- Michigan’s sportsbooks saw a drop in sports betting handles from January to February in a continuation of a nationwide trend; however, handles are still up compared to 2021.
- Despite the slow month for Michigan’s sportsbooks, online casinos in Michigan set a new record for online casino revenue during February.
LANSING, Mich. – In a continuation of a trend seen across the United States, sportsbooks in Michigan saw a drop in betting handle compared to January.
February Handles Down Compared To January, Up Year-To-Year
According to a report issued by the Michigan Gaming Control Board, online sportsbooks in Michigan saw their total handles drop from $496.8 million to $398.3 million from January to February.
Land-based sportsbooks in Michigan saw a similar fall month-over-month, with handles decreasing from $35.8 million in January to $25.3 million in February.
While the decrease in total handle month-over-month looks concerning at first, there are still plenty of reasons for positivity. February legal sports betting handles are down compared to January across the country, primarily as a result of the post-Super Bowl sports down period.
January featured a full NFL regular season week as well as nearly all of the NFL playoffs; February did feature the Super Bowl, but that is not nearly enough to make up for the comparative lack of betting opportunities.
This means that Michigan’s sportsbooks are not necessarily doing anything wrong – the drop in betting handle has more to do with the lack of betting opportunities than anything.
Comparing February’s handle to that of a year ago proves this point: even though February’s handle is down compared to January, the $423.8 million combined handle between online and retail sportsbooks represents a significant increase compared to February 2021, when sportsbooks handled $325.6 million in wagers.
FanDuel Top Dog For February
The top online sportsbook in Michigan for February was FanDuel, which handled $122.4 million in wagers during the month; this was a slight decrease from their January handle of $132.7 million.
DraftKings took in the second-largest handle in February with $94.7 million, while BetMGM placed third with $86.7 million in bets.
Online Casinos Break Revenue Record
Despite the relative down month for sportsbooks, online casinos in Michigan had a record-breaking month. February’s total online casino revenue (including poker) was $122.8 million, just barely breaking the previous record of $121.8 million, set in December 2021. This revenue figure led to approximately $21.6 million in tax revenue for Michigan.
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Jerad has been a welcomed addition to the LegalSportsBetting.com writing team. Covering topics regarding the expansion of sports betting in the US, Jerad focuses on legislative efforts, bill signings and other methods for sports betting legalization. Finishing his education as a college baseball player, Jerad has first-hand knowledge of competitive sports, paired with years of personal sports betting as well. As a political science major at the University of Central Florida, Jerad covers the political, legal, and legislative aspects of sports gambling without any issues.