Michigan online sports betting handle hits $250m in April
Michigan online sportsbooks secured handle of $250m in April according to figures from the state’s Gaming Control Board.
Detroit’s three retail sportsbooks previously reported wagers of $24.3m, bringing Michigan’s total April handle to approximately $264m.
Internet sports betting operators received $20.4m in gross gaming revenue last month.
April was the lowest full-month online sports betting handle in Michigan since the state launched the activity on January 22. Handle fell about 30% from March, an expected decline given the drop off in the American sports calendar.
FanDuel/MotorCity led the state with handle of $74m and GGR of $7m. DraftKings/Bay Mills finished second in wagers with $62m but its GGR of $3.4m trailed MGM Grand Detroit/BetMGM, which reported gross win of $5.6m on $55m of wagers.
Michigan also reported internet gaming gross receipts of $94.9m in April. iGaming revenue was a hair off March’s record total of $95.1m.
“While the sports betting handle dropped 30-plus percent, which we expected the month after March Madness, internet casino gaming adjusted gross receipts held steady with a slight two-tenths of a percent increase in April,” said Richard S. Kalm, MGCB executive director.
MGM earned $36.8m in iGaming revenue to lead the state. Second place was a tight battle between MotorCity ($15.7m) and Bay Mills ($15.5m).
Less than four months in, Michigan’s iGaming market has quickly emerged as a challenger to frontrunners New Jersey and Pennsylvania. New Jersey, by comparison, reported April online casinos and poker revenue of $108m, while Pennsylvania saw March online casinos and poker win of $98m.
The immediate success of online sports betting and iGaming has led to a boon for the state of Michigan, which earned $17.8m in taxes and payments from iGaming and another $313,000 from online sports betting taxes.
Michigan’s online market may be benefiting from tight capacity restrictions on Detroit’s three commercial casinos. The properties are operating at 30%.
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