Michigan Sports Betting Saw Double-Digit Increase in March
Thanks to March Madness, Michigan’s sports betting figures increased in all categories.
The Michigan Gaming Control Board reported a monthly handle of $480 million, up 13.3% from February’s $423.8 million, which was also 25.1% more than March 2021’s $383.7 million.
Online betting made up $451.6 million of the total handle, an increase of 13.4% from February’s $398.4 million and was 25.6% higher than March 2021’s $359.5 million.
Michigan’s total adjusted sports betting gross gaming revenue was $16.6 million for March ($14.7 million online, $1.9 million retail), down 24.1% from March 2021’s $21.9 million. During February, gross gaming revenue was -$4.8 million.
Michigan sports betting state tax was $878,225 ($805,384 online, $72,891 retail), an increase of 143.7% from February’s $360,354.
Michigan Sports Betting, March vs. February
|Total handle||Mobile handle||Revenue (GGR)|
|Change||Up 13.3%||Up 13.4%||------|
FanDuel Top Operator
For the third straight month, FanDuel Sportsbook took in the largest monthly handle in Michigan. FanDuel reported $140.1 million in total handle, while BetMGM ($108.1 million) and DraftKings Sportsbook ($102.9 million) rounded out the top three.
FanDuel was also the most profitable with $8.7 million in adjusted gross sports betting receipts. BetMGM reported $4.5 million in adjusted gross sports betting receipts and DraftKings was third at $865,293.
March was a profitable month for Golden Nugget Sportsbook, which is partnered with Keweenaw Bay Indian Community. Golden Nugget reported $261,894 in adjusted gross sports betting receipts, a marked improvement from the $39,897 in January and $19,054 in February.
PointsBet gained market access through a deal with Lac Vieux Desert Band of Lake Superior Chippewa Indians and also had a profitable March. PointsBet reported negative adjusted gross sports betting receipts in January (-$254,180) and February ($-343) but had $338,796 in March.
Soaring Eagle Gaming Approved as 15th Operator
Since 2021, 15 online casinos and sportsbooks have received their authorisation from the Michigan Gaming Control Board. Soaring Eagle Gaming became the latest operator to go live with its online sports betting and online casino games plateform on April 14. The app and website are operating under the brand name Eagle Casino and Sports. Soaring Eagle Gaming has partnered with GAN as a platform provider.
“Michigan now has a full complement of 15 internet gaming and sports betting providers with the authorization of Eagle Casino and Sports,” Henry Williams, executive director, Michigan Gaming Control Board said in a media release. “All of Michigan’s federally recognized tribes are offering internet gaming and sports betting. I congratulate the Saginaw Chippewa tribe as they expand their gaming offerings.”
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