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We need to step up, Michigan – no more excuses.
Perhaps some of you may take offense to this statement, but the evidence speaks for itself. Michigan still has some room for improvement when it comes to achieving success in online sports betting.
Although Michiganders did not rank last in terms of betting success in 2021, they were far from being the first.
Michigan’s 8% hold falls short compared to the nationwide average of 7.2% recorded by online sportsbooks in 2021. It seems that Michigan bettors may be driven more by their emotions than rational thinking when placing their bets.
What exactly is ‘the hold’?
The term “hold” refers to the amount that a sportsbook is gaining in comparison to the bets placed by the public.
The percentage refers to the portion of money that sportsbooks retain from each dollar wagered. To determine this, you can easily divide the revenue total by the handle.
We have thoroughly analyzed Michigan’s online handle and revenue in comparison to the rest of the country.
In 2021, Michigan’s online sports betting handle amounted to $3,655,278,366, securing its sixth position in the national rankings. Moreover, the state achieved a commendable fourth place in terms of online revenue, totaling $292,172,413.
This means that the sportsbooks in the state ended up with a hold of 8%.
A look at the numbers for 2021
This comprehensive overview provides information on the online handle, online revenue, and hold for sports betting in every state.
| State | Handle | Revenue | Hold Percentage |
|---|---|---|---|
| Nevada | $5,254,050,503 | $194,286,000 | 3.7% |
| Iowa | $1,797,996,171 | $87,747,929 | 4.9% |
| New Hampshire | $545,111,030 | $35,019,171 | 6.4% |
| Colorado | $3,785,680,256 | $249,020,325 | 6.6% |
| West Virginia | $411,407,252 | $29,921,110 | 7.3% |
| New Jersey | $9,949143,033 | $740,274,313 | 7.4% |
| Illinois | $6,725,719,153 | $506,000,954 | 7.5% |
| Pennsylvania | $6,022,177,533 | $450,521,446 | 7.5% |
| Indiana | $3,420,239,821 | $258,227,753 | 7.5% |
| Michigan | $3,655,278,366 | $292,172,413 | 8.0% |
| Rhode Island | $241,076,790 | $20,277936 | 8.4% |
| Tennessee | $2,730,459,000 | $239,872,000 | 8.8% |
| Virginia | $3,221,790,714 | $285,227,753 | 8.9% |
| Connecticut | $325,219,155 | $29,463,697 | 9.1% |
| Oregon | $331,599,513 | $30,398,002 | 9.2% |
| Arizona | $1,226,682,920 | $119,449,364 | 9.7% |
| Wyoming | $40,348,147 | $4,009,603 | 9.9% |
| District of Columbia | $45,674,933 | $7,629,772 | 16.7% |
Michigan narrowly in the top 10
A top-10 finish is usually worthy of praise.
However, with only 19 states offering online sports betting in 2021, achieving a 10th place ranking is considered below average. It is worth noting that one of those states is Washington D.C.
Currently, an 8% rate is not terrible. In fact, the nation’s capital is making a fool of itself with a high 16.7% rate. It seems like they may have placed their bets on Washington’s college football team instead of the Washington Football Team.
However, Michigan is being overshadowed by other Midwest states such as Illinois, Indiana, Iowa, and Pennsylvania.
I comprehend why Nevada is at the forefront with a 3.7% lead. Their deep involvement in gambling is evident. However, I am puzzled by Iowa surpassing us in sports betting. It seems unlikely that predicting outcomes in an activity like cornhole could be that effortless.
Stop betting with your heart
One possible revision could be: The presence of professional sports teams in Michigan is likely a contributing factor to the state’s 8% stronghold.
Michigan sports fans exhibit an astonishing level of loyalty to their teams, and I must admit that I am also guilty of this.
Michigan’s top programs lack reliability, except for MSU/U-M football which had a combined 20-6-1 against the spread last season.
- Despite their impressive 11-6 record against the spread in the 2021 NFL season, the Detroit Lions’ overall performance was only 3-13-1. It is advisable to refrain from betting on them to win outright.
- The Detroit Pistons are currently aiming for another No. 1 pick as they hold a 13-45 record this season. When it comes to covering the spread, they have a more respectable record of 27-31, although it still results in a losing margin. Cade Cunningham has been a standout player, but despite significant local betting, his chances of winning Rookie of the Year are not very high.
- The Detroit Red Wings are displaying some signs of resilience this season, but unfortunately, their efforts have only translated into a 23-22-6 overall record. The frequent shootouts and overtimes have proven to be quite troublesome for bettors.
- The start of the 2022 season for the Detroit Tigers remains uncertain, despite their promising performance with a 77-85 record in 2021. Rather than depending solely on the moneyline for Detroit, it would be wise to consider the spread. Last season, the Tigers boasted an impressive 93-68 record against the spread.
- Michigan State University basketball is as unpredictable for bettors as it is on the court. With a record of 13-13-1 against the spread this season, the Spartans consistently keep fans and gamblers guessing.
- Michigan basketball has been less successful at the betting window this CBB season, with a 10-15 ATS record, aside from their occasional clashes with other coaches.
This could be the much-needed wake-up call for the state. The betting year of 2022 has taken off with a bang, witnessing unprecedented wagers on SuperBowl LVI. However, it is worth noting that in this particular state, bets were heavily placed against Matthew Stafford and the Rams, despite their victory (though failing to meet the point spread).
Well, 2025 will always be there.
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