June 2022 witnessed an unsurprising development as Michigan sportsbooks experienced a dip, reaching a new annual low with a total handle of $292.4 million. Despite an 18% decline compared to May, this figure still represents a notable 12.7% growth when compared to June 2021.
Despite a decline in revenue from the previous month, Michigan’s online casinos and poker are still performing well compared to the previous year. Internet gaming brought in $121.5 million in revenue, experiencing a 4.6% decrease compared to the $127.4 million generated in May.
According to Playinmichigan lead analyst Paul Costanzo, the decline in monthly numbers is expected due to people spending more time outdoors in Michigan during the summer. However, there is still notable growth compared to 2021, which indicates the industry’s strength.
June 2022 Michigan sports betting numbers
These are the key figures provided by the Michigan Gaming Control Board.
- The total amount handled is $292.4 million, with $270 million being handled online.
- The revenue generated was $15.8 million, with $15.4 million attributed to online sales.
- Holding rate dropped to 5.4%, a decrease from the previous month’s 10.1%.
- Promotional credits: $10.8 million
- Month-over-month: Handle decreased 18%
- The sports betting taxes for the month of May amount to $367,487 for the state and $223,067 for local entities.
- FanDuel Sportsbook MI has emerged as the leading online sports betting app by handle, boasting an impressive $81.7 million.
- FanDuel emerges as the leading online sports betting app with an impressive revenue of $6.2 million.
June 2022 Michigan online casino revenue
In June, the online casinos in Michigan continued to achieve impressive revenue figures.
- The revenue generated by online casinos decreased by 4.6% from May, amounting to $121.5 million.
- In the month of June, the state received $22.5 million in tax payments from online casinos, while local entities received $9.5 million.
- The online casino app that generates the highest revenue is BetMGM Michigan, earning an impressive $47.2 million.
Top takeaways from June 2022 Michigan online gambling numbers
Michigan holding ground with other states
While a 18% decrease over the span of a month might appear concerning, it is actually a prevalent pattern observed nationwide.
With the conclusion of NBA and NHL playoffs, the entire sports betting industry has entered a summer slump, as football is still weeks away.
To provide a basis for comparison, here are the declines experienced by several other states from May to June:
- Pennsylvania: 20%
- Oregon: 19
- New York: 17%
- Indiana: 17%
- Iowa: 17%
Right on the verge of the NFL season, the $270 million online handle in Michigan marks the lowest since August of the previous year.
iGaming continues to trend upward
Despite the decrease in monthly figures for online casinos, the revenue total for June indicates the continued expansion of the industry.
Despite being the second-lowest revenue total for 2022, June surpasses the revenue of 11 out of the 12 months in 2021. The only month that performed better was December 2021, with a slightly higher revenue of $121.8 million.
In June 2021, Michigan witnessed its third-lowest iGaming revenue month in history, with a total of $89.2 million. Nevertheless, this amount reflects a substantial year-to-year increase of 36%.
MI sports bettors improve in June
In June, following a 10.1% hold in May, Michigan’s retail and online sports betting operators witnessed a remarkable rebound as in-state bettors delivered a impressive 5.4% hold for the month.
Michigan had its strongest performance since February of this year, with a rate of 5.1%. This is only the fourth instance in the state’s history where the rate remained below 6%.
Michigan’s legalization of sports betting has resulted in an impressive all-time hold of nearly 8%. However, the recent performance of the industry saw three operators, namely Caesars Sportsbook, FireKeepers, and PlayEagle, experiencing financial losses.
Although the quantity of bettors is satisfactory, it results in a decrease in tax revenue for the state. Michigan only generated $367,487 in state taxes during the month.
Expect more dips ahead
Expect to see further declines in sports betting handle over the next few months.
Michigan experienced its lowest full months for sports betting handle since the launch of online sports betting in late January of 2021, with July 2021 recording $206.3 million and August 2021 reaching $208.6 million.
