The Michigan Gaming Control Board reported $73.8 million in gross receipts from sports betting during October, marking 123.6% year-over-year growth.
Key Takeaways
- Michigan sportsbooks accepted more than $600 million in wagers, crushing month-over-month and year-over-year totals.
- iGaming produced a Michigan monthly record of $278.5 million in gross receipts.
- FanDuel dominated the sports betting market with $50 million more in wagers than its closest competitor.
Michigan’s strong month of sports betting was powered by a $605.9-million handle, 8.1% higher than October 2024's total and 15.6% above the September handle.
The handle figure also means that sportsbooks produced an impressive 12.2% hold on gross receipts.
The overall performance is a welcome sign after September’s massive disappointment. Sportsbooks claimed one-fourth less revenue than they did the year before despite the handle increasing 2.7% year-over-year.
Sportsbooks combined to post $3.4 million in sports betting taxes, part of a $58-million monthly haul from the state’s entire online gambling industry. Retail casinos contributed an additional $15 million in payments.
All in all, online Michigan sports betting operators have produced a handle of $4.3 billion, $500 million in gross receipts, and $18.4 million in state taxes since the start of the year.
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FanDuel leads way ... again
| Online Sportsbook | Handle | Adjusted Gross Receipts (AGR) |
|---|---|---|
| FanDuel (MotorCity Casino) | $230.5 million | $17.5 million |
| DraftKings (Bay Mills) | $180.5 million | $16.8 million |
| BetMGM (MGM Grand) | $70.5 million | $7.3 million |
| Fanatics (Lac Vieux Desert Band) | $50.3 million | $2.5 million |
| ESPN Bet (Greektown) | $28.6 million | $2.4 million |
| Caesars (Grand Travers Band of Ottawa) | $25.4 million | $1.7 million |
FanDuel dominated Michigan’s market for yet another month, posting a $230.5-million handle and $17.5 million in gross receipts. Those marks represented 9.1% and 103.6% year-over-year improvements.
DraftKings was also in its customary runner-up position with $180.5 million in wagers, a YoY improvement of 12.9%. It also produced $16.8 million in adjusted gross receipts after finishing last October in the red.
BetMGM rounded out the podium with $70.5 million in accepted bets and $7.3 million in AGR. The handle was down 16.4% YoY, but the receipts were nearly 11 times higher than the $686,078 reported one year ago.
Fanatics led the chase pack with $50.3 million in handle, up 70.6% YoY, and $2.5 million in AGR after finishing more than $1.1 million below the breakeven mark in October 2024.
PENN Entertainment - which this month announced an early termination of their ESPN Bet agreement - posted a $28.6-million handle, down 9.2% YoY, although AGR was up 110.3% during that same period.
Caesars rounded out the top six with $25.4 million in wagers and $1.7 million in AGR. Those marks were down 8% and up 136.1% YoY, respectively.
iGaming soars
The biggest news in the Great Lakes State’s gaming industry during October was the resounding success of Michigan online casinos.
According to the Michigan Gaming Control Board, iGaming gross receipts came out to $278.5 million, the highest monthly total in state history. That contributed to $352.3 million in total gross receipts from online gambling (iGaming and online sports betting).
iGaming AGR was also up 31.8% YoY to $261.7 million.
