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In January, despite the opening of Michigan online sportsbooks on January 22nd, Detroit’s retail sportsbooks managed to collect over $35.6 million in wagers, marking the second-highest amount ever recorded.
Despite the attention on the 11 sports betting sites, sports betting still took place at Greektown Casino, MGM Grand Detroit, and MotorCity Casino in Detroit.
Mary Kay Bean, a spokesperson for the Michigan Gaming Control Board, stated on Tuesday that numbers for online sports betting, online casinos, and the only online poker site will be accessible next week. As the online market progresses, Michigan is anticipated to become one of the top contenders in sports betting.
In October 2020, the casinos witnessed a remarkable surge in sports bets, recording an impressive $46.1 million. Coming in second place, January narrowly surpassed September 2020’s figure of $33.5 million.
A new Michigan sports betting retail leader
In 2021, MotorCity emerged as the frontrunner in handle, with an impressive $14.9 million in sports betting at FanDuel Sportsbook, accounting for 41.7% of the market share. Previously, MGM held the leading position, but now it secured $11.6 million in bets at its BetMGM Sportsbook, representing 32.6% of the market share.
Greektown’s Barstool Sportsbook, which launched in December, generated a handle of $9.1 million, putting it in third place with a market share of 25.6%. However, when it comes to total qualified adjusted revenue, Greektown took the lead, earning $1.6 million and paying the highest amount of taxes based on that figure. The adjusted revenue accounts for the gross sports betting receipts after deducting free play.
The state taxes from sports betting amounted to $153,586, while the city of Detroit received $187,716 in January from the casinos.
| 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 that, 16 tribal casinos in Michigan allow residents to engage in sports wagering. However, it’s important to note that these tribal casinos do not share retail sports betting data with the state.
The online release scheduled for next week will include their online partners. This is made possible by the recent authorization allowing statewide players to place bets outside of reservation land, with the MGCB regulating these wagers.
MotorCity, Greektown make sizable revenue jumps
In 2020, Greektown experienced a significant increase in market share, capturing 20.7% of the total sports betting handle in the city, which amounted to over $130 million. During the same period, MGM held the leading position with approximately $57.1 million in handle, representing 43.6% of the market. Motor City followed closely with nearly $46.7 million in bets, accounting for 35.6% of the market.
Since the commencement of retail sports betting on March 11, 2020, the Detroit sportsbooks have accumulated over $165 million in sports bets, even in the face of prolonged pandemic closures throughout the previous year. Consequently, this has resulted in tax payments exceeding $1 million to Detroit and over $850,000 to the state.
The casinos generated a total revenue of $90.8 million while operating at a limited capacity. However, there was a significant decrease of 27.7% in revenue from table games and slot machines compared to last January, resulting in a revenue of $86.8 million this year.
MGM recorded a revenue of $34.0 million, experiencing a 32% decline compared to the previous year. It narrowly surpassed MotorCity, which earned $33.2 million in revenue, to secure the leading position. Greektown secured the third spot with $19.6 million in revenue, marking a 30.4% decrease compared to the same period last year.
Fantasy operators close 2020 with $1.4 million in state taxes paid
Throughout 2020, DraftKings maintained its dominant position in the fantasy sports contest market share from start to finish. In addition, the entire sector made a significant contribution of $1.4 million to state coffers during the same year.
In December 2020, operators generated revenue of $1.9 million and fulfilled their state tax obligations by paying over $158,000.
In terms of revenue, DraftKings emerged as the leader with $1.3 million, surpassing FanDuel, which generated slightly less with just under $775,000. However, it is important to note that the overall figures appear lower due to the negative revenue and negative taxes paid reported by Fantasy Football Players Championship.
Last month, two of the sports betting operators and online casinos that launched were DraftKings and FanDuel. In terms of revenue, DraftKings generated approximately $9.7 million, while FanDuel generated around $6.3 million for the year.
After the enactment of expanded gambling laws in December 2019 by Gov. Gretchen Whitmer, the state took charge of regulating fantasy sports contests for the initial year.
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