Up And Down August For Michigan Sports Betting Apps

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Michigan sports betting

WynnBet posted its second-highest Michigan sports betting handle of the year with $2.8 million in online wagers for August.

WynnBet produced one of the market’s most significant percentage increases with a 40% handle jump over July, according to figures released Tuesday by the Michigan Gaming Control Board. Its $3.3 million Michigan sports betting handle in January is its high-water mark for the year.

Wynn’s online sports betting arm, which claimed 1.3% in August online handle share, shut down its sports betting app in eight other states last month.

DraftKings continues MI sports betting slowdown

Michigan sports bettors wagered $57.8 million online with DraftKings Sportsbook in August.

It accounted for 26% of all handle, continuing DraftKings’ recent streak of declining monthly handle share:

FanDuel leads MI sports betting apps

FanDuel Sportsbook accepted $76.1 million in August online bets. It was good for 35% of all Michigan sports betting dollars wagered during the month.

FanDuel also led the online revenue market, clearing $9.4 million for the month. DraftKings was second best in online revenue with $5.6 million.

BetMGM bounces back

BetMGM reclaimed in August the percentage point of handle share it surrendered the month before. Bettors staked $36.5 million online with BetMGM last month, good for 17% of all online handle.

Its 16% share of online handle in July was the lowest monthly percentage in 2023 for BetMGM.

No other MI sports betting app claimed more than a 7.5% handle share for the month.

MI sports betting by the numbers

Online sports betting in Michigan reached $218.5 million in August, about flat on the $218.8 million bet last August.

With a 10.6% win rate, or hold, Michigan sports betting apps combined for $23.2 million in revenue.

The state collected $1.4 million in monthly taxes.