Sports betting finally became legal in the state of Michigan back in late 2019 as the state’s lawmakers decided to follow the footsteps of other states that have legalized those activities previously. The very first retail (in-person) bets were placed in March of 2020 while online sports betting sites started offering their service and products to the resident of the Wolverine State in January of 2021.
Today, many different renowned Michigan betting sites offer competitive betting odds on all major betting markets such as DraftKings, William Hill, BetMGM, FanDuel, Golden Nugget, FOX Bet, and PointsBet that also operate in other states. Just like in other states, iGaming operators have to work with land-based partners to operate legally so BetMGM partnered with MGM Grand Detroit, DraftKings partnered with Bay Billy Indian Community, BetRivers partnered with Little River Band of Ottawa Indians, and FanDuel partnered with MotorCity Casino.
Gross Gaming Revenues In Michigan Reaching USD 95 Million In March
Speaking of the thriving Michigan online casino gaming and online sports betting industry, it shows signs of exponential growth. The latest report released by the Michigan Gaming Control Board shows that gross gaming revenues in the Lake State surpassed USD 95 million in March 2021. The same report also shows that online sports betting sites in the state generated a staggering USD 32 million in the third month of this year with USD 359 million generated in a total handle.
According to these rising numbers, the state’s online sports betting revenues are taking off and there is no sign of slowing down. The latest report by the Michigan Gaming Control Board suggests that regulated and safe Michigan online casinos are on the right track to generate over or around USD 760 million in gross gaming revenues and this exceeds already high expectations surrounding the legalization of online sports betting and online casinos in January 2021.
When compared to gross gaming revenues from other states, the Wolverine State is the third US state to make over USD 90 million in poker and online casino gross revenues in thirty days or a single month. Only iGaming operators operational in Pennsylvania and New Jersey have managed to do so. March Madness doubtlessly fueled the staggering increase of 19% in sports betting handle when compared to February.
Michigan Leaders in Sports Betting Handle
Sportsbooks in the state of Michigan generated over USD 385 million from online bettors and those who enjoyed retail sports betting opportunities and this is an increase of 17% when compared to the numbers from February. Sports betting operators paid over USD 17 million in taxes to the state in March.
When it comes to the leaders in the state in sports betting handle, FanDuel remains the leader followed by BetMGM, DraftKings, Barstool, PointsBet, WilliamHill, FOX Bet, BetRivers, TwinSpires, WynnBET, Golden Nugget, and Four Winds.
• FanDuel and USD 107 million in sports handle (29% of all bets placed online)
• BetMGM generated USD 92 million from online bets
• DraftKings and USD 76 million in online bets
• Barstool generated USD 39 million from online bets (1.8% drop from February)
• PointsBet took USD 14.2 million in online bet
• The sixth-placed, William Hill took USD 11 million from online bets
