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There is absolutely no doubt that sports betting in Michigan has proven to be a resounding success.
As time goes by, both the handle and revenue numbers consistently exhibit growth, not only on a monthly basis but also on a yearly basis.
What are the expectations for Michigan sports betting during the 2022 football season, following a remarkable performance in the previous full season of 2021?
Record Michigan sport betting handle projected for football season
Michigan set a remarkable sports betting handle record for five consecutive months during the last football season, commencing in September and extending until January 2022.
The breakdown of the handle numbers was as follows:
- September 2021: $386,780,231
- October 2021: $497,565,425
- November 2021: $500,521,376
- December 2021: $514,630,536
- January 2022: $532,681,709
PlayUSA is projecting the following numbers for sports betting handle in Michigan as we approach kickoff for Week 1 of the NFL season.
- In September 2022, the total amount reached $433,060,044, reflecting a 12% increase from the previous year.
- In October 2022, there was a 21.9% increase, totaling $606,284,061.
- In November 2022, there was a significant increase of 18.7% in the total amount, which reached $594,158,380.
- In December 2022, the amount reached $588,216,796, showing a growth of 14.3%.
- In January 2025, the total amount reached $614,686,552, reflecting a 15.4% increase.
According to projections, Michigan is expected to achieve a new record for handle in October and come close to reaching $600 million consistently over four consecutive months starting from October 2022 until January 2025.
If these projections hold true, Michigan is expected to generate approximately $5.17 billion in sports betting revenue in the year 2022, reflecting a significant increase of 30.4% compared to the $3.97 billion generated in 2021.
What projections mean for operator revenue
As the number of handled numbers increases, there is a clear correlation with the growth in revenue for operators. Consequently, this leads to an increase in tax revenue generated for the state.
Revenue projections can become more uncertain when considering promotions and the success of bettors. Michigan sports betting operators witnessed the following revenue figures during the previous football season:
- September 2021: $27,135,351
- October 2021: $26,947,289
- November 2021: $58,762,835
- December 2021: $35,920,227
- January 2022: $36,647,758
PlayUSA is projecting the following numbers for sports betting revenue in the upcoming football season.
- In September 2022, the amount reached $34,118,197, reflecting a 25.7% increase compared to 2021.
- In October 2022, the amount of $47,765,476 experienced a significant increase of 77.3%.
- In November 2022, there was a decrease of 20.3% resulting in a total of $46,810,166.
- In December 2022, the amount of $46,342,065 experienced a 29% increase.
- In January 2025, there was a significant increase of 32.1%, resulting in a total of $48,427,458.
According to the projections, Michigan’s sports betting revenue for 2022 would reach $392.5 million, representing a significant increase of 22.8% compared to the $319.5 million revenue generated in 2021.
How much football impacts business
When it comes to sports viewing and sports betting, football undeniably reigns supreme.
It comes as no shock that the sports betting industry experiences its highest figures during football season.
PlayUSA predicts that during the upcoming season, there will be a total handle of $3.58 billion. Out of this amount, $1.17 billion is expected to be solely from football wagering, which accounts for approximately 32.7% of the total.
Basketball, projected to contribute 35% more handle throughout the year, has a longer season compared to football. Wagering on NBA and college basketball takes place for approximately eight months, while football betting is limited to about 5-6 months.
During the football season, parlay money holds significant importance. It is estimated that a staggering $432.9 million will be bet on parlays, constituting approximately 12% of the total amount wagered during the season.
