MI Sports Betting handle August 21
After a couple of difficult months over the summer, sports betting in the state of Michigan is once again back on the rise.
These numbers are still relatively low compared to what took place in the first few months after online sports betting launched in January. Michigan, like the rest of the US, is expected to see much larger numbers come in during the rest of 2021 as the National Football League is now back in action.
Once again, online sports betting accounted for nearly all of the betting done in the state, but the online handle did fail to reach $200 million. This was the second time that the online handle hasn’t hit that mark since the beginning of February.
Retail sports betting that takes place at the three commercial properties in Detroit is included in the monthly total, and those three sportsbooks actually saw less action in August than what took place in July. The retail handle was just $16.3 million in August after it was up over $18 million in July.
The sports gaming gross revenue for August did drop by more than 30 percent from July and that is a troubling trend for the state. The state received a little more than $603,000 in tax revenue from the industry in August, and that was also a figure that dropped.
It won’t be until the end of October when the September numbers are revealed, but those figures should give a better idea of how the industry is doing.
New Sports Betting Leader
FanDuel Sportsbook has dominated the online sports betting scene in Michigan since the industry launched, but that wasn’t the case in August. In fact, last month was the first time that another operator recorded the highest handle since the industry launched in January.
It was DraftKings Sportsbook that had a total sports betting handle of $61.4 million in August, and that actually blew away the total from FanDuel. FanDuel has just $47.7 million in wagers a month ago to finish in second place in total handle.
Even though DraftKings saw more action, FanDuel was still the big winner as that operator posted $3.3 million in receipts to lead the way. Michigan is not the only state in the US in which DraftKings and FanDuel are battling it out for the top spot.
BetMGM Sportsbook was once again in the third spot when it came to sports betting, but that company continues to lead the way in online casino gambling. The total sports handle for BetMGM in August was $43.7 million, and it also closed the gap on FanDuel Sportsbook.
Barstool Sportsbook is starting to see a big boost in action as well as that sportsbook went over $13 million in total handle for the second straight month. It still has some work to do if it wants to catch up to the three leaders, but things are trending in the right direction.
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