Michigan Sports Betting Slows in July, but Books Reap More Revenue – Covers

Numbers recently released by the Michigan Gaming Control Board show the state's retail and online sportsbooks took almost $225 million in bets during July, down around 23% compared to June.

Last Updated: Aug 19, 2022 12:03 PM ET Read Time: 1 min

Baseball alone just isnt cutting it for Michigan sportsbooks, although operators in the state are churning out a solid amount of revenue from a weaker level of wagering.

Numbers recently released by the Michigan Gaming Control Board show the state's retail books and online sports betting websites took almost $225 million in bets during July, down around 23% compared to Junes $292.4 million in wagering.

Online sports betting accounted for $206.1 million of Julys total, with about $18.9 million in wagering at Detroits three downtown casinos making up the remainder of the handle.

The weaker wagering for the month has been par for the course in July for every state with some form of legal sports betting. No NFL football and no more playoffs for the NBA and NHL left bettors with MLB and less-popular sports, which wasnt enough to drive an increase in handle.

Still, gross sports betting revenue last month in Michigan was about $22.9 million, giving operators a hold of almost 10.2% for July. Both figures were greater than Junes take for the books, when operators registered gross revenue of about $15.9 million and a win rate of 5.4%.

The leading online sportsbook for the month by handle was FanDuel, which took $60.1 million in bets. Second was DraftKings, with $57.5 million in wagering, and then BetMGM, with about $44.6 million in handle. The busiest retail sportsbook in the state last month was the Barstool Sportsbook at Greektown Casino, which took $9.6 million in wagers.

Fifteen online sportsbooks were licensed to do business in Michigan during July. After deducting around $7.6 million in free bets and other promotions, mobile operators owed $815,409 in taxes for the action they took during the month.

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Michigan Sports Betting Slows in July, but Books Reap More Revenue - Covers