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In February, Michigan sports bettors achieved a significant milestone by outperforming the house for the first time since the opening of Detroit casinos’ sportsbooks almost a year ago.
After a month of sports betting, the downtown sportsbooks experienced a collective net loss of $77,627, despite a total of $23.7 million being wagered. Furthermore, there was a significant decrease in tax revenue, with less than $10,000 being contributed to public funds.
MotorCity Casino’s FanDuel Sportsbook once again dominated the sports betting market, boasting a 47.4% market share and a staggering $11.2 million handle for the second consecutive month.
Super Bowl LV on Feb. 7 marked a significant moment as Detroit sportsbooks operated alongside the newly launched online sports betting market for the first full month. The NFL title win by a local hero, who played a pivotal role in lifting the Tampa Bay Buccaneers, combined with some triumphant moments in local college basketball, brought great excitement and success for local bettors.
Detroit retail sportsbooks at a glance
In all of the months reported in 2020, MGM Grand Detroit dominated the sports betting market with the highest betting handle. However, in February, it secured the second position, recording a sports betting handle of $6.7 million, which accounted for a 28.2% market share.
MotorCity’s consecutive month at the market’s peak might suggest a potential takeover, although Jeff Hoose, the Regional Manager at FanDuel, admitted that the challenging battle will persist.
Hoose informed Playinmichigan on Tuesday that they face tough competition in a fiercely competitive market. Their goal is to consistently provide superior products and services to players, anticipating challenges every month.
In February, Greektown Casino ranked third in terms of handle, bringing in $5.8 million, which accounted for 24.4% of the market share. Among the trio, Greektown was the sole establishment that recorded a positive sports betting revenue in Michigan. They earned nearly $115,000, leading to a payment of $4,340 in state taxes. Additionally, the city of Detroit collected $5,304 in taxes from Greektown Casino during that month.
| Casino | Handle | Revenue | State tax (3.78%) | City of Detroit tax (4.62%) |
|---|---|---|---|---|
| Total | $23,711,983 | -$77,627 | $4,340 | $5,304 |
| MotorCity Casino | $11,242,016 | -$183,680 | $0 | $0 |
| MGM Grand Detroit | $6,695,253 | -$8,761 | $0 | $0 |
| Greektown Casino-Hotel | $5,774,713 | $114,814 | $4,340 | $5,304 |
Bettors cash in on Tampa Bay, college basketball local teams
Hoose stated that the admiration for Tom Brady in Michigan is genuine.
Hoose, the manager overseeing FanDuel sportsbooks in the Midwest, attended the Super Bowl at MotorCity and described the atmosphere as fantastic, with a highly supportive crowd favoring Tampa Bay.
Besides placing futures bets on Brady, who used to be a Michigan quarterback, a significant amount of the evening’s betting activity focused on the Buccaneers, the underdog team, as they faced off against the Kansas City Chiefs.
According to Hoose, the success of the Michigan basketball team, who achieved a flawless 5-0 record, played a significant role in the players’ accomplishments. Additionally, Michigan State’s remarkable victories over Illinois and Ohio State, both ranked in the top five, just two nights apart at the end of the month, also provided a boost for bettors.
New online market could impact retail revenue going forward
During the initial two months of 2021, a total of $59.4 million was placed in bets by sports bettors at the casinos in Detroit.
Furthermore, within the initial 10 days following the January 22 initiation, online betting witnessed residents placing bets worth $115.2 million on sports. Despite the pandemic causing the closure of Detroit’s casinos for a significant portion of the year, bettors managed to wager $130.8 million in 2020 after the reopening on March 11.
The figures for Michigan’s 12 online sports betting operators in February have yet to be disclosed.
According to Hoose, MotorCity experienced significant overlap with online sports betting, particularly with online bettors utilizing the Cash at Counter service. Hoose mentioned that players from various locations in the state would visit MotorCity to collect their online FanDuel winnings at the sportsbook counter. It should be noted that the entire process for this feature might require up to 48 hours for completion.
Although the tribal casinos in the state possess sportsbooks, they do not disclose their statistics to the Michigan Gaming Control Board. However, the regulator does monitor their online operations, as wagers can be placed outside of their reservations.
Overall casino revenue down 29% from last February
In total, the revenue generated by the casinos in Detroit amounted to $86.4 million, with MGM taking the lead by capturing 40% of the market share.
In Detroit, the revenue from table games and slots witnessed a significant decline of 29% compared to February 2020. This decline can be attributed to the ongoing limited capacity restrictions imposed on casinos. However, on Friday, an encouraging development occurred as the casinos were permitted to increase their capacity to 30%.
In January, fantasy sports operators earned a revenue of $2.2 million, contributing $186,699 in taxes to the state.
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