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The first six days of legal wagering have seen the three Detroit commercial casinos accumulate over $100,000 in sports betting handle. Although this indicates a strong interest, it is premature to make any definitive judgments at this stage.
The value of this sample should be assessed while considering multiple factors, some of which are unique and cannot be reproduced.
The raw details on the Michigan sports betting handle in March
Brick-and-mortar sportsbooks in Detroit were operational from March 11-16. However, MotorCity Casino’s sportsbook did not begin accepting wagers until March 12.
During the span of six days, individuals from Michigan placed bets exceeding $105,000 on the different markets offered. Here’s the breakdown of the wagers made by facility:
- The total cost at MGM Grand amounts to $84,695.40.
- The amount of $15,904.04 is attributed to Greektown.
- The price of MotorCity is $4,949.
Out of the total handle, which summed up to $8,866.07 or roughly 8.4%, the local and state taxes amounted to that figure. Notably, the city of Detroit received more than $4,800 from the overall tax amount.
During this period, MGM Grand emerged as the undeniable winner by attracting more than four times the amount of activity compared to Greektown and MotorCity combined. However, MGM should not simply rely on this accomplishment and become complacent.
One thing is certain, drawing definitive conclusions from these numbers is challenging due to the unique circumstances in Detroit, which both bettors and sportsbook operators will unlikely encounter again.
Why sportsbook operators shouldn’t treat these numbers as solid data
These numbers could have been influenced to some degree by various factors, making it challenging to determine the precise impact of these factors.
To begin with, the initial six-day period of legal sports betting in Michigan is a one-time event that can never be replicated. Some bettors may have participated during this time out of curiosity or for the thrill of trying something new, without necessarily intending to engage in regular wagering.
Furthermore, the timing of sportsbooks’ launch coincided with the build-up to one of the most significant sports betting events of the year. The undeniable excitement surrounding March Madness greatly contributed to the substantial growth in these figures.
Simultaneously, there were probably discouraging elements at play. The main factor being the restriction of wagering to merely three establishments across the entire state. Consequently, only individuals willing to journey to any of these facilities could partake in the overall betting amount.
If all online sportsbooks had been launched simultaneously, the figures could have been significantly higher. Considering that these online platforms could be operational for every March in the future, this year’s edition may be an exception.
Naturally, the impact of the coronavirus pandemic cannot be ignored. Several bettors had likely planned to make their wagers at a later time in the month, unaware that the sportsbooks would be shut down by the state after only six days.
This is related to the fact that online sportsbooks are still not operational. If they were, the total amount wagered could have kept rising despite the closure of casinos and the postponement or cancellation of sporting events.
The initial six days proved to be a favorable start for the retail sportsbooks in Detroit. Nonetheless, these figures hold little relevance for any other context, and the beginning could have been even more successful if not for certain mitigating factors.
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