Michigan Reach Milestone Being Fastest State To Surpass $1b

The Michigan Gaming Control Board’s (MGCB) new gaming study was a watershed moment for the state.

The state announced a $249.9 million online sports betting handle for April, giving it more than $1 billion in sports bets since its mobile sports betting platforms launched on Jan. 22. More than $1.03 billion has been wagered on sports in Michigan.

That’s the earliest any state with legal sports betting has reached a cumulative handle of $1 billion.

The $249.9 million in sports bets made online in April is down 30.5 percent from the $359.5 million in March. The drop is most likely linked to the end of March Madness, a common betting event that ended in early April.

The three Detroit casinos posted a retail sports betting handle of $24.3 million in April earlier this week, giving Michigan a total handle of $274.2 million in April. This was a 28.5 percent decrease from March’s total ($383.7 million). The overall handle was 91 percent mobile.

In a press release, MGCB executive director Richard S. Kalm said: “While the sports betting handle dropped 30-plus percent, which we expected the month after March Madness, internet casino gaming adjusted gross receipts held steady with a slight two-tenths of a percent increase in April.”

Other significant Michigan statistics

In April, online casino gaming gross receipts totaled $94.85 million, while sports betting operators earned $20.38 million in total gross sports betting receipts.

Internet gaming grossed $88.87 million in adjusted gross receipts, while online sports betting grossed $10.88 million. The operators paid the state of Michigan $18.1 million in taxes and payments. Sports betting brought in $312,824 and online casinos brought in $17.8 million.

The three commercial casinos in Detroit recorded $5.4 million in wagering taxes and municipal fees, including $5.2 million from online gambling and $186,939 from sports betting. Gaming fees to the tribes of the governing bodies totaled $1.8 million, according to tribal operators.

Since April, overall internet gaming adjusted gross receipts have totaled $280.3 million, including $13.9 million in online sports betting adjusted gross receipts.

Michigan’s top casinos and sportsbooks

With a market share of 38.8 percent, BetMGM led all Michigan casinos in April revenue with 36.8 million. With $15.6 million, FanDuel came in second, followed by DraftKings with $15.5 million.

In April, FanDuel was the largest Michigan sportsbook once again, with a handle of $74.2 million and a 29.7 percent market share. With $61.5 million in wagers, DraftKings came in second, followed by BetMGM with $59.9 million and Barstool with $24.8 million.

Michigan Sports Betting April vs. March