Michigan Sportsbooks Take $250 Million In Bets In April

Handle was predictably down from March, per state figures
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With no major sporting events on the calendar and March Madness fading into memory, the online sportsbook handle in Michigan took a big hit in April, with $249.9 million in bets placed, a decrease of over 30% from March’s $359 million.

A deeper dive into the numbers shows FanDuel maintaining the number one slot in handle, with $72.4 million. DraftKings took the number two slot away from BetMGM, with a $61.5 million month. BetMGM took the bronze, with $54.9 million.

The big three in Michigan were trailed by Barstool, which held on in fourth with a $24.8 million handle. PointsBet took a little over $14 million in bets, which was about the same number as in April; clearly, the arrow seems to be pointing up for the Australia-based operator.

Rounding out the list

The rest of the online handle numbers are as follows: William Hill, $7 million; FOX Bet, $5.4 million; BetRivers, $2.8 million; TwinSpires, $1.9 million; WynnBet, $1.8 million;  Golden Nugget, $874,114; and Four Winds, $345,719.

Revenue for the sportsbooks was $20.4 million, and after accounting for promotional play, the total adjusted gross sports betting receipts came in at $10.9 million, for a hold of 4.3%.

As for the individual sportsbooks, only six turned a profit and thus paid taxes, which, for the month, came to a total of $325,824.

FanDuel led the way, with adjusted gross receipts of over $5.2 million. It was followed by BetMGM at $3.8 million, Barstool at $1.2 million, DraftKings at $998,294, FOX Bet at $163,175, and WynnBet at a shade over $89,000.

Image: Shutterstock

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