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In July 2022, Michigan sportsbooks recorded their lowest performance of the year with a total handle of $225 million. Although this marked a 23.1% decline from June, it still represented a notable 9.1% growth compared to July 2021.
Revenue from Michigan online casinos and Michigan online poker experienced a slight increase compared to the previous month. Internet gaming yielded $126.6 million in revenue, representing a 4.2% rise from June’s $121.5 million.
Playinmichigan lead analyst Paul Costanzo stated that the rise in online casino revenue on a monthly basis during the summer highlights the robustness of the industry in Michigan. He further explained that this growth compensates for the decrease in sports betting due to the absence of significant sporting events in July. Moreover, he pointed out that this increase is an improvement compared to July 2021, which marked the lowest recorded revenue for a full month in Michigan.
July 2022 Michigan sports betting numbers
The following figures are the top-line numbers provided by the Michigan Gaming Control Board.
- The handle amounted to $225 million, with $206.1 million generated through online platforms.
- The revenue generated amounted to $22.9 million, out of which $21.6 million was generated online.
- The current hold rate is 10.2%, which has increased from 5.4% compared to last month.
- Promotion credits amount to $7.6 million.
- The handle decreased by 23.1% compared to the previous month.
- The state received a total of $862,970 in taxes from sports betting in July, while local entities were allocated $444,317.
- FanDuel Sportsbook MI, the leading online sports betting app by handle, has recorded an impressive $60.1 million.
- The sports betting app generating the highest revenue is FanDuel, with an impressive $7.7 million.
July 2022 Michigan online casino revenue
In July, online casinos in Michigan maintained their impressive performance by generating substantial numbers.
- The online casino revenue for the month of July increased by 4.2% to reach $126.6 million, compared to June.
- In the month of June, a total of $24.1 million was paid in online casino taxes to the state, while local entities received $10.1 million.
- BetMGM Michigan emerges as the leading online casino app in terms of revenue, amassing an impressive $48 million.
Top takeaways from July 2022 Michigan online gambling numbers
Encouraging year-to-year growth
While the $126.6 million in iGaming revenue may not be groundbreaking, it still emphasizes the growth compared to July of the previous year.
Excluding January 2021 (which started halfway through the month), online casinos only generated $92.2 million in revenue, marking the third-lowest month of the year.
July’s revenue for 2022 is the fourth highest among all the months in terms of revenue, trailing May’s $127.4 million by less than $1 million.
The year-over-year percentage growth has remained consistent, with every month in 2022 generating a revenue that is at least 34% higher than the previous year.
- In February, there was a remarkable growth of 54.1% compared to the same period in 2021.
- In March, there was a significant increase of 38.5% compared to the previous year.
- In April, there was a significant growth of 39.5% compared to 2021.
- There was a 34.2% increase in growth from 2021 during the month of May.
- In June, there was a significant growth of 36.2% compared to 2021.
- In July, there was a remarkable growth of 37.2% compared to the previous year in 2021.
Michigan sports bettors take a hit
In July, Michigan sports bettors experienced a slight regression to the norm. Despite achieving a 5.4% hold for the sportsbooks in June, the collection rose to a 10.2% hold in July.
Four different operators in Michigan collected a hold in the double digits, resulting in an overall online hold of 10.5%. This marks the highest hold for sportsbooks in the state since November of 2021, when they collected 11.7% of the handle.
Since the launch of online sports betting in January 2021, it is also the fourth-highest hold for the books.
Three-book race heading into football season
Ever since the introduction of online sports betting, there has been a fierce competition among three operators vying for the top spot.
Fanduel Sportsbook MI, BetMGM Michigan, and DraftKings Sportsbook MI consistently outperform their competitors.
FanDuel has emerged as the leader, capturing 28% of the total online handle share in Michigan, which amounts to $1.75 billion. However, DraftKings follows closely with a 25% share ($1.56 billion), while BetMGM holds a 23% share ($1.41 billion). These three platforms clearly dominate the market.
