This past NFL season was a volatile one for national betting markets, with sportsbooks cleaning up one month and bettors battling back the next. This January, it was the Michigan sportsbooks coming out on top, collecting $85.6 million, setting a new revenue record thanks largely to a whopping 14.9% hold rate.
The Michigan Gaming Control Board (MGCB) reported that operators generated $574.6 million in handle, which is a month-over-month decrease of 6.9% and a year-over-year decrease of 4.5%.
Despite the slight dip in handle on both occasions, operators were still able to cash in a record-breaking January. Much of the success can be attributed to the Detroit Lions‘ early playoff exit in January. BetMGM Sportsbook‘s public relations contact, John Ewing, told PlayMichigan the impact on the Lions’ loss to the Washington Commanders in the Divisional Round of the playoffs last month:
“The Lions were the most bet teams to win the Super Bowl and the NFC. Detroit losing to Washington was one of the best outcomes in the playoffs for the sportsbook.”
The Lions had been the best team with the best record in the NFL all year, and a top favorite to the win the Super Bowl. It’s clear that operators cashed in from Michiganders backing the hometown team.
January 2025 Michigan sports betting revenue numbers
- Handle: $574.6 million ($555.2 million online)
- Revenue: $85.65 million ($83.1 million online)
- Hold: 14.9% (up from 3.3% last month)
- Month-over-month: Handle decreased 6.9%
- Sports betting taxes: $4.3 million total to state and local taxes
- Top online sports betting app by handle: FanDuel Sportsbook MI with $218.3 million
- Top online sports betting app by revenue: FanDuel Sportsbook MI with $40.6 million
Lions early playoff exit helped MI sportsbooks
The Lions were building off a strong 2023 campaign after losing in the NFC Championship game to the San Francisco 49ers. They certainly had huge expectations heading into the 2024 season.
The Lions lived up to them in regular season, clinching the No. 1 seed in the NFC with a 15-2 record. That set up a date with the Commanders in the Divisional Round of the playoffs.
Ewing provided PlayMichigan with the final tabulation of bets and money on a regional scale, along with nationally. Those in Michigan backed the Lions against the Commanders, with 82% of bets and 89% of the money to cover the 8.5-point spread. Fans outside of Michigan believed more in the Commanders, with 51% of bets and 54% of the money on Washington to cover.
That’s not to mention all of the NFC and Super Bowl tickets Michiganders failed to cash at the start of playoffs.
Fanatics passes ESPN BET in handle
After months of chasing down ESPN, Fanatics finally passed the operator in handle for the first time in January. By doing so, the operator moved into the top four in total bets for the month.
| Fanatics | ESPN BET | |
|---|---|---|
| September | $23.7 million | $35.5 million |
| October | $29.5 million | $38 million |
| November | $36.2 million | $38.8 million |
| December | $34.8 million | $36.4 million |
| January | $32.7 million | $32.2 million |
Fanatics has been ascending in the market, while ESPN has going in the wrong direction. It produced only a 5.6% market share after posting 5.9% in December. ESPN got as high as 6.8% in September.
Michigan sportsbooks closing in on $20 billion in lifetime handle
The Great Lakes State is less than $200 million away from crossing the $20 billion lifetime handle threshold. The market should achieve that in February.
FanDuel is far and away the market leader in Michigan. It has generated the most handle ($6.5 billion) and revenue ($725.7 million) all time. DraftKings is second with $5 billion and $376.6 million, respectively.
Michigan sports betting handle for January 2025 by operator
| Licensee | Online Brand | Handle | Revenue | Hold | Taxes |
|---|---|---|---|---|---|
| MotorCity | FanDuel | $227,346,474 | $41,807,282 | 18.40% | $2,721,585 |
| Bay Mills | DraftKings | $151,712,404 | $22,050,793 | 14.50% | $1,210,337 |
| MGM Grand Detroit | BetMGM | $81,592,175 | $10,739,507 | 13.20% | $38,489 |
| Lac Vieux Desert Band of Lake Superior Chippewa | Fanatics | $32,754,560 | $4,307,361 | 13.20% | $180,991 |
| Greektown | ESPN Bet | $32,217,652 | $3,527,412 | 10.90% | $73,202 |
| Grand Traverse Band of Ottawa and Chippewa | Caesars | $30,125,658 | $1,680,612 | 5.60% | $106,930 |
| Little River Band of Ottawa | BetRivers | $10,992,197 | $1,049,300 | 9.50% | $0 |
| Sagniaw Chippewa | Eagle | $2,189,337 | $183,887 | 8.40% | $13,005 |
| Nottawaseppi Huron Band of Potawatomi | FireKeepers | $1,836,651 | ($11,894) | -0.60% | $0 |
| Pokagon Band of Potawatomi | Four Winds | $1,698,423 | $78,391 | 4.60% | $0 |
| Match-E-Be-Nash-She-Wish Band of Pottawatomi | betParx | $1,454,728 | $155,585 | 10.70% | $0 |
| Hannahville | SI | $707,915 | ($7,600) | -1.10% | $0 |
| Total | $574,628,174 | $85,560,634 | 14.90% | $4,344,539 |
