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.
Gross receipts for iGaming came out to $278.5 million, the highest monthly total in state history. That contributed heavily to the $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.
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