On the men’s side, both Michigan and Michigan State qualified for the tournament. Michigan went int as a 2-point favorite over Colorado State, while the Spartans are 1-point favorites over the Davidson Wildcats. For those looking to place futures bets, Michigan is +12000 to win the national title on FanDuel. The Spartans have longer odds at +25000.
The state’s best chance at a national title is on the women’s side with the No. 3-seeded Michigan Wolverines. Michigan is currently a 25.5-point favorite in its matchup with American on Saturday. The Michigan women are +5500 to win it all on FanDuel Sportsbook.
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