Michigan sports betting clocked in a new record in November.
Michiganders bet $500.5 million at Michigan sportsbooks in November, according to a state report released Thursday. That was up from October’s $497.6 million, the previous record handle.
Online sports betting in Michigan reached $473.8 million during the month, or 94.7% of the handle.
Michigan sports betting revenue hits record
Michigan sportsbooks generated nearly $58.8 million in gross sports betting revenue, good for a 11.7% hold. That breaks the March 2021 record of $35.2 million in gross revenue.
Sportsbooks can deduct promotional spending from their gross revenue. Operators dished out nearly $20 million in promos.
The state collected $1.8 million in taxes.
Race for top Michigan sportsbook heats up
DraftKings Sportsbook overtook the top spot in Michigan, with $126.3 million in online handle. That makes up 26.7% of the overall online handle.
FanDuel Sportsbook dropped from the top spot in October, clocking $115.2 million, or 24.3% of the online handle. In October, FanDuel held a 26.8% share of the online market.
BetMGM Sportsbook is a solid No. 3 in the sports betting market, with $100.8 million, or 21.3% of the online handle. Barstool Sportsbook is a distant fourth with $41.3 million in online handle.
Retail sportsbooks down
Retail sports betting at casinos in Detroit was down 22% compared to October.
BetMGM Sportsbook at MGM Grand Detroit led the three Detroit casinos with $9.6 million in handle.
FanDuel Sportsbook at MotorCity Casino recorded $8.8 million in retail bets, while Barstool’s book at Greektown reached $8.3 million in bets.
| Online Operator | Overall Handle | Online Handle | Revenue | Hold | Market Share | Promos |
|---|---|---|---|---|---|---|
| DraftKings | $126.3 million | $126.3 million | $13.1 million | 10.4% | 26.7% | $4.4 million |
| FanDuel | $124.1 million | $115.2 million | $20.1 million | 16.2% | 24.3% | $5.1 million |
| BetMGM | $110.4 million | $100.8 million | $13.7 million | 12.4% | 21.3% | $4.2 million |
| Barstool | $49.6 million | $41.3 million | $4.8 million | 9.7% | 8.7% | $492,802 |
| Caesars | $37.8 million | $37.8 million | $3.5 million | 9.3% | 8.0% | $2.6 million |
| PointsBet | $27.1 million | $27.1 million | $1.6 million | 5.9% | 5.7% | $1.9 million |
| WynnBet | $5.9 million | $5.9 million | $393,828 | 6.7% | 1.2% | $108,954 |
| Fox Bet | $5.9 million | $5.9 million | $514,418 | 8.7% | 1.2% | $137,306 |
| BetRivers | $5.5 million | $5.5 million | $529,442 | 9.6% | 1.2% | $293,166 |
| TwinSpires | $2.3 million | $2.3 million | $155,282 | 6.8% | <1% | $136,010 |
| Parx | $1.8 million | $1.8 million | $105,030 | 5.8% | <1% | $200,709 |
| FireKeepers | $1.5 million | $1.5 million | $46,863 | 3.1% | <1% | $111,708 |
| Golden Nugget | $1.4 million | $1.4 million | $106,824 | 7.6% | <1% | $39,140 |
| Four Winds | $859,294 | $859,294 | $38,696 | 4.5% | <1% | $281,304 |
November proving big for MI sports betting
Established US sports betting markets are turning in big Novembers. While October boasted a fifth football weekend, multiple states, including Iowa and Indiana, have also recorded all-time handles in November.
In Michigan, the race for the Big Ten football championship likely helped boost the total as both the University of Michigan and Michigan State University were in the hunt. In the end, Michigan won out, including a massive victory against Ohio State University.
Along with normal NFL betting, both Michigan and Michigan State will play in marquee games at the end of December. That includes Michigan’s appearance in the College Football Playoff.
