- Michigan set new sports betting handle record of $497.6 million in October
- The majority of Michigan’s sports betting revenue came from online sports betting.
- FanDuel handled the most October sports bets of any active Michigan sportsbook
DETROIT – Michigan is now among multiple other states who just broke their previous highest monthly sports betting handle in October.
In October, Michigan sportsbooks reportedly handled $497.6 million, just shy of breaking half a million in sports wagers in a single month.
That is a 28.6% increase from September’s previous $386.8 million record monthly handle.
Back To Back Broken Records
- September 2021: $386.8 million
- October 2021: $497.6 million
Although there are over a dozen different operating sportsbooks in Michigan, the majority of sports bets were wagered through three primary books: FanDuel, DraftKings, and BetMGM.
Top Five Michigan Sportsbook Handles (Oct, 2021)
- FanDuel: $123,958,756
- DraftKings: $120,411,750
- BetMGM: $102,184,773
- Barstool: $40,010,642
- Caesars: $36,515,540
$463.3 million of the $497.6 million worth of wagered were placed online rather than retail.
- Retail October sports betting handle: $34,221,337
- Online October sports betting handle: $463,344,087
Sports Betting Revenue Breakdown
The total revenue generated in October was $26.9 million. Just over 90% of the revenue from Michigan’s October sports wagers came from online sports betting.
- Retail sports betting revenue: $2.6 million
- Online sports betting revenue: $24.3 million
While that is by no means a record-breaking number for Michigan, it still generated a solid $775,077 worth of tax dollars – $552,907 of which came from online sports betting specifically.
FanDuel made over $10.3 million in revenue, with BetMGM pulling in $7.4 million. The next closest sportsbook (DraftKings) saw just under $3 million in revenue.
Across the nation, October has been the single largest month in US legal sports betting history.
News tags: Michigan
Evan’s passion for writing has guided his entire life, from winning enough money in writing scholarships to pay for his college, to his hobby of personal fictitious works. Research and writing simply come naturally to him. Whether at work or at home, Evan is probably either researching something he plans to write, or writing it.