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Michigan sportsbooks bring in $498 million in handle, continuing trend of a plateauing market despite big NFL, college football games locally, and World Cup kicking off
In November, online casinos in Michigan experienced their second consecutive month of breaking records, generating over $145.4 million in revenue.
In the month, Michigan’s sportsbooks received a total of $498.1 million in bets, of which nearly $480 million was generated through online sportsbooks. This figure represents a slight decrease compared to November 2021, indicating a continued stabilizing trend in the state’s market.
Paul Costanzo, lead analyst at Playinmichigan, noted that Michigan online casinos are still a significant source of revenue, setting a new record for the second consecutive month. However, there was a slight decrease in sports betting handle compared to the same period last year, marking the second decline in the past three months. This comes as a surprise considering the abundance of sporting events, such as the World Cup and the Detroit Lions’ promising performance in the NFL playoffs. These trends indicate that the Michigan market is reaching a plateau.
November 2022 Michigan sports betting numbers
The Michigan Gaming Control Board has released the top-line numbers for Michigan sportsbooks in November.
- The total amount handled is $498.1 million, with $480 million being processed online.
- The revenue amounted to $42.8 million, with $40.8 million generated from online sources.
- Retention rate: 8.6% (decreased from 10.2% in the previous month)
- Month-over-month: Handle decreased 1.2%
- The state received $1.64 million in taxes from sports betting in November, while local entities received $850,306.
- The leading online sports betting application in terms of handle is FanDuel Sportsbook MI, boasting an impressive $154.2 million.
- The sports betting app that generates the highest revenue is FanDuel Sportsbook MI, with an impressive $19.97 million.
November 2022 Michigan online casino revenue
In November, online casinos in Michigan achieved yet another milestone by surpassing their previous revenue record.
- The revenue generated by online casinos increased by 3.2% from October, reaching a total of $145.4 million.
- In November, the state received $27.1 million in tax payments from online casinos, while local entities received $10.4 million.
- BetMGM Michigan emerges as the leading online casino app in terms of revenue, amassing an impressive $53.6 million.
Three takeaways from November Michigan online gambling revenue report
Major sporting events don’t result in betting uptick
After November came to an end, a promising opportunity for a surge in sports betting seemed to be on the horizon in Michigan. The month had witnessed the commencement of the highly anticipated World Cup. Additionally, Michigan’s undefeated football team was set to face off against Ohio State in a momentous matchup. On top of that, the Detroit Lions were steadily improving their performance, inching closer to a playoff spot, and had their sole standalone game scheduled on Thanksgiving.
However, that didn’t work out.
Although online sports betting experienced a slight increase compared to last year, it was insufficient to compensate for the decrease in retail handle at the Detroit sportsbooks.
As mentioned earlier this month, the market in Michigan has reached a plateau. However, this is not necessarily negative for operators since there is still a significant influx of money. It is merely the current reality.
FanDuel pulls away from competitors
In the competition to become the leading online sportsbook in Michigan, FanDuel once again proved that September’s results were an exception. The state’s historical frontrunner in sports betting achieved an impressive $154.2 million in online sports bets in November, surpassing its October performance by almost $9 million. FanDuel’s contribution accounted for 32% of the total sports betting handle in the state.
DraftKings Sportsbook MI, the runner-up in market share, generated a respectable $127.4 million, but it still fell significantly behind the impressive performance of its competitor.
FanDuel was able to increase its share of the state’s revenue significantly, earning over $19 million and capturing a market share of 49%. The 13% hold it achieved outperformed its competitors by a wide margin, as well as surpassing the state average of 8.6%.
Thirty-day month? No problem for Michigan online casinos
We had previously noted that it was logical for a month with 31 days to generate record revenue, and October proved this point by bringing in an impressive $141 million.
That’s the end of that, I suppose.
During November, online casinos in Michigan achieved a consecutive record by generating over $4.8 million per day, surpassing the $4.5 million per day revenue from October.
In addition, the absence of five weekends of football was something we believed contributed to the increase in October.
No matter the month, it seems that Michigan online casinos remain incredibly popular.
Michigan November 2022 sports betting handle and revenue by operator
| Licensee | Online Brand | Handle | Revenue | Hold | Taxes |
|---|---|---|---|---|---|
| MotorCity | FanDuel | $158,928,962 | $20,765,692 | 13.1% | $1,499,946 |
| Bay Mills | DraftKings | $127,436,612 | $6,684,212 | 5.2% | $320,670 |
| MGM Grand Detroit | BetMGM | $103,087,383 | $9,384,610 | 9.1% | $502,916 |
| Greektown | Barstool | $34,953,586 | $1,525,592 | 4.4% | $109,831 |
| Grand Traverse | Caesars | $33,162,682 | $2,186,737 | 6.6% | $0 |
| Lac Vieux Desert | PointsBet | $13,848,735 | $1,238,674 | 8.9% | $35,039 |
| Little River | BetRivers | $8,862,029 | $480,801 | 5.4% | $11,352 |
| Sault Ste. Marie | WynnBet | $3,719,238 | -$38,737 | -1.0% | $0 |
| Nottawaseppi Huron | FireKeepers | $2,901,813 | -$154,678 | -5.3% | $0 |
| Little Traverse Bay | Fox Bet | $2,655,973 | $102,800 | 3.9% | $6,189 |
| Match-E-Be-Nash-She-Wish | betParx | $2,422,475 | $168,607 | 7.0% | $0 |
| Sagniaw Chippewa | Eagle | $2,404,474 | $83,419 | 3.5% | $0 |
| Keweenaw Bay | Golden Nugget | $1,492,072 | $133,657 | 9.0% | $8,692 |
| Hannahville | SI | $1,311,007 | $155,695 | 11.9% | $0 |
| Pokagon | Four Winds | $931,003 | $41,149 | 4.4% | $0 |
| Total | $498,118,043 | $42,758,230 | 8.6% | $2,494,635 |
Michigan November 2022 online casino revenue by operator
| Licensee | Brand | Revenue | Promos | Taxes |
|---|---|---|---|---|
| MGM Grand Detroit | BetMGM | $53,629,009 | $5,362,901 | $14,117,837 |
| MotorCity | FanDuel | $27,141,558 | $2,714,156 | $7,145,015 |
| Bay Mills | DraftKings | $23,250,278 | $2,325,028 | $6,957,646 |
| Little River | BetRivers | $8,610,496 | $861,050 | $2,169,845 |
| Keweenaw Bay | Golden Nugget | $6,294,206 | $629,421 | $1,586,140 |
| Sault Ste. Marie | WynnBet | $5,551,946 | $555,195 | $1,399,090 |
| Greektown | Barstool | $4,271,104 | $427,110 | $1,124,368 |
| Grand Traverse | Caesars | $4,225,291 | $422,529 | $1,064,773 |
| Pokagon | Four Winds | $2,633,742 | $263,374 | $663,703 |
| Sagniaw Chippewa | Eagle | $2,365,288 | $236,529 | $596,053 |
| Little Traverse Bay | Fox Bet | $2,311,924 | $231,192 | $582,605 |
| Match-E-Be-Nash-She-Wish | betParx | $1,937,808 | $193,781 | $488,328 |
| Lac Vieux Desert | PointsBet | $1,619,915 | $135,255 | $334,952 |
| Nottawaseppi Huron | FireKeepers | $1,585,548 | $158,555 | $389,632 |
| Total | $145,428,114 | $14,516,075 | $38,619,986 |
