Michigan Sports Bettors Wager $237.6 Million In May, Down 4.9% From April
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In May, the online sports betting market in Michigan experienced a further decline as it entered the slower summer period, with wagers dropping 4.9% to reach $237.6 million.
The figures, disclosed on Tuesday by the Michigan Gaming Control Board, indicate a consistent and anticipated slowdown in MI online sports betting following a promising start during winter. However, a notable increase is anticipated during the upcoming football season in the fall.
FanDuel Sportsbook maintained its dominance in the market, capturing a significant 30.0% share with a sports betting handle of $71.2 million. DraftKings Sportsbook closely followed with a 28.1% market share and bets totaling $66.7 million. BetMGM Sportsbook secured the third position with a 21.7% share and $51.6 million in bets, while Barstool Sportsbook trailed behind with a 7.7% share and $18.2 million wagered.
| Licensee | Online Brand | Total Handle | Online Handle | Retail Handle | Revenue (GGR) | Promos | State Tax | Local Tax |
|---|---|---|---|---|---|---|---|---|
| MotorCity | FanDuel | $77,633,048 | $71,158,909 | $6,474,139 | $10,029,621 | $1,901,782 | $412,649 | $280,163 |
| Bay Mills | DraftKings | $66,743,390 | $66,743,390 | ? | $1,900,614 | $2,681,745 | $0 | $0 |
| MGM Grand | BetMGM | $59,528,525 | $51,580,090 | $7,948,435 | $5,657,697 | $2,511,130 | $176,571 | $122,044 |
| Greektown | Barstool | $23,955,701 | $18,181,398 | $5,774,302 | $1,743,158 | $369,217 | $67,420 | $57,208 |
| Lac Vieux Desert | PointsBet | $11,441,407 | $11,441,407 | ? | $1,011,252 | $1,104,331 | $0 | $0 |
| Grand Traverse | William Hill | $6,153,332 | $6,153,332 | ? | $217,050 | $224,200 | $0 | $0 |
| Little Traverse Bay | Fox Bet | $5,087,919 | $5,087,919 | ? | $338,049 | $132,333 | $17,280 | $0 |
| Little River | BetRivers | $2,834,528 | $2,834,528 | ? | $76,004 | $117,316 | $0 | $0 |
| Hannahville | TwinSpires | $1,483,408 | $1,483,408 | ? | $95,645 | $200,199 | $0 | $0 |
| Sault Ste. Marie | WynnBet | $1,417,570 | $1,417,570 | ? | $168,874 | $81,641 | $7,328 | $0 |
| Keweenaw Bay | Golden Nugget | $923,269 | $923,269 | ? | $10,750 | $28,553 | $0 | $0 |
| Pokagon | Four Winds | $545,937 | $545,937 | ? | -$20,000 | $251,295 | $0 | $0 |
| Match-E-Be-Nash-She-Wish | ? | $0 | ? | $0 | $0 | $0 | $0 | |
| Nottawaseppi Huron | ? | $0 | ? | $0 | $0 | $0 | $0 | |
| Total | $257,748,035 | $237,551,158 | $20,196,877 | $21,228,714 | $9,603,743 | $681,248 | $459,415 |
Barstool down, DraftKings up in operator horse race
Barstool’s presence in the Michigan market has been steadily declining. Initially, it held a 23.9% market share during the first 10 days of its launch in January. However, this figure dropped to 13.3% in February, further decreasing to 11.0% in March, 9.9% in April, and currently stands at 7.7%.
Out of the 12 operators, only DraftKings, Golden Nugget Sportsbook, BetRivers Sportsbook, and Four Winds Sportsbook observed a growth in May handle compared to April.
DraftKings, with a promotional spend of $2.7 million, made significant progress towards overtaking FanDuel as the top contender. In addition to surpassing BetMGM to secure the second position last month, DraftKings further extended its lead in sports betting over the state’s internet gaming leader in May.
Add Detroit retail books, and $257.7 million bet in May
Excluding the funds wagered at tribal sportsbooks across the state, a total of $257.7 million was bet on sports in May, as reported in conjunction with the Detroit retail sportsbook figures released on June 8th. This amount reflects a 6.0% decrease compared to the $274.2 million wagered in April.
The MGCB does not receive reports on the numbers of tribal locations from the state’s 12 federally recognized tribes, as these tribes are independent sovereign groups.
In May, online sports betting operators generated $19.5 million in revenue. They contributed $615,153 in taxes to the state of Michigan and $378,632 to the city of Detroit.
Since its launch on January 22, MI sports betting revenue has generated a total of $94.9 million, which interestingly aligns closely with the monthly revenue figures for internet gaming in April and May.
Since its launch, sports betting has generated $1.7 million in state taxes and $1.0 million in taxes and fees for the city of Detroit.
