Following a two-month slide, Michigan sports betting took a step forward with its June handle thanks to a jump in retail bets.
The state’s sportsbooks took $259.5 million in June bets, up slightly from May’s $257.7 million, according to Michigan Gaming Control Board figures released Monday. May was the lowest handle for Michigan sports betting since online sports betting launched in mid-January.
The slight uptick came from the $24.4 million in retail bets at the three Detroit casinos, up from $20.2 million the previous month. The $235.1 million online handle was a drop from May’s $237.6 million in online bets.
Sports betting revenue was $27.2 million, a 10.5% hold.
Reversing the MI sports betting slide
Michigan’s high point was $383.7 million in March, its second full month as an online market. It is normal for markets to droop in the spring as the sports schedule thins out.
While the numbers have dropped, a promising few months await with the lucrative NFL betting season right around the corner.
Along with overall handle, Michigan’s June sports betting revenue was up from May’s $21.2 million. The state collected a little more than $1 million in taxes.
Three-way race in the Mitten State
BetMGM Sportsbook, DraftKings Sportsbook and FanDuel Sportsbook are the clear leaders in the market, with FanDuel capturing nearly 33% of the $235.1 million bet online. DraftKings secured 24%, while BetMGM nabbed 22%.
Those three also all spent more than $1.5 million in promotions, with FanDuel leading the way with $2.2 million in promos.
| Operator | Online Handle | Gross Gaming Revenue | Hold | Market share |
|---|---|---|---|---|
| FanDuel | $77.3 million | $10.3 million | 13.3% | 33% |
| DraftKings | $56.4 million | $5 million | 8.9% | 24% |
| BetMGM | $52.1 million | $6.1 million | 11.7% | 22% |
| Barstool Sportsbook | $16.7 million | $1.8 million | 10.8% | 7% |
| PointsBet | $10.2 million | $911,170 | 8.9% | 4% |
| William Hill | $7.9 million | $598,641 | 7.6% | 3% |
| WynnBet | $5.5 million | (-$383,777) | — | 2% |
| Fox Bet | $3.7 million | $332,639 | 9% | 2% |
| BetRivers | $2.5 million | $107,480 | 4.3% | 1% |
| TwinSpires | $1.3 million | $143,197 | 11% | <1% |
| Golden Nugget | $914,393 | $83,782 | 9.2% | <1% |
| Four Winds | $607,100 | (-18,782) | — | <1% |
FireKeepers quietly launched in the month, taking $656 in bets. It officially launched as the state’s 13th sportsbook brand last week.
Triple retail race as well
The three Detroit casinos accounted for the $24.4 million in commercial retail bets. The Detroit casinos passed their 2020 totals with the June figures, according to Play Michigan.
- MotorCity‘s FanDuel Sportsbook: $8.5 million
- MGM Grand Detroit’s BetMGM Sportsbook: $8.1 million
- Greektown Casino‘s Barstool Sportsbook: $7.8 million
The MGCB does not report the retail bets made at the state’s tribal casinos.
