Michigan Posts Strange Sports Betting Numbers
The Michigan sports betting numbers are in for September, and it was a strange month. Michigan sportsbooks didn’t see much action but the revenue was high.
Michigan Posts Strange Sports Betting Numbers
The state of Michigan has been hard to figure out when it comes to legal sports betting in the United States. This market quickly emerged as one of the leaders in the country, but then things started to cool off pretty rapidly.
The September numbers for Michigan are in, and it was a pretty significant jump from August as expected, but sportsbooks are actually seeing less action than they did a year ago. The total sports betting handle for the month was $383.1 million, and the total revenue was $50.4 million.
It was the Michigan Gaming Control Board that announced the September numbers and the handle jumped up by 66% from the month of August. What has the state concerned though is that the total sports betting handle in September 2022 was actually lower than it was a year ago.
This number might be concerning to the state of Michigan, but there have been two other states that have seen similar numbers. Both Iowa and New Jersey have seen year-over-year handle numbers decrease, and it could be that bettors are simply starting to slow down.
Even though there was less action at the sportsbooks last month, the total win rate was over 13.4% at the online sportsbooks. This was a massive improvement from a year ago, and it is well over the national average of 7%.
DraftKings Dominating the Market
Michigan is a state that is loaded with online sports betting options, but some of the biggest names continue to lead the charge. Battling it out for the top spot has been close in some months, but it was DraftKings Sportsbook that set the tone in September.
The total sports betting handle at the DraftKings online sportsbook was $108.2 million last month, which barely pushed it past FanDuel at $106.3 million. FanDuel had a much better win rate and it led all online sportsbooks with a total revenue of $19.0 million
BetMGM is the other major player in the state of Michigan and the rest of the online sportsbooks are struggling to keep up. There are just three commercial casinos in the state, and that has led to nearly all of the betting being done online.
No In-Person Action
As mentioned in the previous section, sports bettors in the state of Michigan continue to do a majority of the sports betting at the online sportsbooks rather than in person. The online sports betting handle accounted for more than 95% of all wagers placed in September, and the number has actually been higher than that at times.
It was the Barstool Sportsbook at the Greektown Casino that led all in-person sportsbooks with a total sports betting handle of $8.8 million. Barstool has developed a solid presence in Michigan, but it’s DraftKings that seems to control the NFL season.
