DraftKings Takes More Michigan Sports Betting Market Share In June

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Michigan sports betting

DraftKings Sportsbook took a few more bites of the Michigan sports betting pie in June.

The operator saw its monthly share of online Michigan sports betting handle increase to more than 29%, up from 26% in May.

According to figures released Tuesday by the Michigan Gaming Control Board, DraftKings handled $66.4 million of the $227.9 million bet online in June.

MI sports betting handle up for BetMGM

BetMGM increased its monthly share of handle in June, too. With $41.8 million in total online bets, BetMGM claimed 18% of all monthly handle, up from 16% in May.

FanDuel Sportsbook saw its handle share drop a few percentage points in June. However, it did remain the market leader in overall sports betting handle.

FanDuel handled $74 million in online bets during the month, good for 32% of all sports betting dollars. It took 34% of all dollars from Michigan sports betting in May.

Monthly handle share down for others

Other Michigan sports betting apps also experienced a dip in their market share of handle in June.

Caesars Sportsbook accepted $17.7 million in June bets for an 8% handle market share, down one percentage point from May. Barstool handled $10.5 million, or 4%, in online bets, down one percentage point from May.

Overall MI sports betting in June

In June 2022, MI sports betting apps took in $270 million in bets, a nearly 16% drop compared to the $227.9 million this past June.

Online sports betting in Michigan was also down 21% month-over-month in June. Total May handle online was $288.3 million. Given the seasonality of the sports calendar, JuneJuly, and August are typically slower months. 

According to LSR data, Ohio sports betting launching in January has also played a role in its neighbor’s monthly handle. Between January and June of this year, Michigan’s total handle reached $2.06 billion, an 11% drop compared to the first six months of 2022 ($2.32 billion.)

Sports betting revenue for operators topped out at $18.3 million in June. Michigan collected $545,600 in sports betting taxes for the month.