Michigan sports betting handle increased year-over-year again in August as bettors staked $289.7 million during the month.
The latest data from the Michigan Gaming Control Board shows a 27% boost over the $228.5 million bet in August 2023. The most recent monthly total also marked 12 consecutive months with year-over-year handle jumps.
Online and in-person MI sportsbooks combined for nearly $29.1 million in revenue, up more than $5 million from the same month last year.
Michigan sports betting financials
FanDuel handled more than $100 million in August after failing to reach the nine-figure threshold in June and July.
The $101 million made up 36% of the total $280.1 million staked through MI sports betting apps in August. FanDuel posted an 11% win rate in August, clearing $11.1 million in online revenue.
Bettors placed $78.1 million worth of bets through the DraftKings app in August. DraftKings held just shy of 10%, producing $7.6 million in online August revenue.
Additional August figures
BetMGM generated $4.6 million in revenue from its MI sports betting app after handling $41.2 million in August bets.
Meanwhile, Caesars Sportsbook has inched up its handle share in recent months. With $18.4 million in August online handle, Caesars claimed 6.5% of the market, its highest share since it handled nearly 6.6% of the market in March.
- July: 6%
- June: 5.5%
- May: 5.6%
- April: 6.3%
Bettors staked $16.5 million with Fanatics in August, giving the operator nearly 6% of the online market. Fanatics kept $1.3 million in monthly revenue.
MI sports betting taxes
The state collected a $1.3 million tax payment in August, the second-lowest monthly total this year.
In February, MI sportsbooks sent a few thousand dollars less than $1.3 million back to Lansing.
So far this year, operators have paid $15.3 million in sports betting taxes, which is $1.3 million ahead of last year’s $14 million in total tax collections through August 2023.
