Handle At Michigan Online Sportsbooks Takes Downward Turn In May

But with a hold nearing 10% and a robust year-over-year showing, no tears need to be shed
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The Michigan sports betting dead zone was in full bloom this past May in Michigan, with total online sports betting handle dropping to a hair under $333.4 million for the state’s 15 mobile sportsbooks. That marked the lowest monthly number since last September’s $354.2 million, according to figures released by the Michigan Gaming Control Board.

Silver lining, however? It crushed the $237.5 million take from last May, which has to be taken as a positive going forward.  

Gross sports betting receipts totaled $33.5 million for a near 10% hold. Even accounting for free play, the sportsbooks still took in $22.5 million in total adjusted sports betting receipts. On the tax front, nearly $1.1 million was paid to the state and another $693,988 was paid to the city of Detroit.

Individually speaking

For the month, FanDuel Online Sportsbook continued its recent dominance of the market with a $99.3 million month, while BetMGM Sportsbook hit second place for the third month in a row, coming in with $80 million in handle. At $69 million, DraftKings Sportsbook finished third for the third month in a row after finishing either first or second every other month since launch.

Fourth and fifth place looked the same as April. Barstool Sportsbook, one of the few sportsbooks to do better in May handle compared to April, came in at $32.7 million, topping Caesars Sportsbook $27 million – which was also up compared to the previous month.

In sixth place was PointsBet Sportsbook at $8.6 million, followed by BetRivers Sportsbook at $6.4 million and FOX Bet Sportsbook at $2.5 million. WynnBET Sportsbook was next at $2.4 million, and FireKeepers followed at $1.2 million.

Rounding out the rest were Soaring Eagle at $994,747, Golden Nugget Sportsbook Michigan at $992,950, Parx at $741,064, Four Winds at $688,106, and TwinSpires Sportsbook at $614,743.

Photo: Shutterstock

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