Michigan Sports Betting Continues to Post Big Numbers

The Michigan Gaming Control Board recently announced the April online sports betting totals, and it was another strong month for the state.

The online total handle was $249.9 million, pushing the state over the $1 billion mark since January 22.

Despite another strong month in April, the online sports betting handle actually dropped by more than 30%. This is expected to be a trend throughout the country as March Madness provided some big numbers in March.

Retail sports betting has been live since March 2020, but that part of the industry has seen limited growth. Last week it was announced that the retail sports betting handle for April was slightly more than $24 million.

For April, retail made up just 9 percent of the total handle, but that is actually a jump from previous months. The loosening of COVID-19 restrictions has allowed for more retail betting.

The total sports betting handle for the month was $274.2 million, which was a decrease of 28.5%. Michigan sports betting will likely stay under $300 million throughout the summer until football starts back up in 2021.

Michigan also launched online casino gaming and online poker on January 22, becoming the first state to launch all three forms of online gaming at the same time. The online casino growth has kept up with online sports betting, especially at the three commercial casinos.

The gross gaming receipts for Michigan online casing gaming totaled nearly $95 million. Michigan is getting a large majority of its tax revenue from online casinos, and this is the most important number for the state.

Online casinos accounted for $17.8 million of the $18.1 million that Michigan received in tax revenues, and that money comes from the three commercial casinos in Detroit. Tribal casinos pay money to the tribal governments.

BetMGM, FanDuel Big Winners

Two of the biggest names in the iGaming industry lead the way in Michigan even though this state is loaded with competition. BetMGM was the top online casino for the month of April, while FanDuel led the online sports betting market.

These operators are able to offer both forms of online gambling in the state, and the top names continue to top the list in each category.

When it comes to online casino gaming, BetMGM brought in $36.8 million in revenue for the month of April. The market share for this company was nearly 40 percent, showing how dominant the run was.

FanDuel ($15.6 million) and DraftKings ($15.5 million) were the next best operators for online casino gaming revenue.

FanDuel represented nearly 30 percent of the online sports betting share with a total handle of $74.2 million. DraftKings ($61.5 million) and BetMGM ($59.9 million) continue to put some pressure on the leader.

Barstool Sportsbook went live on January 22 when the industry launched, and that operator continues to post strong numbers as well. The total handle at Barstool in April was $24.8 million.

If you want to stay up to date on the latest MI sports betting news and MI online casino info, then make sure to come back and check our news blog.

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