Michigan Sports Betting Revenue Reaches 2022 Low

Last month, sportsbook operators in Michigan couldn’t stop the summer slump and ended the month down 23% compared to June. With only baseball in the US market, sports fans just haven’t been playing as much. Michigan sports books handle peaked in January this year and have been decreasing month-over-month since March. The Michigan Gaming Control Board (MGCB) announced that state operators handled $225 million in July, a 23.1% decrease from $293 million in June. July’s sports betting handle marked the lowest this year. Despite the continued decline this year, sports betting is still up year-over-year in Michigan, July saw a 9.1% increase from July 2021. While it’s not much, it’s still proof of the progress and growth in the state. 

Online casino gaming operators managed to bounce back this month and July ended with over $126 million in total revenue from the state’s 15 online operators, up 4.2% from June ($121.5 million). To find a complete breakdown of July 2022 Michigan iGaming/online casino numbers, click here

July 2022 sports betting numbers overview:

• Total Handle: $225 million ($206.1 million online, 91.6%)

• Month-over-month handle: decreased 23.1%

• Total Revenue: $22.9 million ($21.6 million online, 94%)

• Hold: 10.2%

• Promotional credits: $7.6 million

• July sports betting state tax revenue: $862,970

• July sports betting local tax revenue: $444,317

• Top online sports betting app in July: FanDuel ($60.1 million)

• Top online sports betting app by revenue in July: Fanduel ($7.7 million)

Despite the month-to-month loss in the state, Michigan sports books still had a better July than last year. State operators’ total handle of $225 million last month was a 9.1% increase compared to last July ($188 million). 

Sports bettors did lose a little more to the books last month, as the overall hold reached 10.2%. The last time it was this high was November 2021, when operators collected 11.7% of the total handle. The online hold for last month was slightly higher than the total hold, at 10.5%. July marked the fourth highest total hold for sports books since launching last January.

FanDuel, BetMGM & DraftKings continue to dominate the Michigan iGaming market

The numbers don’t lie, FanDuel, BetMGM, & DraftKings continue to dominate in Michigan sports betting. In fact, since February of last year, the three sportsbooks haven’t dropped out of their top three spots. FanDuel has undoubtedly been the number one sportsbook in the state when it comes to total handle. BetMGM and DraftKings, however, switch places almost every other month. 

Barstool retail sportsbook at Greektown Casino brought in the most wagers last month for a retail sportsbook, at $9.6 million. Detroit’s three downtown casinos made up $18.9 million of the total handle last month. Online sports betting accounted for the remaining $206.1 million. 

CasinoOnline BrandTotal HandleTotal RevenueHoldTaxes Revenue
Bay MillsDraftKings$57,487,672$4,652,8338.1%$197,782
MGM Grand DetroitBetMGM$51,637,208$6,372,42912.3%$389,334
Grand TraverseCaesars$15,446,398$1,139,1167.4%$0
Lac Vieux DesertPointsBet$4,316,520$407,9229.5%$0
Little RiverBetRivers$3,530,125$276,5547.8%$5,861
Little Traverse BayFox Bet$1,509,335$74,7155.0%$2,298
Sault Ste. MarieWynnBet$1,440,069$111,0037.7%$7,139
Sagniaw ChippewaEagle$1,254,097$139,79511.1%$0
Nottawaseppi HuronFireKeepers$1,116,587$45,6034.1%$0
Keweenaw BayGolden Nugget$639,855$60,2579.4%$0
PokagonFour Winds$401,628$52,26613.0%$0

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