June proved to be a tricky month for online sportsbooks in Michigan. Figures released this week by the Michigan Gaming Control Board showed that the state’s betting apps only took in $227 million in sports bets which is a fall of just short of 16% compared to the $270 million taken in June 2022.
There was also the traditional seasonal slowdown as major sporting tournaments vacate the calendar. This meant that there was a slide in the sports betting handle compared to the $288 million recorded in May 2023.
June saw the overall revenues from sports betting in Michigan reaching just above $18 million, which brought in $545,600 in betting taxes for the state.
Interestingly, it’s not just the summer slowdown that has been hitting Michigan’s sports betting revenues. This is because the neighboring state of
Ohio
recently legalized online betting and this already appears to be impacting the Great Lakes State.
In 2023 so far, there has been an 11% drop on the total sports betting handle in Michigan. This has seen the total amount of bets taken in the state only reaching $2.06 billion between January and June, compared to the $2.32 billion taken in the same time period in 2022.
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Who’s winning the battle for the Great Lakes State?
While June has been a tough month for online sportsbooks in Michigan, DraftKings has managed to overcome the problems and actually raised its share of the state’s sports betting handle to 29% compared to just 26% in the previous month.
June saw DraftKings accepting sports bets totalling over $66 million out of a total of nearly $228 million in sports bets taken across the whole of the state.
BetMGM also had a good month. The operator took in nearly $42 million in sports bets in Michigan in June and boosted its share of the overall betting handle by 2% over the previous month giving it 18% of the total sports betting handle.
Although FanDuel still managed to retain its position as the most popular online sportsbook in Michigan, the operator saw its total share of the state’s betting handle slip from 34% in May to 32% in June. FanDuel took $74 million in sports bets within the month.
Elsewhere, there were several other Michigan online sportsbooks who suffered a dip in fortunes this June. Caesars had a sports betting handle of nearly $18 million to take an 8% share of the market which was a single percent less than the previous month.
Barstool also experienced a 1% drop in Michigan betting handle with its $10.5 million in bets taken giving it a 4% share of the state’s sports betting handle.
There are currently 15 sportsbooks operating within the Great Lakes State. With rumors starting to circulate that the Fanatics betting brand could be ready to join the fray, it looks like
sports betting in Michigan
could become even more competitive in the future.
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