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“I cannot attend the meeting tomorrow because I have a doctor’s appointment.” <br><br>I am unable to attend the meeting tomorrow as I have a scheduled appointment with my doctor.
June 2022 witnessed Michigan sportsbooks achieving a new low for the year, as they reported a total handle of $292.4 million. Despite experiencing an 18% decline compared to May, this figure represents a noteworthy 12.7% growth compared to June 2021.
Despite a decline in revenue, Michigan online casinos and poker maintain their strength when compared to the previous year. Internet gaming generated $121.5 million in revenue, experiencing a 4.6% decrease from the $127.4 million generated in May.
According to Playinmichigan lead analyst Paul Costanzo, the decline in numbers on a monthly basis is expected as people are inclined to spend more time outdoors in Michigan during the summer season. Nonetheless, there is still noteworthy growth compared to 2021, which better reflects the industry’s resilience and success.
June 2022 Michigan sports betting numbers
These are the primary figures provided by the Michigan Gaming Control Board.
- Total: $292.4 million with $270 million generated online.
- The total revenue earned was $15.8 million, with $15.4 million generated from online sales.
- Holdings have decreased to 5.4% from the previous month’s 10.1%.
- The total value of promotional credits amounts to $10.8 million.
- The handle decreased by 18% month-over-month.
- Sports betting taxes in May amounted to $367,487 for the state and $223,067 for local entities.
- FanDuel Sportsbook MI, the leading online sports betting app by handle, has generated an impressive $81.7 million.
- FanDuel, the leading online sports betting app, generates an impressive $6.2 million in revenue.
June 2022 Michigan online casino revenue
Online casinos in Michigan saw strong performance in June, continuing to generate impressive figures.
- In May, online casino revenue experienced a 4.6% decrease, amounting to $121.5 million.
- In the month of June, online casino tax payments amounted to $22.5 million for the state and $9.5 million for local entities.
- BetMGM Michigan emerges as the leading online casino app in terms of revenue, amassing an impressive $47.2 million.
Top takeaways from June 2022 Michigan online gambling numbers
Michigan holding ground with other states
Although witnessing a 18% decrease within a month might appear worrisome, it has become a prevalent pattern observed nationwide.
With the conclusion of NBA and NHL playoffs, sports betting as a whole has entered a summer slump, as we eagerly await the start of football season, which is still weeks away.
To provide a basis for comparison, let’s examine the decline experienced by several other states from May to June:
- The percentage of Pennsylvania: 20%
- Nineteen is the number representing Oregon.
- New York: Seventeen percent
- The state of Indiana accounts for 17% of the total value.
- The percentage for Iowa is 17%.
Since August of last year, the $270 million online handle in Michigan is the lowest, just as the NFL season is about to begin.
iGaming continues to trend upward
Despite a decline in the monthly figures for online casinos, the total revenue for June indicates a continuing growth 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. Only December 2021 performed better with a revenue of $121.8 million, albeit marginally.
In June 2021, Michigan experienced its third-lowest iGaming revenue month in history, with earnings amounting to just $89.2 million. However, this figure still reflects a remarkable 36% increase compared to the previous year.
MI sports bettors improve in June
In June, Michigan witnessed a remarkable recovery as in-state bettors propelled the hold percentage to an impressive 5.4%, following a 10.1% hold by retail and online sports betting operators in May.
Michigan had its strongest performance since February of this year, with a rate of 5.1%. This achievement is particularly noteworthy as it only happened four times in the history of the state that the rate remained below 6%.
Michigan’s all-time hold is just below 8% since the legalization of sports betting. This month, three operators, namely Caesars Sportsbook, FireKeepers, and PlayEagle, experienced financial losses.
Despite the satisfactory number of bettors, the state of Michigan experienced a decrease in tax revenue for the month, with only $367,487 collected in state taxes.
Expect more dips ahead
Expect to see further decreases in sports betting handle in the upcoming months, so don’t be caught off guard.
Online sports betting launched in late January of 2021, and Michigan experienced its lowest full months for sports betting handle in July 2021 ($206.3 million) and August 2021 ($208.6 million).
The next five months witnessed a continuous surge in handle, setting new records each month. Undeniably, football season reigns supreme. It will be fascinating to observe the extent of growth in Michigan sports betting throughout 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 |
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