Detroit Casinos Took $34.2 Million In October Sports Bets, The Most Since Online Launch
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In October, the three casinos in Detroit recorded an impressive total of $34.2 million in sports wagers. This figure stands as the highest amount for any complete month since the inception of online sports betting in Michigan.
According to data released on Wednesday by the Michigan Gaming Control Board, the sports betting handle in Detroit has reached its highest point since January of this year, making it the third-highest month ever since its launch in March 2020.
The total received a significant boost thanks to the inclusion of five weekends of football during the month, coinciding with the first full month of NFL regular-season matches.
Despite the Detroit Lions’ lackluster performance, going winless with an 0-8 record before their bye week, the state’s prominent college programs are certainly offering plenty of opportunities for betting.
The final weekend of October witnessed an intense face-off between long-standing rivals, Michigan and Michigan State, ranking among the top 10 matchups. Following the Spartans’ victory on October 30th, BetMGM Sportsbook reported that it garnered the highest number of wagers from online customers nationwide, surpassing all other college football games this season.
| Licensee | Retail Handle | Revenue (GGR) | Promos | State Tax | Local Tax |
|---|---|---|---|---|---|
| MGM Grand | $12,512,167 | $1,381,437 | -$3,593 | $52,354 | $63,822 |
| Greektown | $11,449,445 | $588,847 | $1,030 | $22,258 | $27,205 |
| MotorCity | $10,259,726 | $672,039 | $0 | $25,364 | $31,048 |
| Total | $34,221,338 | $2,642,322 | -$2,563 | $99,977 | $122,194 |
The Detroit retail sportsbook betting public had a notable success, with the casino hold being only 7.7%. This lowered the overall 2021 total to 8.5%.
The numbers mentioned above do not account for the bets placed at various retail sportsbooks in Michigan tribal casinos located throughout the state.
MGM Grand leads Detroit casinos in tight October sports betting handle race
In terms of the rivalry among Detroit sportsbooks, MGM Grand’s BetMGM Sportsbook emerged as the leader in October, securing a 36.6% share by attracting $12.5 million in bets. Greektown Casino’s Barstool Sportsbook followed closely behind with a 33.5% share, accumulating $11.4 million in bets. MotorCity Casino’s FanDuel Sportsbook secured the third position with a 30.0% share, reaching a total of $10.3 million in sports betting handle.
MotorCity experienced a surge of $2.9 million in comparison to the previous month, while MGM Grand and Greektown encountered a slight decline in their September betting revenue.
In October 2020, the Detroit casino sportsbook handle reached its highest monthly record at $46.1 million. Despite the launch of online sports betting in Detroit, January 2021 witnessed a slightly lower amount wagered at Detroit casinos, totaling $35.7 million.
October haul takes Detroit city 2021 tax haul over $1.0 million
The state of Michigan collected a total of $99,978 in taxes from the revenue generated by sports betting, while the city of Detroit received $122,194 in taxes and payments.
Tax revenue from retail sports betting in Detroit has contributed a significant amount to Michigan’s 2021 tax haul, reaching $820,426. The city of Detroit alone has collected over $1.0 million in tax revenue.
Detroit casinos, fantasy sports operators report monthly numbers
In terms of revenue from slots and table games, Detroit casinos collectively earned $111.5 million. The largest share, accounting for 47%, was generated by MGM Grand. Following closely behind, MotorCity contributed 33% of the revenue, while Greektown contributed 20%.
In addition, daily fantasy sports operators released their September figures, taking into account their reporting timeline being one month later than that of the casinos.
The operators declared $1.6 million in adjusted revenue and remitted $132,030 in state taxes during the month.
DraftKings has once again dominated the market with $943,337 in revenue, securing a 60.0% market share, as it has consistently done every month since reporting commenced in early 2020.
