Michigan Sportsbooks Report Slight Increase in Action for August

Although Michigan’s overall handle did tick up in August, it wasn’t to the extent reported so far by some legal sports betting states, such as New Jersey and Iowa.

Geoff Zochodne - Sports Betting Journalist at Covers.com
Geoff Zochodne • Senior News Analyst
Sep 17, 2021 • 14:41 ET • 2 min read
Blake Corum Michigan Wolverines college football
Photo By - USA TODAY Sports

Michigan sports bettors were in no rush to really rev up their wagering again in August.  

The Michigan Gaming Control Board reported recently that the state’s online and retail sports-wagering handle last month inched up to around $208.6 million, or about 1.1 percent higher compared to the approximately $206.3 million that was bet in July. 

The handle among online sportsbooks was $192.3 million in Michigan in August, while retail operators reported approximately $16.3 million in action. Internet wagering for July had been nearly $188 million, and retail handle was about $18.3 million. 

Gross revenue from sports betting in the state was $17.5 million last month, or a hold of 8.4 percent. In July, gross sports betting revenue among operators amounted to approximately $20.8 million and their win percentage was around 10.1 percent.  

Michigan's top online sportsbook in terms of handle in August was that of DraftKings Inc., with about $61.4 million in wagering. The leading retail book was the Barstool Sportsbook at Detroit's Greektown Casino, which booked nearly $8.8 million in bets.

Yet Michigan's August was a bit of an outlier. Although the state's overall handle did tick up, it wasn’t to the extent of other legal sports betting states that have reported so far, such as New Jersey and Iowa.

Still, Michigan's September haul is likely to benefit from the return of regular-season football, one of the busiest times of the year for legal sportsbooks.

A big iGaming month

And, more broadly, Michigan’s online gambling industry had a solid August. 

Internet gaming operators in the state reported $97.2 million in gross revenue for the month, the Michigan Gaming Control Board said, “producing the highest monthly total since the January launch by surpassing March's $95.1 million total.” 

The iGaming aspect of Michigan’s gambling market may continue to give operators in the state a boost as well.

“Sports betting is compelling at scale,” MGM Resorts International CEO Bill Hornbuckle told a JPMorgan Chase & Co. forum earlier this week. “It's brand-driven. You all see what we're doing out there, we're competing like hell to get (market) share. And that's all fine and good, but where the money ultimately will be — not ultimately, where the money even is today, with only five iGaming states —  is in iGaming.”

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Geoff Zochodne, Covers Sports Betting Journalist
Senior News Analyst

Geoff has been writing about the legalization and regulation of sports betting in Canada and the United States for more than three years. His work has included coverage of launches in New York, Ohio, and Ontario, numerous court proceedings, and the decriminalization of single-game wagering by Canadian lawmakers. As an expert on the growing online gambling industry in North America, Geoff has appeared on and been cited by publications and networks such as Axios, TSN Radio, and VSiN. Prior to joining Covers, he spent 10 years as a journalist reporting on business and politics, including a stint at the Ontario legislature. More recently, Geoff’s work has focused on the pending launch of a competitive iGaming market in Alberta, the evolution of major companies within the gambling industry, and efforts by U.S. state regulators to rein in offshore activity and college player prop betting.

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