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The online sports betting industry in Michigan has achieved an unprecedented milestone by reaching $1 billion in wagers faster than any other state in U.S. history.
The Great Lakes State achieved another significant milestone as it accumulated a total of $1.03 billion in online bets over the course of 99 days. In April alone, a remarkable $249.9 million worth of bets was placed, further solidifying its historic status.
On Friday, the Michigan Gaming Control Board published the revenue report indicating a significant 30.5% decrease since March. During that month, a total of $359.5 million was bet on sports online.
After the men’s basketball NCAA Tournament, it was anticipated that the sports world would experience a significant slowdown, which indeed happened. However, April did include noteworthy events such as the Final Four and the commencement of the Major League Baseball season.
Despite Michigan sports betting exceeding $1 billion online, the industry’s contribution to tax revenue remains sluggish due to early-stage promotional deductions. During April, the state tax revenue from sports betting amounted to $312,824, with an additional $186,939 generated for the city of Detroit through taxes.
FanDuel once again leads the way in Michigan
In terms of operator race, FanDuel Sportsbook maintained its leading position in April’s sports betting handle, with a total of $74.2 million processed, accounting for a 29.7% market share.
Since the launch on January 22, the national leader has consistently been at the forefront each month.
In terms of wagered amounts, DraftKings Sportsbook secured the second position with $61.5 million, capturing a market share of 24.6%. Following closely behind was BetMGM Sportsbook in third place with $54.9 million, accounting for a 22.0% share. Completing the prominent quartet was Barstool Sportsbook, with $24.8 million wagered, obtaining a 9.9% market 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 initial three reports, BetMGM had consistently held the second position. However, Golden Nugget Sportsbook was the sole operator to observe an increase in handle from March to April.
For the third consecutive report, Barstool’s market share has declined. In January, the platform accounted for 23.9% of the sports betting handle, which decreased to 13.3% in February. In March, this percentage dropped further to 11.0%, reaching a single-digit figure this time.
A total of 12 operators are currently operational in Michigan, with the launch of sports betting platforms from Parx/PlayGunLake, FireKeepers, and Soaring Eagle still pending.
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