Michigan sports betting saw double-digit increase in March
© USA Today
Thanks to March Madness, Michigan sports betting numbers have increased across all categories.
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The Michigan Gaming Control Board brought in a monthly handful of $480 million, up 13.3% from February’s $423.8 million, also 25.1% higher than February’s $383.7 million. March 2021 dollars.
Online betting accounted for $451.6 million of the total, up 13.4% from February’s $398.4 million and 25.6% more than March’s $359.5 million 2021.
Michigan’s total adjusted sports betting gross revenue was $16.6 million for March ($14.7 million online, $1.9 million retail), down 24.1% from the $21.9 million from March 2021. In February, gross gaming revenue was -$4.8 million.
Michigan’s state sports betting tax was $878,225 ($805,384 online, $72,891 retail), a 143.7% increase from February’s $360,354.
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Michigan Sports Betting, March vs February
|Full handle||Movable handle||Turnover (GGR)|
|March||$479.968 million||$451.613 million||$16.592 million|
|February||$423.768 million||$398.395 million||Minus-$4.822M|
|Switch||Up 13.3%||Up 13.4%||——|
Top FanDuel Operator
For the third consecutive month, FanDuel Sportsbook took Michigan’s largest monthly handle. FanDuel grossed $140.1 million in total, while BetMGM ($108.1 million) and DraftKings Sportsbook ($102.9 million) rounded out the top three.
FanDuel was also the most profitable with $8.7 million in adjusted gross sports betting revenue. BetMGM brought in $4.5 million in adjusted gross sports betting revenue and DraftKings was third with $865,293.
March was a profitable month for Golden Nugget Sportsbook, which is in partnership with the Indian community of Keweenaw Bay. Golden Nugget brought in $261,894 in adjusted gross sports betting revenue, a marked improvement from $39,897 in January and $19,054 in February.
PointsBet gained market access through an agreement with the Lac Vieux Desert Band of Lake Superior Chippewa Indians and has also enjoyed a profitable market. PointsBet reported negative adjusted gross receipts for sports betting in January (-$254,180) and February (-$343), but had $338,796 in March.
Soaring Eagle Gaming Approved as 15th Operator
Soaring Eagle Gaming became the 15th operator to launch its online sports betting and online casino games on April 14 after receiving clearance from the Michigan Gaming Control Board. The app and website operate under the Eagle Casino and Sports brand. Soaring Eagle Gaming has partnered with GAN as a platform provider.
“Michigan now has a full complement of 15 internet gaming and sports betting providers licensed by Eagle Casino and Sports,” Michigan Gaming Control Board Executive Director Henry Williams said in a press release. . “All of Michigan’s federally recognized tribes offer Internet gaming and sports betting. I commend the Saginaw Chippewa Tribe as they expand their game offerings.
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