Michigan’s sportsbooks are the latest to come down with a case of the summertime blues.
The Michigan Gaming Control Board reported figures recently showing the state’s online and retail sports-wagering handle for July was approximately $206.3 million, a 20.5-percent drop from the $259.5 million in bets booked for June.
Total internet sports wagering in Michigan last month was just shy of $188 million, down from $235.1 million in June. The total retail handle for July was approximately $18.3 million, a decline from the nearly $24.4 million reported for June.
Gross sports betting revenue among operators was about $19.6 million for online and $1.2 million for retail, making for a combined total of $20.8 million and a hold of around 10.1 percent.
Both figures were down from June, when sports-wagering revenue clocked in at approximately $27.2 million and the unofficial win percentage for Michigan sportsbooks had been almost 10.5 percent.
Leading the way among online sportsbooks last month was FanDuel, which booked $54.5 million in internet handle.
Yet the overall dip in Michigan matches up with similar declines seen in both Indiana and Iowa, as all states have to contend with a weaker slate of bettable sporting events and summer vacations.
"Summer is here, and Michigan is reopening after the pandemic restrictions so there are many entertainment opportunities,” noted Henry Williams, Michigan Gaming Control Board executive director, in a press release last month.
A new kid on the block
The Michigan Gaming Control Board said 13 operators were authorized to conduct both internet gaming and online sports betting in July.
However, that number has already increased by one after the regulator announced July 30 it had given the green light to the Gun Lake Band of Pottawatomi Indians of Michigan, as well as their platform provider, to launch online sports betting on August 2. The tribe had previously been authorized to launch internet casino gambling on April 23.
"With Gun Lake Casino now fully authorized, 14 current Michigan operators and their platform providers may offer both internet casino gaming and online sports betting to patrons," Williams said in a press release. "The associated revenue payments will support responsible gaming, the First Responder Presumed Coverage Fund, K-12 education and economic development."
