- There was $208.6 million wagered on sports in Michigan for August, up 1.1% month-over-month.
- Sports betting revenue dipped 15.5% to $17.5 million for the state.
- However, this NFL season will be the first full season for the Michigan online betting market.
LANSING, Mich. – Michigan saw a slight bump in betting activity in August as sports bettors were preparing for their first full NFL season with online sportsbooks active.
Michigan launched online betting in January and has seen solid success ever since but the lack of sporting options in the summer has seen strong dips in betting handle.
This is expected to change as the NFL betting season commences and local gamblers place action on their beloved Detroit Lions.
Michigan’s Official Revenue Report
According to the official report released by the Michigan Gaming Control Board (MGCB), sportsbooks saw $208.6 million in wagers for August. This is a 1.1% increase in activity month-over-month.
Sports betting revenue saw a decline, however, as sportsbooks collected $17.5 million in August, down 15.5% from June’s numbers. This created a hold rate of 8.4%, and the state saw $679,308 in taxes because of it.
Mobile Sportsbooks Dominate
Yet again, the Michigan sports betting market saw most of its action come from mobile and online sportsbooks. Mobile platforms saw $192.3 million of the total wagers in August; that’s 92.1% of the market as a whole.
In an interesting turn of events for the month, FanDuel was not the number one sportsbook in Michigan, as it has continually been the top operator since the market launched in the state.
DraftKings saw $61.4 million wagered on sports, claiming 31.9% of the market. FanDuel was the runner-up, seeing $43.7 million wagered at its online operation for 24.8% of the market. BetMGM rounds out the top three with $43.7 million in wagers for 22.7% of the online market.
Incoming NFL Wagers
The NFL season will likely see Michigan’s spike in betting activity continue as football is the most wagered on sport in the country. Michigan’s early success with its online market came during the NFL Playoffs and Super Bowl betting.
A full NFL season will see betting activity boom in the Great Lakes State. This is likely the last month of the year that Michigan sportsbooks will see such low numbers.
Coming from a background in narrative-based writing, Giovanni strives to write stories that will keep the reader engaged. Although he does pride himself in being accurate, how the story is told is also very important to him. When he’s not keeping readers up to date on sports betting laws and legislation, you can find him writing and recording music, playing videogames, or engaged in heated sports debates with his friends.