Michigan’s online sports betting market generated $50 million in revenue, a 17.3% rise over April's total and a 19.3%year-over-year increase.
Key takeaways
- The Wolverine State's sports wagering handle rose year-over-year, but decreased month-over-month.
- Michigan's iGaming sector produced a healthy revenue share, thanks to legalized online casino gambling.
- FanDuel led all state sports betting operators in handle and profit.
Handle also rose 12.3% year-over-year to $386.1 million, though that was down 9.6% on the $427 million reported during April. That can be explained by the Detroit Pistons' elimination from the NBA Playoffs on May 1 and March Madness' conclusion in early April.
An almost 13% monthly hold on gross receipts significantly outpaced the national average. It also beat out April's 10.1% and was the year's second-highest total, only trailing 14.9% from January.
Operators paid $2 million in online sports betting taxes and fees. The state also received $651,441 in other taxes.
Sports betting, iGaming continue to flourish
Adjusted internet sports betting gross receipts hit $35.6 million, 35.6% above April and 26.6% higher than May 2024.
Despite the overall success, sports betting still paled in comparison to the state’s iGaming market. The latest revenue report showed online casino games, such as slot machines and table games, generated $251.5 million in income.
Michigan is one of only seven states that legalized online casinos.
FanDuel holds onto the top spot
| Operator | May Handle | Revenue |
|---|---|---|
| FanDuel (MotorCity Casino) | $139.5 million | $22.6 million |
| DraftKings (Bay Mills Indian Community) | $108.2 million | $12.5 million |
| BetMGM (MGM Grand Detroit) | $54.7 million | $7.4 million |
| Fanatics (Lac Vieux Desert Band) | $30.7 million | $3.4 million |
| Caesars (Grand Travers Band of Ottawa and Chippewa) | $24.4 million | $1.4 million |
| ESPN Bet (Greektown) | $15.8 million | $1.8 million |
FanDuel, to no surprise, matched its national sports betting preeminence with dominance in Michigan. The operator posted a $139.5 million handle and $22.6 million revenue for May, earning the top spot for yet another month.
DraftKings was second place with a $108.2 million handle and $12.5 million income, outperforming its $10.5 million April revenue total despite accepting more than $6 million in fewer wagers.
BetMGM was the last legal sportsbook to get on the podium. It reported a $54.7 million haul and $7.4 million profit, also showing an improved revenue count with a lower handle.
Fanatics finished fourth with $30.7 million in handle and $3.4 million in revenue; Caesars was fifth with a $24.4 million handle and $1.4 million income; and ESPN Bet was sixth with $15.8 million and $1.8 million, respectively.
Michigan regulators bans five online casinos
Michigan was in the headlines this week for its continued efforts to rid its market of illegal operators.
The Michigan Gaming Control Board sent cease-and-desist orders to five illegal online casinos it claimed violated the Lawful Internet Gaming Act, the Michigan Gaming Control and Revenue Act, and the Michigan Penal Code.
Michigan also previously issued cease-and-desist orders to several offshore books, including BetUS and Bovada.
