Packed NFL schedule fuels strong January for Michigan sports betting
The state’s retail and online sportsbooks saw $532m in wagers during the first month of the year.
Michigan sports betting has broken its monthly handle record for the fifth consecutive month. Michaganders flooded the state’s online and retail sportsbooks as a busy NFL schedule saw betting numbers continue to rise.
Wagers for January came to a total of $532m, with online sportsbooks accepting a record $496.8m of that, a 2.5% month-on-month increase. Meanwhile, according to the Michigan Gaming Control Board, retail sportsbooks took approximately $36.6m in handle.
Overall, this total handle breaks the Great Lake State’s previous record of $514.6m by 3.5%. This previous record was set in December.
Revenue came painstakingly close to breaking monthly records in January. Online sportsbooks won a total gross revenue of $34.7m, just $100,000 short of the record. Retail sports betting, as expected, trailed with $1.2m in total revenue. Overall, the two segments earned $35.9m, an almost identical sum to that of December.
This impressive month was fuelled by regular NFL matches, including an extended playoffs, as well as an ever-increasing interest in the NBA among the state’s population.
FanDuel overcame its rival DraftKings to be the state’s most used sportsbook, with online wagers being recorded at $132.7m. DraftKings followed narrowly behind, with $132m in bets, a $12m increase from December.
The two sports betting giants earned $12.3m and $5.9m in gross revenue respectively. BetMGM followed, with total wagers of $110.9m and revenue of $10.9m.
Away from sports betting, the state’s online casinos continued to boom, with $121.2m in revenue.
Recently, Trafficology took a look at the potential of iGaming and sports betting in the Great Lake State, which can be found here
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