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In February, Michigan’s online sportsbooks recorded a total of $301.9 million in wagers, marking the first complete month of statewide online betting.
According to the Michigan Gaming Control Board, the recently released numbers establish a strong benchmark for a state that is expected to become one of the biggest sports betting markets in the country.
The 12 sports betting sites in the state accumulated a total of $9 million in gross revenue from the bets. Out of these, FanDuel Sportsbook emerged as the market leader with a handle of $87.2 million.
Since its launch on January 22, a total of $417.0 million has been wagered online on sports in MI within 38 days.
Online sports betting operators experienced a net revenue decline of $10.8 million due to the significant promotional efforts, compared to a loss of $5.2 million in the initial 10 days.
In February, operators contributed a sum of $142,239.58 towards state taxes from the revenue generated through MI sports betting. This amount, when added to the $111,695.89 paid in January, brings the total tax payment to $253,935.47.
Leaders of the Michigan online sports betting market
In February, FanDuel dominated the market with an online handle of $87.2 million, capturing a 28.9% market share. BetMGM secured the second position with $75.7 million (25.1%), closely followed by DraftKings with $72.9 million (24.2%), and Barstool with $40.3 million (13.3%).
In January, Barstool Sports founder Dave Portnoy and other personalities utilized viral marketing to flood the state, resulting in Barstool capturing a significant 23.9% market share in sports betting handle. However, in February, the brand experienced a decline and saw its market share drop to 13.3%.
PointsBet has narrowed the significant gap between the top four and other competitors, emerging as a stronger contender in fifth place. With a handle of $7.0 million, they now hold a 2.3% market share.
Ten operators were ready to go when online sports betting launched on January 22. Fox Bet joined the race on January 29, followed by Four Winds Sportsbook on February 15.
In January, FanDuel took the lead as the frontrunner in the first 10 days of sports betting following its launch. Michigan’s total sports bets for the month amounted to $115.2 million.
| Licensee | Online Brand | Total Handle | Online Handle | Retail Handle | Revenue (GGR) | Promos | State Tax | Local Tax |
|---|---|---|---|---|---|---|---|---|
| MotorCity | FanDuel | $98,461,788 | $87,219,772 | $11,242,016 | -$262,569 | $5,320,590 | $0 | $0 |
| MGM Grand | BetMGM | $82,438,534 | $75,743,280 | $6,695,253 | $5,308,795 | $2,868,868 | $140,841 | $90,301 |
| Bay Mills | DraftKings | $72,938,905 | $72,938,905 | ? | -$161,496 | $4,916,465 | $0 | $0 |
| Greektown | Barstool | $46,056,486 | $40,281,772 | $5,774,713 | $2,009,343 | $3,197,355 | $4,340 | $5,304 |
| Lac Vieux Desert | PointsBet | $6,951,264 | $6,951,264 | ? | $1,105,629 | $1,637,634 | $0 | $0 |
| Little Traverse Bay | Fox Bet | $5,782,918 | $5,782,918 | ? | $641,864 | $768,643 | $0 | $0 |
| Grand Traverse | William Hill | $5,556,595 | $5,556,595 | ? | $449,317 | $432,665 | $1,399 | $0 |
| Little River | BetRivers | $3,593,987 | $3,593,987 | ? | $120,307 | $564,339 | $0 | $0 |
| Hannahville | TwinSpires | $1,897,812 | $1,897,812 | ? | -$18,098 | $259,268 | $0 | $0 |
| Sault Ste. Marie | WynnBet | $1,380,374 | $1,380,374 | ? | $128,581 | $191,751 | $0 | $0 |
| Keweenaw Bay | Golden Nugget | $497,693 | $497,693 | ? | $69,788 | $81,431 | $0 | $0 |
| Pokagon | Four Winds | $12,680 | $12,680 | ? | $3,840 | $8,700 | $0 | $0 |
| Match-E-Be-Nash-She-Wish | ? | $0 | ? | ? | ? | $0 | $0 | |
| Nottawaseppi Huron | ? | $0 | ? | ? | ? | $0 | $0 | |
| Total | $325,569,037 | $301,857,054 | $23,711,983 | $9,395,302 | $20,247,708 | $146,580 | $95,605 |
Combined $325M in February retail, online sports betting handle
The sports bets made in Michigan during February contribute to a significant increase in the overall total, reaching a minimum of $325 million.
The aforementioned sum does not encompass data from tribal casino retail sportsbooks, as they are not obligated to report their figures to the gaming control board. Nevertheless, since online wagers can be placed outside of reservations by individuals throughout the state, they fall under the jurisdiction of the MGCB. As a result, the sports betting handle in Michigan will consistently be marked with an asterisk due to these circumstances.
In February, the retail sportsbooks in Detroit recorded a sports betting handle of $23.7 million.
Due to significant betting on the Tampa Bay Buccaneers during Super Bowl LV and the remarkable achievements of Michigan’s college basketball teams, Greektown Casino, MGM Grand Detroit, and MotorCity Casino collectively incurred a loss of $77,627 in the month.
This week, both Michigan and Michigan State will commence their participation in the NCAA Tournament.
How Michigan compares with other legal betting states
Despite making progress, Michigan is still far behind New Jersey, the frontrunner in sports betting nationwide. In both December and January, New Jersey managed to rake in close to $1 billion in wagers, a pace that Michigan has yet to match.
In January, Pennsylvania set a new record by receiving $615.3 million in sports bets.
In January, Illinois set a new record with a total of $581.6 million in sports bets. Following suit, Indiana reported $273.9 million in combined retail and online bets for February.
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