Michigan Hits $1 Billion In Online Sports Bets With $249.9 Million In April Wagers
The Michigan online sports betting industry is the fastest in U.S. history to reach $1 billion in wagers.
Another historic landmark was gained by the Great Lakes State after $249.9 million in bets was placed online in April. The total is now at $1.03 billion through 99 days.
The revenue report was released Friday by the Michigan Gaming Control Board, representing a 30.5% decline since March when $359.5 million was wagered on sports online.
The drop was an expected outcome as the sports world slows down in a major way after the men’s basketball NCAA Tournament. April did feature the Final Four and the start of the Major League Baseball season.
Even though Michigan sports betting has surpassed $1 billion online, the industry continues to be a slow driver of tax revenue because of write-offs from promotions in the sector’s early period. In April, sports betting raised $312,824 in state tax revenue and $186,939 in taxes for the city of Detroit.
FanDuel once again leads the way in Michigan
As for the operator race, FanDuel Sportsbook once again led the way in April sports betting handle, processing $74.2 million for a 29.7% market share.
The national leader has also led the way here each month since the Jan. 22 launch.
DraftKings Sportsbook was second with $61.5 million wagered, a 24.6% market share; BetMGM Sportsbook was third ($54.9 million, 22.0% share); and Barstool Sportsbook ($24.8 million, 9.9% share) rounded out the big four.
| Licensee | Online Brand | Total Handle | Online Handle | Retail Handle | Revenue (GGR) | Promos | State Tax | Local Tax |
|---|---|---|---|---|---|---|---|---|
| MotorCity | FanDuel | $80,999,390 | $74,239,234 | $6,760,156 | $7,455,685 | $1,808,473 | $15,899 | $19,432 |
| Bay Mills | DraftKings | $61,541,946 | $61,541,946 | ? | $3,380,974 | $2,382,679 | $0 | $0 |
| MGM Grand | BetMGM | $61,226,550 | $54,913,413 | $6,313,137 | $6,113,308 | $1,725,295 | $245,316 | $170,568 |
| Greektown | Barstool | $36,101,341 | $24,836,953 | $11,264,388 | $2,928,760 | $1,236,243 | $88,658 | $68,204 |
| Lac Vieux Desert | PointsBet | $14,061,482 | $14,061,482 | ? | $807,988 | $1,163,061 | $0 | $0 |
| Grand Traverse | William Hill | $7,005,547 | $7,005,547 | ? | $346,865 | $355,027 | $0 | $0 |
| Little Traverse Bay | Fox Bet | $5,470,631 | $5,470,631 | ? | $371,271 | $208,096 | $13,707 | $0 |
| Little River | BetRivers | $2,816,096 | $2,816,096 | ? | $172,146 | $201,002 | $0 | $0 |
| Hannahville | TwinSpires | $1,911,920 | $1,911,920 | ? | $163,524 | $175,715 | $0 | $0 |
| Sault Ste. Marie | WynnBet | $1,857,895 | $1,857,895 | ? | $177,154 | $87,252 | $7,552 | $0 |
| Keweenaw Bay | Golden Nugget | $874,114 | $874,114 | ? | -$2,623 | $40,592 | $0 | $0 |
| Pokagon | Four Winds | $345,719 | $345,719 | ? | $7,908 | $115,432 | $0 | $0 |
| Match-E-Be-Nash-She-Wish | ? | $0 | ? | $0 | $0 | $0 | $0 | |
| Nottawaseppi Huron | ? | $0 | ? | $0 | $0 | $0 | $0 | |
| Total | $274,212,630 | $249,874,948 | $24,337,682 | $21,922,961 | $9,498,866 | $371,132 | $258,204 |
BetMGM had been second in the first three reports. Golden Nugget Sportsbook was the only operator whose handle went up in April from March.
Barstool’s market share slid for the third consecutive report. In January, the platform took 23.9% of sports betting handle, then 13.3% in February. That mark dropped to 11.0% in March, falling to a single digit this time around.
In all, there are 12 operators live in Michigan, while sports betting platforms from Parx/PlayGunLake, FireKeepers and Soaring Eagle have not yet launched.
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