Michigan Sportsbooks Set Another Monthly Handle Record In December

Nearly a half-billion was wagered as the state completed first year of sports betting
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Pop the champagne for the third month in a row, as Michigan sportsbooks have set another handle record with December betting volume of $484.6 million. The sportsbooks’ handle surpassed November’s high water mark of $473.8 million, according to numbers released Tuesday by the Michigan Gaming Control Board.

DraftKings Michigan continued to lead the way, with $120.3 million in handle, but former No. 1 FanDuel Sportsbook Michigan came oh-so-close to regaining the top spot with a $119.9 million month. Meanwhile, BetMGM Sportsbook’s stranglehold on third place is the most secure it’s been since launch, with a $108.7 million month.

In fact, this was BetMGM’s biggest month to date, and it is starting to appear the race for first might turn into a three-horse affair.

Barstool held on to fourth place, with $45.9 million in handle. Caesars Sportsbook at $38.4 million and PointsBet Sportsbook Michigan at $28.2 million were the only two other sportsbooks to take in eight digits in bets.

The rest of the sportsbooks were as follows: BetRivers Sportsbook Michigan, $7 million; FOX Bet Michigan, $5.6 million; WynnBet Michigan, $3.2 million; Parx, $2.4 million; FireKeepers, $1.6 million; TwinSpires, $1.5 million; Golden Nugget Online Sportsbook Michigan, $1.2 million; and Four Winds, $605,477.

The sportsbooks took in $34.8 million in total gross receipts for a hold of 7.2%. But over $24 million of the gross receipts could be written off as promotional play, meaning the sportsbooks paid a little over a million dollars in taxes to the state and to the city of Detroit.

Big year

Of course, this marks the end of the wildly successful first year for online sportsbooks in Michigan.

For the year — which didn’t start until Jan. 22, as that’s when online sportsbooks became legal in the state — the total handle was a shade under $3.6 billion. The books had $292.1 million in gross receipts, which was shaved down to $110.6 million after promotional play. All told, the online sportsbooks paid over $11.2 million in taxes in 2021.

Photo: Shutterstock

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