Jump ahead to the main information.
In January, despite the launch of online sportsbooks in Michigan on January 22, Detroit’s retail sportsbooks managed to amass over $35.6 million in wagers, marking the second-highest figure ever recorded.
Sports betting was ongoing at Greektown Casino, MGM Grand Detroit, and MotorCity Casino in Detroit, even though the focus was on the 11 sports betting sites.
Mary Kay Bean, spokesperson for the Michigan Gaming Control Board, announced on Tuesday that numbers for online sports betting, online casinos, and the sole online poker site will be accessible by next week. As the online market develops, Michigan is anticipated to become one of the leading states in sports betting.
In October 2020, the casinos achieved a remarkable feat of collecting $46.1 million in sports bets, setting a new record. Surpassing the earnings of September 2020 ($33.5 million), January secured the second spot in terms of sports betting revenue.
A new Michigan sports betting retail leader
In 2021, MotorCity emerged as the frontrunner in sports betting handle at FanDuel Sportsbook, securing nearly $14.9 million (41.7% of market share). FanDuel dethroned MGM, who garnered $11.6 million in bets at its BetMGM Sportsbook (32.6%).
Greektown’s Barstool Sportsbook, which launched in December, recorded a handle of $9.1 million (25.6%), placing it in third position. However, when it comes to total qualified adjusted revenue, Greektown surpassed others, earning $1.6 million and paying the highest amount in taxes. Adjusted revenue is calculated by subtracting free play from gross sports betting receipts.
The casinos contributed $153,586 in state taxes from sports betting and $187,716 to the city of Detroit in January.
| Casino | Handle | Revenue | State tax (3.78%) | City of Detroit tax (4.62%) |
|---|---|---|---|---|
| Total | $35,684,193.76 | $4,063,116.46 | $153,585.80 | $187,715.98 |
| MotorCity Casino | $14,888,934.00 | $1,566,018.68 | $59,195.51 | $72,350.06 |
| MGM Grand Detroit | $11,649,850.05 | $863,439.10 | $32,638.00 | $39,890.89 |
| Greektown Casino-Hotel | $9,145,409.71 | $1,633,658.68 | $61,752.30 | $75,475.03 |
In addition to other options, residents of Michigan have the opportunity to engage in sports betting at 16 tribal casinos within the state. It is important to note that these tribal casinos are not obliged to disclose retail sports betting data to the state.
Next week’s online release will include their online partners, as players across the state can now place wagers outside of reservation land, with regulations imposed by the MGCB.
MotorCity, Greektown make sizable revenue jumps
In 2020, Greektown experienced a significant increase in its market share, capturing 20.7% of the city’s sports betting handle, which amounted to over $130 million. During the same period, MGM held the leading position with a handle of nearly $57.1 million, accounting for 43.6% of the total. Motor City closely followed with approximately $46.7 million in bets, representing 35.6% of the overall handle.
Despite facing months of pandemic closures last year, the Detroit sportsbooks have managed to amass over $165 million in sports bets since their opening on March 11, 2020. As a result, the city of Detroit has received over $1 million in taxes, while the state has garnered more than $850,000.
The casinos collectively generated a revenue of $90.8 million while operating with limited capacity. The revenue from table games and slot machines witnessed a decline of 27.7% in comparison to January last year, resulting in a total revenue of $86.8 million this year.
MGM’s revenue of $34.0 million experienced a 32% decrease compared to the previous year, narrowly surpassing MotorCity’s revenue of $33.2 million to secure the top position. Greektown followed in third place with $19.6 million in revenue, reflecting a 30.4% decline from the previous year.
Fantasy operators close 2020 with $1.4 million in state taxes paid
In 2020, DraftKings maintained its leading position in the fantasy sports contest market share from start to finish. Additionally, the overall sector contributed a substantial $1.4 million to state coffers during the same period.
In December 2020, operators recorded a revenue of $1.9 million, resulting in state tax payments exceeding $158,000.
In terms of revenue, DraftKings outperformed FanDuel, leading the way with $1.3 million compared to FanDuel’s slightly lower revenue of just under $775,000. However, it’s important to note that the overall revenue figures are lower due to Fantasy Football Players Championship reporting negative revenue and negative taxes paid.
Last month, DraftKings and FanDuel, two major players in the daily fantasy sports industry, collectively earned revenue of approximately $9.7 million and $6.3 million respectively. These figures contribute to the overall success of both companies, which recently expanded into the sports betting and online casino sectors.
After the signing of the expanded gambling laws by Gov. Gretchen Whitmer in December 2019, the state took control of regulating fantasy sports contests for the initial year.
