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Michigan sports betting hit a significant milestone in February, passing the $2o billion all-time handle mark despite a significant month-over-month drop in February.
The Michigan Gaming Control Board (MGCB) reported that sports betting operators produced $388.1 million in total bets in February, bringing the total to roughly $20.2 billion since the market opened in 2021. Super Bowl was a big day for betting, naturally, but as the only football game left on the schedule, it wasn’t enough to stave off a sharp decline as the NFL season came to an end.
In addition to the expected seasonality, the sports betting market is also going through a larger downturn. February’s total represented a 32.5% month-over-month decrease from January, and a 6.7% year-over-year decrease.
On the revenue front, favorable game outcomes made February a good month for operators despite lower handle. Sportsbooks enjoyed a solid hold rate of 12.1%, producing $46.8 million in revenue. That marked a 45.3% month-over-month decrease, but a 53.9% year-over-year increase.
February 2025 Michigan sports betting revenue numbers
- Handle: $388.1 million ($379.9 million online)
- Revenue: $46.8 million ($46.0 million online)
- Hold: 12.1% (down from 14.9% last month)
- Month-over-month: Handle decreased 32.5%
- Sports betting taxes: $2.2 million total to state and local taxes
- Top online sports betting app by handle: FanDuel Sportsbook MI with $146.0 million
- Top online sports betting app by revenue: FanDuel Sportsbook MI with $24.3 million
Post-football season is starting to set in
The football schedule continuing to lighten over the winter means that sportsbooks are going to see a decline. In February, the Super Bowl is the last meaningful football game until late August if we include college football, or September for the NFL.
Last year, February experienced a 30.9% month-over-month decrease in handle, which is very similar to last month. Operators will get another shot-in-the-arm in March because of March Madness. It also helps that the state top programs such as Michigan State and Michigan primed to make deep runs in the NCAA Tournament.
Between April and August are going to be some lean months for the vertical. The lowest handle went to was $256.8 million in July. That could be slightly lower in 2025.
FanDuel and DraftKings make up majority of market share
FanDuel and DraftKings being the market leaders in Michigan isn’t anything new—they are the dominant sports betting brands nationally. However, February was a particularly strong month for them, seeing their combined market share grow to nearly 65%.
BetMGM held third place as usual in terms of handle, coming in at $57.3 million. DraftKings almost doubled that total at $106.6 million.
FanDuel and DraftKings are going to continue to lead the market in both handle and revenue.
ESPN BET market share drops again
ESPN BET has been trending in the wrong direction as football season has come to a close. The operator got to 6.8% market share in September, but has tumbled since.
That dropped to 5.9% in December and 5.6% in January. In February, it fell all the way to 5.3%.
For the second straight months, Fanatics once again outpaced ESPN BET in market share. Fanatics recorded $24.8 million in handle, which translates to nearly 6.4% of market share. It finished fourth behind FanDuel, DraftKings and BetMGM.
Michigan sports betting handle for February 2025 by operator
| Licensee | Online Brand | Handle | Revenue | Hold | Taxes |
|---|---|---|---|---|---|
| MotorCity | FanDuel | $145,975,015 | $24,299,804 | 16.60% | $1,686,403 |
| Bay Mills | DraftKings | $106,611,427 | $12,853,475 | 12.10% | $527,897 |
| MGM Grand Detroit | BetMGM | $57,294,748 | $5,112,249 | 8.90% | $16,975 |
| Lac Vieux Desert Band of Lake Superior Chippewa | Fanatics | $24,753,338 | $2,257,133 | 9.10% | $0 |
| Greektown | ESPN Bet | $20,596,448 | $1,748,374 | 8.50% | $3,962 |
| Grand Traverse Band of Ottawa and Chippewa | Caesars | $19,116,138 | ($78,979) | -0.40% | $0 |
| Little River Band of Ottawa | BetRivers | $7,705,011 | $442,852 | 5.70% | $0 |
| Nottawaseppi Huron Band of Potawatomi | FireKeepers | $1,778,896 | $655 | 0.00% | $0 |
| Match-E-Be-Nash-She-Wish Band of Pottawatomi | betParx | $1,624,012 | $93,445 | 5.80% | $0 |
| Sagniaw Chippewa | Eagle | $1,306,507 | $20,935 | 1.60% | $0 |
| Pokagon Band of Potawatomi | Four Winds | $956,866 | $47,969 | 5.00% | $0 |
| Hannahville | SI | $361,014 | $13,600 | 3.80% | $0 |
| Total | $388,079,420 | $46,811,512 | 12.10% | $2,235,236 |
