Michigan Sports Betting Industry Slogs Through June

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Michigan sports betting June

The summer doldrums are in full effect in Michigan sports betting.

Michigan sportsbooks handled $292.4 million in June bets, according to a Michigan Gaming Control Board report released this week. The total is an 18% drop from the $356.1 million operators took in May.

The June handle is still a 12.7% increase compared to June 2021.

Hold slips for Michigan sportsbooks

Sportsbooks held 5.4% to generate $15.8 million in sports betting revenue. The revenue total is down from $35.9 million in May, a 10.1% hold.

Sportsbooks deducted $10.8 million in promotional credits.

The state collected $367,487 in taxes.

FanDuel controls Michigan sports betting

Online sports betting made up 92% of the overall handle, or $270 million.

FanDuel Sportsbook led operators with $79.1 million in bets, or 29% of the online handle. FanDuel also led sportsbooks in sports betting revenue, generating $6.0 million, a 7.6% hold.

DraftKings Sportsbook took the No. 2 slot with $71.7 million in online bets. BetMGM Sportsbook was third with $58.6 million in bets.

Barstool leads retail sportsbooks in Michigan

The retail sportsbooks at the three Detroit casinos took $22.4 million in bets during June.

The Barstool Sportsbook at Greektown Casino led the retail sportsbook in handle, taking $10.2 million. The BetMGM Sportsbook at MGM Grand Detroit was a close second, handling $9.5 million.

FanDuel’s sportsbook at MotorCity Casino rounded out the retail handle with $2.6 million. The operator added a VIP room at the sportsbook in late June.

SportsbookOnline HandleOnline RevenueHoldMarket Share
FanDuel$79.1 million$6.0 million7.6%29.3%
DraftKings$71.7 million$1.7 million2.4%26.6%
BetMGM$58.6 million$4.9 million8.421.7%
Barstool$23.9 million$1.7 million7.1%8.9%
Caesars$18.3 million(-$289,431)6.8%
PointsBet$7.0 million$653,2779.3%2.6%
BetRivers$4.2 million$275,5876.6%1.6%
FoxBet$1.8 million$122,7256.8%<1
WynnBet$1.2 million$119,6469.9%<1
Soaring Eagle$980,506(-$665)<1
Gun Lake Casino$765,909$104,07613.6%<1
Golden Nugget$679,164$33,4614.9%<1
Four Winds$530,215$20,0123.8%<1

Michigan fantasy sports update

With the Fantasy Contests Consumer Protection Act’s requirement that companies must apply for licensure by July 1, a few daily fantasy sports operators have dropped out of the Michigan market.

Underdog Fantasy pulled out of Michigan in the spring, with intentions to reenter the market in the future.

Despite its registered status with the MGCB, Yahoo also pulled out of Michigan, according to PlayMichigan.