Michigan bettors wager $115m online in 10 days

In just 10 days, bettors in the state of Michigan wagered $115m on sports online.

According to the Michigan Gaming Control Board’s (MGCB) latest figures, bettors in the state wagered a total of $150.8m on sports in January.

Online and mobile betting made up the majority of handle in January after bettors wagered $115.2m via online sportsbooks in the 10 days from launch on 22 January through to the end of the month.

Meanwhile, the state’s land-based sportsbooks processed $37.5m in sports wagers.

The state’s 11 online sportsbooks managed to generate $13.3m in gross sports betting revenue, however, adjusted revenue, which allows operators to deduct promotional credits, saw online sportsbooks report a loss of $5.2m. 

Online sportsbook operators paid $111,696 in tax revenue to the state.

How did each sportsbook perform

Looking at the individual operators, FanDuel, which is partnered with MotorCity Casino, was the most popular operator after processing $32.6m in bets. However, the sportsbook operator only managed to generate $622,371 in revenue.

BetMGM, which operates in the state in partnership with the MGM Grand Detroit, generated $5.1m in revenue making it the best performing sportsbook in terms of revenue. However, the operator processed just $22.8m in bets making it the fourth most popular sportsbook.

DraftKings, which is partnered with the Bay Mills Indian Community, took second place for handle and revenue after generating $3.4m in revenue from $28.2m in bets.

Penn National Gaming’s Barstool Sportsbook followed close behind after generating $3.3m in revenue from $27.5m in bets.

Online casino gets off to a strong start

Michigan’s online casino market also got off to a strong start in January, with online operators generating $29.4m in revenue over a nine-day period. Operators in the state paid $4.3m in tax revenue to the state.

Online casino gambling went live in Michigan on the same day as the state’s online betting market. This marks the first time a US state has launched online sports betting and online casino operations at the same time.

When it comes to online casino gambling, BetMGM led the market after generating $11.1m in revenue. DraftKings followed behind with $6.9m in revenue and FanDuel took third place with $6.6m in revenue.

Richard S. Kalm, MGCB executive director said: “Internet gaming operators are off to a good start in Michigan. The taxes and payments from online gaming will provide funding for K-12 students, the city of Detroit and Michigan tribal communities.”

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