Michigan Sports Bettors Wager $229.8 Million In August, State Crosses $7 Billion In All-Time Handle
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Michigan online casinos brought in $130.9 million in revenue in a strong August, pushing that all-time number above $2 billion
In August 2024, Michigan sportsbooks experienced a boost in activity as the football season approached, with a reported total handle of $229.8 million. Although this only marked a modest 2.1% rise from July, it represented a significant 10.1% surge compared to August 2021. Moreover, Michigan surpassed the milestone of $7 billion in all-time sports betting handle with the figures from August.
Revenue from online casinos and poker in Michigan experienced a slight increase compared to the previous month. The total revenue generated from internet gaming reached $130.9 million, marking a 3.4% rise from the $126.6 million generated in June. Furthermore, Michigan has now exceeded $2 billion in cumulative revenue from online casinos.
According to Paul Costanzo, lead analyst at Playinmichigan, August will likely be the last month with modest numbers for Michigan sportsbooks. As football season kicks off in September, the industry is expected to approach the $400 million mark once again. Nonetheless, the total handle of $229.8 million in August 2024 shows a 10% improvement compared to August 2021, indicating that the legal sports betting industry is thriving in its second year. Additionally, Michigan has now surpassed $7 billion in all-time handle. On the other hand, online casinos remain impervious to seasonal fluctuations, providing significant advantages for operators and the state.
August 2024 Michigan sports betting numbers
The following figures are the highlights from the Michigan Gaming Control Board.
- The total amount of handle is $229.8 million, with $218.8 million generated online.
- The revenue amounted to $25.7 million, with $24.0 million generated through online channels.
- The holding rate has increased from 10.2% last month to 11.2%.
- Month-over-month: Handle increased 2.1%
- In August, the state received $1.49 million in sports betting taxes, while local entities received $437,746.
- FanDuel Sportsbook MI leads the online sports betting market with an impressive handle of $72.4 million.
- FanDuel, the leading online sports betting app in terms of revenue, has generated an impressive $7.7 million.
August 2024 Michigan online casino revenue
In August, the online casinos in Michigan maintained their impressive performance by generating substantial revenues.
- In July, online casino revenue experienced a 3.4% increase, reaching $130.9 million.
- In August, the online casino tax payments amounted to $24.2 million for the state and $9.2 million for local entities.
- BetMGM Michigan, the leading online casino app, has generated an impressive revenue of $49.3 million.
Top takeaways from August 2024 Michigan online gambling numbers
Two big milestones crossed
In August 2024, Michigan achieved two significant landmarks. The total handle for sports betting, encompassing both online and retail platforms, exceeded an impressive $7 billion.
In a remarkable 20-month span (or 19.5 months if we account for its late January 2021 launch), Michigan’s cumulative online casino revenue reached an impressive milestone, surpassing $2 billion in August.
In contrast, Pennsylvania took 30 months to reach the $2 billion threshold, while New Jersey took a total of 81 months to achieve the same milestone.
It is evident that Michigan made the necessary preparations to have a sufficient number of double-digit operators ready at the time of launch, which was 20 months ago.
Michigan has witnessed the generation of $527.6 million in tax revenue, alongside $2 billion in revenue for the industry.
End of the summer sports betting lull
With football season in full swing, Michigan’s sports betting numbers are expected to experience a significant boost starting in September.
According to the recently released August numbers, PlayUSA’s latest projections suggest that Michigan will generate a handle of over $2 billion in the remaining four months of the year.
Below are the most recent projections for month-to-month handle.
- Sept. 2024: $402.1 million
- Oct. 2024: $542.9 million
- Nov. 2024: $548.3 million
- Dec. 2024: $531.9 million
In total, this would result in a 6.6% rise in handle compared to the $1.9 billion wagered between September and December 2021.
Growth trends hold steady for online casinos
Michigan’s iGaming revenue reached an impressive $130.9 million in August, marking the third-highest amount generated in the state over the past 20 months.
In August 2024, online casinos have sustained their year-over-year growth trend, with revenue surpassing the $97.2 million generated a year ago.