During the month of July, FanDuel dominated the online handle share with a significant 29%, equivalent to $60.1 million. DraftKings closely followed in second place, securing 28% of the share with $57.5 million. BetMGM emerged as the third highest, capturing 22% of the share amounting to $44.6 million.
With the NFL and college football just around the corner, anticipate these three teams striving to outperform one another.
DraftKings dominated the handle share for several months during the previous football season, making a strong impact in August, September, November, and December.
Michigan July 2022 sports betting handle and revenue by operator
| Licensee | Online Brand | Handle | Revenue | Hold | Taxes |
|---|---|---|---|---|---|
| MotorCity | FanDuel | $62,291,611 | $7,982,643 | 12.8% | $583,633 |
| Bay Mills | DraftKings | $57,487,672 | $4,652,833 | 8.1% | $197,782 |
| MGM Grand Detroit | BetMGM | $51,637,208 | $6,372,429 | 12.3% | $389,334 |
| Greektown | Barstool | $22,726,202 | $1,470,888 | 6.5% | $121,241 |
| Grand Traverse | Caesars | $15,446,398 | $1,139,116 | 7.4% | $0 |
| Lac Vieux Desert | PointsBet | $4,316,520 | $407,922 | 9.5% | $0 |
| Little River | BetRivers | $3,530,125 | $276,554 | 7.8% | $5,861 |
| Little Traverse Bay | Fox Bet | $1,509,335 | $74,715 | 5.0% | $2,298 |
| Sault Ste. Marie | WynnBet | $1,440,069 | $111,003 | 7.7% | $7,139 |
| Sagniaw Chippewa | Eagle | $1,254,097 | $139,795 | 11.1% | $0 |
| Nottawaseppi Huron | FireKeepers | $1,116,587 | $45,603 | 4.1% | $0 |
| Match-E-Be-Nash-She-Wish | betParx | $800,783 | $63,921 | 8.0% | $0 |
| Keweenaw Bay | Golden Nugget | $639,855 | $60,257 | 9.4% | $0 |
| Pokagon | Four Winds | $401,628 | $52,266 | 13.0% | $0 |
| Hannahville | TwinSpires | $368,166 | $24,635 | 6.7% | $0 |
| Total | $224,966,256 | $22,874,582 | 10.2% | $1,307,287 |
Michigan July 2022 online casino revenue by operator
| Licensee | Brand | Revenue | Promos | Taxes |
|---|---|---|---|---|
| MGM Grand Detroit | BetMGM | $48,021,615 | $1,613,545 | $13,574,360 |
| Bay Mills | DraftKings | $19,037,250 | $1,903,725 | $5,696,897 |
| MotorCity | FanDuel | $18,564,679 | $1,856,468 | $4,887,152 |
| Little River | BetRivers | $8,766,285 | $876,629 | $2,209,104 |
| Grand Traverse | Caesars | $6,242,229 | $624,223 | $1,573,042 |
| Keweenaw Bay | Golden Nugget | $6,168,121 | $616,812 | $1,554,367 |
| Greektown | Barstool | $4,391,869 | $439,187 | $1,156,160 |
| Sault Ste. Marie | WynnBet | $3,919,849 | $391,985 | $987,802 |
| Pokagon | Four Winds | $3,008,220 | $300,822 | $758,071 |
| Little Traverse Bay | Fox Bet | $2,255,186 | $225,519 | $568,307 |
| Sagniaw Chippewa | Eagle | $2,143,679 | $214,368 | $413,961 |
| Match-E-Be-Nash-She-Wish | betParx | $1,459,684 | $145,968 | $351,886 |
| Nottawaseppi Huron | FireKeepers | $1,355,736 | $135,574 | $268,436 |
| Lac Vieux Desert | PointsBet | $881,543 | $70,963 | $171,900 |
| Hannahville | TwinSpires | $398,574 | $9,125 | $85,679 |
| Total | $126,614,517 | $9,424,912 | $34,257,123 |
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