Michigan sports betting saw a bump in action during March with the state’s two major colleges in the NCAA Tournament.
Michigan sportsbooks took nearly $478 million in March bets, according to a Michigan Gaming Control Board report released Monday. That is a 12.8% increase from February’s $424 million. It was also a 24.6% increase compared to the $383.7 million bet in March 2021.
March was the fifth-highest handle in Michigan since its online market launched in January 2021. The record handle was set in January 2022 with $532.7 million in wagers.
Michigan sports betting revenue grows
MI sportsbooks held 6.8% to generate $32.4 million in gross sports betting revenue. That figure is up 50% compared to the $21.6 million generated in February.
With operators doling out $15.9 million in promos, adjusted revenue was $16.6 million.
The state collected $878,225 in taxes.
FanDuel controls MI sports betting market
Michigan’s 14 sportsbooks took $451.6 million in online bets, or more than 94% of the overall handle. FanDuel Sportsbook paced the market with $140.1 million in online handle.
BetMGM Sportsbook surpassed DraftKings Sportsbook to become the No. 2 sportsbook in terms of handle in the state, taking $108 million in bets compared to the $102.9 million DraftKings handled. In February, BetMGM trailed DraftKings in online handle, $86.7 million to $94.7 million.
Of the commercial retail sportsbooks in Detroit, Greektown Casino’s Barstool Sportsbook was tops with $15.7 million in wagers. MGM Grand Detroit‘s BetMGM Sportsbook handled $5.7 million, while MotorCity Casino‘s FanDuel Sportsbook took just under $5 million in bets.
|Operator||Online Handle||Online Revenue||Hold||Market Share|
|FanDuel||$140.1 million||$13.2 million||9.4%||31.0%|
|BetMGM||$108.1 million||$9.3 million||8.6%||23.9%|
|DraftKings||$102.9 million||$3.3 million||3.2%||22.8%|
|Caesars||$38.8 million||$2.0 million||5.2%||8.6%|
|Parx Interactive||$1.4 million||$138,776||9.9%||<1%|
|Golden Nugget||$1.3 million||$311,731||23.9%||<1%|
Michigan colleges make short runs
Both Michigan and Michigan State appeared in March Madness, which likely helped boost the monthly handle. Before February’s dip, Michigan sports bettors hit handle records in five-straight months.
Duke bounced the Spartans in the second round, while the Wolverines made it to the second weekend before losing to Villanova.
Michigan gaming news
In March, the ECHL’s Kalamazoo K-Wings partnered with FireKeepers Casino Hotel. Days later, the USL Championship’s Detroit City FC announced a deal with Golden Nugget Sportsbook.
Michigan will have another sportsbook added to the April report. Soaring Eagle Casino opened a retail sportsbook in early April with its online platform, Eagle Casino & Sports, launching April 14.
Earlier this month, Michigan was accepted into the Multi-State Internet Gaming Agreement. That means Michigan poker players will be able to play against others in Delaware, Nevada, New Jersey and Pennsylvania.