Michigan Hits $1 Billion In Online Sports Bets With $249.9 Million In April Wagers
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In U.S. history, the online sports betting industry of Michigan has achieved the remarkable feat of reaching $1 billion in wagers at an unprecedented speed.
The Great Lakes State achieved yet another significant milestone as $249.9 million in online bets were placed in April, bringing the total to $1.03 billion over a span of 99 days.
On Friday, the Michigan Gaming Control Board published the revenue report, indicating a significant decrease of 30.5% compared to March. During that month, a total of $359.5 million was bet on online sports.
As the men’s basketball NCAA Tournament concludes, it is not surprising to witness a decline in the sports world’s momentum. However, April still brings excitement with the Final Four and the commencement of the Major League Baseball season.
Despite Michigan sports betting surpassing $1 billion online, the industry’s ability to generate tax revenue remains sluggish due to promotional write-offs during its initial phase. In April, the state tax revenue from sports betting amounted to $312,824, while the city of Detroit received $186,939 in taxes.
FanDuel once again leads the way in Michigan
In terms of the operator race, FanDuel Sportsbook continued to dominate in April’s sports betting handle, recording a processing volume of $74.2 million, accounting for a market share of 29.7%.
Since its launch on January 22nd, the national leader has consistently been at the forefront each month.
In terms of wagered amounts, DraftKings Sportsbook secured the second spot with $61.5 million, capturing a 24.6% market share. Following closely behind was BetMGM Sportsbook, ranking third with $54.9 million and a 22.0% share. The big four was completed by Barstool Sportsbook, which garnered $24.8 million, accounting for a 9.9% share.
| 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 |
In the first three reports, BetMGM consistently held the second position. However, Golden Nugget Sportsbook was the sole operator to experience an increase in handle from March to April.
For the third consecutive report, Barstool experienced a decline in its market share. In January, the platform accounted for 23.9% of the sports betting handle, which dropped to 13.3% in February. In March, this figure further decreased to 11.0%, reaching a single-digit percentage.
There are currently 12 operators active in Michigan, but the sports betting platforms from Parx/PlayGunLake, FireKeepers, and Soaring Eagle have not been launched yet.
