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According to data released by the Michigan Gaming Control Board on Thursday, sports bettors in Michigan achieved a new betting handle record in October, placing a staggering $463.3 million on various athletic events.
In addition to the $34.2 million wagered in October at Detroit casinos, the total amount wagered in the state of Michigan reached at least $497.6 million, setting another sports betting handle record. It is important to note that this figure does not encompass sports wagers placed at tribal casinos throughout the state.
The commencement of Michigan sports betting took place in March 2020, followed by the online debut in January 2021. In terms of online wagering, the highest previous record was set in March 2021, with a total of $359.5 million bet. However, the overall record for online and Detroit casino betting was reached in September of the same year, reaching $386.8 million.
October consisted of five football weekends, marking the commencement of the NFL season in its entirety. Notably, the Michigan State triumph over Michigan on October 30th was an intense top-10 clash that garnered significant attention from bettors.
October saw the arrival of promising indications, with New Jersey setting a new monthly U.S. record of $1.3 billion on Wednesday. Additionally, Pennsylvania achieved a remarkable milestone by collecting a record-breaking $776.3 million in sports bets during the same month.
FanDuel leads the way in October sports betting handle
After being dethroned by rival DraftKings Sportsbook for the past two months, FanDuel Sportsbook has now regained its position as the leader in online sports betting handle.
FanDuel received $124.0 million in handle, capturing a 26.8% market share. Meanwhile, DraftKings garnered a 26.0% market share by accepting $120.4 million in online sports bets.
With a handle of $102.2 million and a market share of 22.1%, BetMGM Sportsbook ranked third in the market.
| Licensee | Online Brand | Total Handle | Online Handle | Retail Handle | Revenue (GGR) | Promos | State Tax | Local Tax |
|---|---|---|---|---|---|---|---|---|
| MotorCity | FanDuel | $134,218,482 | $123,958,756 | $10,259,726 | $11,010,213 | $4,561,608 | $365,087 | $248,816 |
| Bay Mills | DraftKings | $120,411,750 | $120,411,750 | ? | $2,915,213 | $5,485,779 | $0 | $0 |
| MGM Grand Detroit | BetMGM | $114,696,940 | $102,184,773 | $12,512,167 | $8,870,565 | $4,153,176 | $248,297 | $189,618 |
| Greektown | Barstool | $51,460,087 | $40,010,642 | $11,449,445 | $1,428,120 | $556,307 | $38,897 | $37,873 |
| Grand Traverse | Caesars | $36,515,540 | $36,515,540 | ? | $1,044,533 | $2,443,999 | $0 | $0 |
| Lac Vieux Desert | PointsBet | $17,089,185 | $17,089,185 | ? | $669,282 | $1,149,528 | $0 | $0 |
| Little Traverse Bay | Fox Bet | $7,068,956 | $7,068,956 | ? | $259,077 | $255,549 | $296 | $0 |
| Little River | BetRivers | $5,099,382 | $5,099,382 | ? | $214,052 | $237,748 | $0 | $0 |
| Hannahville | TwinSpires | $3,138,257 | $3,138,257 | ? | $305,874 | $198,783 | $0 | $0 |
| Sault Ste. Marie | WynnBet | $2,849,004 | $2,849,004 | ? | $143,019 | $127,090 | $0 | $0 |
| Match-E-Be-Nash-She-Wish | Play Gun Lake | $1,891,550 | $1,891,550 | ? | -$28,603 | $127,936 | $0 | $0 |
| Nottawaseppi Huron | FireKeepers | $1,224,372 | $1,224,372 | ? | $42,697 | $46,506 | $0 | $0 |
| Keweenaw Bay | Golden Nugget | $1,193,383 | $1,193,383 | ? | $84,882 | $34,976 | $307 | $0 |
| Pokagon | Four Winds | $708,536 | $708,536 | ? | -$11,635 | $234,033 | $0 | $0 |
| Total | $497,565,425 | $463,344,087 | $34,221,338 | $26,947,289 | $19,613,017 | $652,884 | $476,307 |
TwinSpires Sportsbook stood out among the other competitors due to its significant growth. In October, the sportsbook recorded a total of $3.1 million in sports wagers, marking a remarkable 100.1% increase compared to September. This growth surpassed the overall statewide market growth of 30.8% for the same period, highlighting TwinSpires’ exceptional performance.
Despite moving up from 10th to ninth place in online sports betting handle, TwinSpires only managed to capture a mere 0.7% market share.
$24.3M in sportsbook revenue, nearly $1M in taxes
Online sports betting operators in Michigan generated $24.3 million in revenue for the month of October.
Michigan sports bettors had a moderately successful month, with online sportsbooks holding a 5.2% of the handle. This is the second-lowest percentage since the launch in January, only surpassed by February’s 3.1% hold.
The current online hold percentage in Michigan has reached 7.5% since its launch.
The total revenue generated from the haul amounted to $552,907 in state tax funds and $354,113 in taxes paid to the city of Detroit.
Michigan’s largest city, Detroit, has received a total of $2.8 million from retail casino partners Barstool Sportsbook, BetMGM, and FanDuel. Additionally, sports betting operators have contributed $4.9 million to state taxes since their launch.
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