Three Takeaways from Michigan’s April Sports Betting Report

Three Takeaways from Michigan’s April Sports Betting Report
By Bryce Derouin

The Michigan Gaming Control Board released April’s online gaming figures on Friday. On the sportsbook side, the state took in $249.9 million in sports wagers, while online casinos generated $94.85 million in internet gross gaming receipts.

Here are three takeaways from the report.

Michigan sets record

Michigan bettors were clearly excited about the launch of online sports betting.

They proved it quickly, too.

Michigan became the fastest state in the U.S. to reach the $1 billion mark, the Michigan Gaming and Control Board announced, thanks to a sports betting handle of $249.9 million over the month of April.

Michigan Sports Betting April vs. March

Total handle Mobile handleRevenue (GGR)
April$274.213M$249.875M$12.424M
March$383.692M$359.450M$21.861M
Change Down 28.5% Down 30.5% Down 43.2%

Michigan Still Looking for Big Profit

When online sports betting launches in a new state, it comes with promotions and handouts for betters, in order to encourage them to place wagers.

Because of this, Michigan has yet to see a huge profit, despite the record-breaking $1 billion handle.

In April, sports betting earned $312,824 in tax revenue for the state, and $186,939 for the city of Detroit.

Now that online sports gambling has established itself in the state, the profit should increase, with less handouts taking place across the sites.

Well-known Brands Reign Supreme

FanDuel, DraftKings and BetMGM had remained the three dominant forces in sports betting, with FanDuel once again holding the top spot with $80.1 million in total handle. DraftKings was second with $61.5 million, followed relatively closely by BetMGM with $61.2 million.

BetMGM was on top of casino betting for the fourth month in a row, totaling $36.8 million in revenue.

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Contributors

With a decade in the media and gambling space in Michigan, I aim to bring you the latest news and developments in Michigan online casino and sports betting.

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