DraftKings to FanDuel: I’m the captain now.
For the first time since launch, FanDuel has ceded the No. 1 position when it comes to total handle in the Michigan online sportsbook world. In August, DraftKings took in $61.4 million, walloping the now-second place FanDuel, which finished the month with $47.6 million in handle. For DraftKings, this meant it took nearly a full third of the Michigan sportsbook pie for the month; FanDuel, nearly a quarter.
Coming in third place was BetMGM, hot on the heels of FanDuel, with $43.6 million in handle. All told, the state’s sportsbooks took in $192.3 million for the month, an increase of 2.3% from July’s figures.
PointsBet finished sixth with $6.1 million (its fifth straight month of decreasing handle), while BetRivers took in $3.1 million and FOXBet hauled in $2.5 million. Meanwhile, FireKeepers made a huge leap to $1.1 million, TwinSpires raked in $1 million, and WynnBet notched $883,495 — its worst full month ever. As for the rest, Golden Nugget handled $668,502, FourWinds took in $483,991, and Gun Lake reported $455,331.
For the month, the sportsbooks took in a little over $15.8 million in total gross sports betting receipts for a hold of 8.2%. The sportsbooks also paid $540,705 in taxes.
Year-to-date, Michigan’s sportsbooks have handled over $1.8 billion in bets and have paid nearly $4 million in taxes.
New casino record
All told, BetMGM took 41% of the market share. For some perspective on that number, it takes the next four casino operators combined — FanDuel at $14.2 million, DraftKings at $12.6 million, BetRivers at $7.1 million, and Golden Nugget at $5.3 million — to even come close to matching BetMGM’s revenue number.
For the month of August, Michigan’s online casinos took in $97.2 million in gross receipts, a new all-time record, besting March’s $95 million number.
Rounding out the rest of the online casinos, WynnBet took in $5 million, Stars was at $3 million, Barstool at $2.5 million, FourWinds at $2.5 million, Gun Lake at $1.3 million, FireKeepers at $1 million, TwinSpires at $1.3 million, Caesars at $822,343, and PointsBet at $508,009.
The online casinos paid out $17.9 million in taxes to the state for the month.