Football season is undeniably dominant, as evidenced by the five consecutive months of breaking handle records. It will be intriguing to observe the extent of growth in Michigan sports betting during the 2022 football season in comparison to 2021.
Michigan June 2022 sports betting handle and revenue by operator
| Licensee | Online Brand | Handle | Revenue | Hold | Taxes |
|---|---|---|---|---|---|
| MotorCity | FanDuel | $81,709,975 | $6,189,671 | 7.6% | $142,555 |
| Bay Mills | DraftKings | $71,706,792 | $1,711,519 | 2.4% | $0 |
| MGM Grand Detroit | BetMGM | $68,098,744 | $4,921,492 | 7.2% | $105,676 |
| Greektown | Barstool | $34,097,841 | $1,967,244 | 5.8% | $104,296 |
| Grand Traverse | Caesars | $18,253,799 | -$289,432 | -1.6% | $0 |
| Lac Vieux Desert | PointsBet | $6,962,651 | $653,278 | 9.4% | $0 |
| Little River | BetRivers | $4,174,521 | $275,588 | 6.6% | $0 |
| Little Traverse Bay | Fox Bet | $1,769,309 | $122,725 | 6.9% | $7,564 |
| Sault Ste. Marie | WynnBet | $1,218,809 | $119,646 | 9.8% | $7,396 |
| Saginaw Chippewa | Eagle | $980,506 | -$666 | -0.1% | $0 |
| Nottawaseppi Huron | FireKeepers | $924,580 | -$6,960 | -0.8% | $0 |
| Match-E-Be-Nash-She-Wish | Play Gun Lake | $765,909 | $104,077 | 13.6% | $0 |
| Keweenaw Bay | Golden Nugget | $679,165 | $33,462 | 4.9% | $0 |
| Pokagon | Four Winds | $530,216 | $20,013 | 3.8% | $0 |
| Hannahville | TwinSpires | $516,613 | $4,953 | 1.0% | $0 |
| Total | $292,389,429 | $15,826,610 | 5.4% | $367,487 |
Michigan June 2022 online casino revenue by operator
| Licensee | Brand | Revenue | Promos | State Tax | Local Tax |
|---|---|---|---|---|---|
| MGM Grand Detroit | BetMGM | $47,242,774 | $4,724,277 | $8,333,624 | $4,103,035 |
| MotorCity | FanDuel | $18,533,759 | $1,853,376 | $3,269,355 | $1,069,657 |
| Bay Mills | DraftKings | $17,853,313 | $1,785,331 | $3,599,228 | $1,743,376 |
| Little River | BetRivers | $7,590,862 | $759,086 | $1,530,318 | $382,579 |
| Grand Traverse | Caesars | $5,880,483 | $588,048 | $1,185,505 | $296,376 |
| Sault Ste. Marie | WynnBet | $4,668,422 | $466,842 | $941,154 | $235,288 |
| Keweenaw Bay | Golden Nugget | $4,354,345 | $435,435 | $877,836 | $219,459 |
| Greektown | Barstool | $4,243,052 | $424,305 | $748,474 | $368,509 |
| Pokagon | Four Winds | $2,807,897 | $280,790 | $566,072 | $141,518 |
| Little Traverse Bay | Fox Bet | $2,368,365 | $236,837 | $477,462 | $119,366 |
| Saginaw Chippewa | Eagle | $2,056,520 | $170,512 | $301,761 | $75,440 |
| Match-E-Be-Nash-She-Wish | Play Gun Lake | $1,694,226 | $169,423 | $311,999 | $78,000 |
| Nottawaseppi Huron | FireKeepers | $1,327,846 | $132,785 | $210,331 | $52,583 |
| Hannahville | TwinSpires | $471,372 | $11,837 | $80,878 | $20,220 |
| Lac Vieux Desert | PointsBet | $414,351 | $52,345 | $57,321 | $14,480 |
| Total | $121,507,586 | $12,091,228 | $22,491,921 | $9,459,886 |