Revenue in each month of 2024 has experienced a minimum increase of 34% compared to the corresponding month in the previous year.
- In February, there was a significant growth of 54.1% compared to the previous year, 2021.
- In March, there was a significant growth of 38.5% compared to 2021.
- In April, there was a significant increase of 39.5% compared to 2021.
- In May, there was a significant growth of 34.2% compared to 2021.
- In June, there was a significant growth of 36.2% compared to the previous year 2021.
- In July, there was a significant growth of 37.2% compared to the previous year of 2021.
- In August, there was a significant growth of 34.7% compared to 2021.
Michigan August 2024 sports betting handle and revenue by operator
| Licensee | Online Brand | Handle | Revenue | Hold | Taxes |
|---|---|---|---|---|---|
| MotorCity | FanDuel | $74,842,881 | $8,080,518 | 10.8% | $550,720 |
| Bay Mills | DraftKings | $52,549,120 | $6,278,381 | 11.9% | $373,183 |
| MGM Grand Detroit | BetMGM | $48,939,869 | $5,789,263 | 11.8% | $380,063 |
| Greektown | Barstool | $20,155,233 | $1,690,085 | 8.4% | $132,744 |
| Grand Traverse | Caesars | $15,342,990 | $1,687,385 | 11.0% | $0 |
| Lac Vieux Desert | PointsBet | $5,702,678 | $908,620 | 15.9% | $0 |
| Little River | BetRivers | $4,339,841 | $392,418 | 9.0% | $18,253 |
| Sault Ste. Marie | WynnBet | $1,675,368 | $161,603 | 9.6% | $12,413 |
| Little Traverse Bay | Fox Bet | $1,666,553 | $314,301 | 18.9% | $21,380 |
| Nottawaseppi Huron | FireKeepers | $1,086,387 | $90,400 | 8.3% | $0 |
| Sagniaw Chippewa | Eagle | $1,076,450 | $101,938 | 9.5% | $0 |
| Match-E-Be-Nash-She-Wish | betParx | $975,428 | $70,284 | 7.2% | $0 |
| Keweenaw Bay | Golden Nugget | $680,109 | $67,709 | 10.0% | $1,468 |
| Pokagon | Four Winds | $454,725 | $19,594 | 4.3% | $0 |
| Hannahville | TwinSpires | $309,845 | $2,351 | 0.8% | $0 |
| Total | $229,797,476 | $25,654,849 | 11.2% | $1,490,223 |
Michigan August 2024 online casino revenue by operator
| Licensee | Brand | Revenue | Promos | Taxes |
|---|---|---|---|---|
| MGM Grand Detroit | BetMGM | $49,327,377 | $4,932,738 | $12,985,432 |
| Bay Mills | DraftKings | $19,362,312 | $1,936,231 | $5,794,172 |
| MotorCity | FanDuel | $19,328,906 | $1,932,891 | $5,088,334 |
| Little River | BetRivers | $9,002,084 | $1,277,744 | $2,162,815 |
| Keweenaw Bay | Golden Nugget | $7,196,304 | $719,630 | $1,813,469 |
| Grand Traverse | Caesars | $5,912,623 | $591,262 | $1,489,981 |
| Greektown | Barstool | $3,898,732 | $389,873 | $1,026,341 |
| Sault Ste. Marie | WynnBet | $3,770,271 | $377,027 | $950,108 |
| Pokagon | Four Winds | $2,879,949 | $287,995 | $725,747 |
| Sagniaw Chippewa | Eagle | $2,785,621 | $278,562 | $551,553 |
| Little Traverse Bay | Fox Bet | $2,560,195 | $256,019 | $645,169 |
| Nottawaseppi Huron | FireKeepers | $1,756,493 | $175,649 | $377,645 |
| Match-E-Be-Nash-She-Wish | betParx | $1,677,384 | $167,738 | $422,701 |
| Lac Vieux Desert | PointsBet | $936,755 | $94,800 | $185,230 |
| Hannahville | TwinSpires | $529,188 | $9,315 | $114,372 |
| Total | $130,924,194 | $13,427,475 | $34,333,070 |
