$235.1 Million Wagered In June As Summer Slowdown Cools Michigan Sports Betting
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For the third month in a row, the online sports betting handle in Michigan experienced a decrease, resulting in lower wagering totals in the Great Lakes State during June.
The Michigan Gaming Control Board has reported that $235.1 million was bet on sports last month. This marks a decline in online sports betting handle for the state, with each month since March’s peak of $359.5 million experiencing a decrease. In comparison to May’s $237.6 million wagered, the handle for June dropped by 1.0%.
June was filled with exciting sports events such as the NBA and NHL playoffs, U.S. Open golf, and a pleasant surprise for the Detroit Pistons who secured the No. 1 pick in the NBA Draft Lottery. Nevertheless, as we wait for the football season to begin in September, it is anticipated that sports betting figures will be relatively modest.
According to our calculations of Michigan sports betting revenue, the total amount wagered on sports by Michiganders in June was $259.5 million. This figure reflects a slight increase of 0.7% compared to May, and is in addition to the numbers released by Detroit’s retail sportsbooks last week.
FanDuel Sportsbook still leads the way, jumping in market share
In terms of the operator horse race, FanDuel Sportsbook remains the frontrunner in Michigan, having captured the leading position by generating $77.3 million in sports bets, representing a substantial 32.9% market share. DraftKings Sportsbook trails behind in second place, with $56.5 million in bets accounting for a 24.0% market share. BetMGM Sportsbook secures the third position by accumulating $52.1 million in bets, equating to a 22.2% market share.
| Licensee | Online Brand | Total Handle | Online Handle | Retail Handle | Revenue (GGR) | Promos | State Tax | Local Tax |
|---|---|---|---|---|---|---|---|---|
| MotorCity | FanDuel | $85,758,935 | $77,291,086 | $8,467,849 | $11,053,560 | $2,156,850 | $506,406 | $342,174 |
| MGM Grand Detroit | BetMGM | $60,180,574 | $52,093,347 | $8,087,227 | $6,808,500 | $1,934,556 | $272,299 | $189,531 |
| Bay Mills | DraftKings | $56,476,772 | $56,476,772 | ? | $4,962,293 | $1,654,288 | $78,396 | $0 |
| Greektown | Barstool | $24,533,101 | $16,709,310 | $7,823,792 | $2,645,718 | $373,260 | $116,416 | $92,635 |
| Lac Vieux Desert | PointsBet | $10,213,141 | $10,213,141 | ? | $911,170 | $913,954 | $0 | $0 |
| Grand Traverse | William Hill | $7,913,412 | $7,913,412 | ? | $598,641 | $292,447 | $24,434 | $0 |
| Sault Ste. Marie | WynnBet | $5,460,421 | $5,460,421 | ? | -$383,777 | $80,322 | $0 | $0 |
| Little Traverse Bay | Fox Bet | $3,731,852 | $3,731,852 | ? | $332,639 | $137,288 | $16,409 | $0 |
| Little River | BetRivers | $2,463,189 | $2,463,189 | ? | $107,480 | $113,610 | $0 | $0 |
| Hannahville | TwinSpires | $1,250,656 | $1,250,656 | ? | $143,197 | $241,379 | $0 | $0 |
| Keweenaw Bay | Golden Nugget | $914,393 | $914,393 | ? | $83,855 | $33,819 | $0 | $0 |
| Pokagon | Four Winds | $607,100 | $607,100 | ? | -$18,782 | $256,429 | $0 | $0 |
| Nottawaseppi Huron | FireKeepers | $656 | $656 | ? | $299 | $300 | $0 | $0 |
| Match-E-Be-Nash-She-Wish | ? | $0 | ? | $0 | $0 | $0 | $0 | |
| Total | $259,504,202 | $235,125,335 | $24,378,868 | $27,244,793 | $8,188,502 | $1,014,361 | $624,341 |
In June, FanDuel experienced a significant growth in market share, jumping from 30.0%. Notably, it was among the five operators that witnessed an increase in handle during the same period. The other operators that observed a surge in handle were BetMGM, William Hill Sportsbook, WynnBET Sportsbook, and Four Winds Sportsbook.
In May, WynnBET experienced a remarkable 285% surge in its handle, reaching a total of $5.46 million in sports bets. This figure represents a market share of 2.3%. Notably, this amount is significantly higher than the $1.42 million recorded in the previous month.
Barstool Sportsbook experienced a decline in market share in Michigan since February, the state’s initial month of online wagering. Despite a strong start in January with a 23.9% market share, the book has faced challenges, dropping to 13.3% in February, 11.0% in March, 9.9% in April, and 7.7% in May. In June, Barstool only captured 7.1% of Michigan’s online sports bets, reflecting a consistent downward trend.
Nearly $1.5 billion in Michigan online sports bets since January launch
Since its launch on January 22, residents of Michigan have bet nearly $1.5 billion on sports using regulated wagering apps. Recently, FireKeepers Sportsbook became the 13th sports betting operator to enter the market. Interestingly, even before its official rollout last week, the book recorded a small amount of June action ($656 of handle). According to a representative from FireKeepers, the Michigan Gaming Control Board had approved a soft launch for the book prior to its official release.
The June report on Michigan sports betting handle revealed that the month generated $24.95 million in gross revenue for Michigan sportsbooks. These sportsbooks paid $927,575 in state taxes and $518,269 in city taxes and municipal service fees specifically for the city of Detroit. While tax revenue was also earned by state tribal governments, these figures are not disclosed by the MGCB for sports betting.
In particular, there was a significant increase in revenue by 28.2% compared to May’s figure of $19.46 million. June marked the most successful month for online sports bets in Michigan, with operators retaining 10.5% of the total bets. Since January, operators have maintained an 8.0% share of sports bets.
