Jump straight to the main content.
Can you please rewrite the following sentence? <br><br>”I am sorry for the inconvenience caused.”
In the month of October, Detroit’s three casinos collectively garnered a remarkable $34.2 million in sports wagers. This outstanding figure marks the highest amount recorded for any complete month since the inception of online sports betting in Michigan.
According to data released on Wednesday by the Michigan Gaming Control Board, the sports betting handle in Detroit is the highest it has been since January of this year and ranks as the third-highest month overall since its launch in March 2020.
The total received a significant boost from the five weekends of football that took place during the month. Additionally, this month marked the first complete month of NFL regular-season games.
The Detroit Lions may not be creating much buzz in town with their winless 0-8 record leading up to their bye week, but the state’s prominent college programs are definitely offering plenty of betting opportunities.
The final weekend of October showcased a thrilling top-10 clash between long-time rivals Michigan and Michigan State. Following the Spartans’ victory on October 30th, BetMGM Sportsbook reported that it received more bets from online customers for this game than any other college football match this season.
| Licensee | Retail Handle | Revenue (GGR) | Promos | State Tax | Local Tax |
|---|---|---|---|---|---|
| MGM Grand | $12,512,167 | $1,381,437 | -$3,593 | $52,354 | $63,822 |
| Greektown | $11,449,445 | $588,847 | $1,030 | $22,258 | $27,205 |
| MotorCity | $10,259,726 | $672,039 | $0 | $25,364 | $31,048 |
| Total | $34,221,338 | $2,642,322 | -$2,563 | $99,977 | $122,194 |
The Detroit retail sportsbook betting public had a noteworthy performance, with the casino hold at a mere 7.7%. This resulted in a decrease in the overall 2021 total to 8.5%.
The mentioned figures do not encompass the bets placed at Michigan tribal casinos statewide, a considerable number of which have now incorporated physical sportsbooks as well.
MGM Grand leads Detroit casinos in tight October sports betting handle race
In terms of the Detroit sportsbook competition, the October handle was dominated by BetMGM Sportsbook at MGM Grand, drawing in a significant $12.5 million in bets, accounting for a 36.6% stake. Following closely was Barstool Sportsbook at Greektown Casino, with $11.4 million in bets, capturing a 33.5% share. FanDuel Sportsbook at MotorCity Casino secured third place with $10.3 million in sports betting handle, representing a 30.0% share.
While MGM Grand and Greektown experienced a slight decline in their September betting haul, MotorCity saw an impressive increase of $2.9 million compared to the previous month.
The highest monthly sportsbook handle in Detroit casinos remains the $46.1 million recorded in October 2020. In January 2021, when online sports betting was introduced in Detroit, a total of $35.7 million was wagered at the city’s casinos.
October haul takes Detroit city 2021 tax haul over $1.0 million
The state of Michigan received a total of $99,978 in tax revenue from sports betting, while the city of Detroit received $122,194 in taxes and payments.
As of now, the state of Michigan has collected a tax revenue of $820,426 solely from retail sports betting in Detroit. Additionally, the city of Detroit has generated over $1.0 million in tax revenue.
Detroit casinos, fantasy sports operators report monthly numbers
MGM Grand accounted for 47% of the $111.5 million revenue generated by Detroit casinos from slots and table games. MotorCity followed closely with 33%, while Greektown contributed 20% to the total revenue.
The September numbers of daily fantasy sports operators were also reported, although their reporting is one month delayed compared to that of the casinos.
The operators declared adjusted revenue of $1.6 million and remitted $132,030 in state taxes for the month.
DraftKings continued its market dominance in the beginning of 2020, leading the market once again with $943,337 of revenue, accounting for a significant 60.0% market share.
Can you please rephrase this?
Related Articles
Can you please rewrite your request?