Michigan sportsbooks set new record for monthly betting handle

Michigan sportsbooks reported an 85.4% month-on-month increase in total betting handle in September, according to the latest revenue reports published by the Michigan Gaming Control Board.

The report shows that the state’s licensees took in a combined $386.8 million in sports wagers in the month, up from $208.6 million in August. The figure is the highest ever for the state since the legalization of sports betting, surpassing the previous record of $383.7 million set in March.

Out of the total wagered, operators in the state held $27.1 million, an increase of 54.8% from the combined win of $17.5 million posted in the previous month.

Online sports betting handle hits $354.3m

Mobile betting has been the nerve center of Michigan’s sports wagering industry since it was launched in January, and September was no exception.

The state’s online sportsbooks accounted for a huge chunk of the total betting handle, having processed $354.3 million of the amount staked by bettors in the state. The online handle posted in August was $192.3 million, which translates to an improvement of 84.2% month-on-month.

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The gross revenue generated by online wagering in September was $23.7 million, up from $15.9 million in the month prior.

Moving on to retail, the report shows that the three casinos in Detroit handled $32.5 million worth of sports bets in the month, which is almost double the $16.3 million posted in August.

The facilities also saw a massive jump in retail sports betting revenue as the profit increased from $1.65 million in August to $3.46 million in September. These figures translate to a win rate of 10.5% and an improvement of 106.7% month-on-month.

DraftKings on top for second straight month

DraftKings continued its impressive run in September to clinch the top slot in the Michigan sports betting market after toppling FanDuel for the first time in August.

The sportsbook had the highest online betting handle in the state in September at $106.9 million, an increase of 71.4% from the $61.4 million reported in the previous month. The operator’s hold from the wagers placed by online customers in the month was $3.0 million, down from August’s $4.4 million.

The second mobile sportsbook in terms of volume was FanDuel, which posted an online handle of $82.1 million, up from $47.7 million in August. However, the operator’s revenue from mobile betting was the second highest in the state at $7.2 million.

The BetMGM brand came a close third with $81.8 million in handle and an impressive $8.8 million in sports betting revenue.

The BetMGM online app is licensed under MGM Grand casino in Detroit, while DraftKings and FanDuel partner with Bay Mills Resort & Casino in Brimley and MotorCity Casino in Detroit, respectively.

Here is how the rest of Michigan’s licensed sportsbook apps performed in September. The figures below show the online sports betting handle posted by each operator in the month.

• Barstool Sports (Greektown Casino) – $29.5 million
• Caesars (Turtle Creek Casino) – $23.9 million
• PointsBet (Northern Waters Casino) – $13.5 million
• FoxBet (Odawa casinos) – $5.2 million
• BetRivers (Little River Casino) – $3.4 million
• WynnBet (Kewadin casinos) – $2.3 million
• TwinSpires (Island Resort & Casino) – $1.6 million
• Play Gun Lake (Gun Lake Casino) – $1.5 million
• Firekeepers.com (FireKeepers Casino) – $1.03 million
• Golden Nugget (Ojibwa Casino) – $1 million
• Fourwindscasino.com (Four Winds casinos) – $588,732