Michigan sportsbooks take over $300m in first full month of operation
Michigan’s online sportsbooks took $301.9m in February; their first full month of operation.
The state became the fastest to surpass the milestone, and only the third to hit $75m in online casino gross receipts in a single month.
Official data released on Tuesday 16 March showed that it took less than 40 days for Michigan to go from takings its first wager to becoming one of the largest sports betting market in the entire nation.
February’s figures showed a slight dip in per-day average betting from January’s opening blitz, falling from $11.5m to $10.8m, and total gross sports betting receipts also fell, from $13.3m to $9.5m respectively.
Such is little cause for worry however, with bettor enthusiasm clearly high. When the $23.7m in bets placed at retail casinos are taken into account, Michigan sportsbooks took in $325.6m in bets through February, placing the market fifth in the nation on the metric.
Online casinos and poker verticals also posted strong results, generating $79.7m in receipts, up from $29.m in January.
FanDuel at MotorCity Casino (pictured) once again proved the most visited platform. It saw $87.2m in online handle, but lost $78,889 in gross sports betting receipts. BetMGM at the MGM Grand Detroit came in second with a $75.7m handle figure, but notably topped the charts with gross receipts of $5.3m and taxable revenue of $2.4m.
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