The Michigan Gaming Control Board (MCGB) reported the best September yet for sports betting apps in the Great Lake State. The record September handle and revenue came in at $523.8 million and $59.2 million, respectively.
To no surprise, Michigan sportsbooks saw a massive bump in handle and revenue because of a full slate of NFL, college football and a surprise run by the Detroit Tigers into the MLB postseason. Sports betting handle jumped up 80.8% month-over-month and increased 10.1% year-over-year, compared to Sept. 2023.
Michigan sports betting revenue also experienced a 29.8% year-over-year bump and a 103.4% increase from August.
September 2024 Michigan sports betting revenue numbers
- Handle: $523.8 million ($501.8 million online)
- Revenue: $59.2 million ($58.4 million online)
- Hold: 11.3% (up from 10.0% last month)
- Month-over-month: Handle increased 80.8%
- Sports betting taxes: $2 million total to state and local taxes
- Top online sports betting app by handle: FanDuel Sportsbook MI with $187.7 million
- Top online sports betting app by revenue: FanDuel Sportsbook MI with $24.4 million
Four takeaways from September sports betting revenue report
#1 Excitement around Lions, Tigers
The football season automatically changes the sports vibe for bettors. However, the Tigers’ magical run in September definitely brought even more excitement to sports betting in Michigan.
The Tigers went 17-8 in September to clinch a Wild Card berth in the MLB playoffs. That added to the Lions’ 3-1 start fresh off of last year’s NFC Championship game appearance.
That sparked the MGCB to issue a warning to Michiganders to bet responsibly.
The Tigers’ run continued into October with a two-game sweep over the Astros in the first week of October. However, their run ended when they lost in five games to the Cleveland Guardians in the NLDS in October.
#2 ESPN BET shows improvement
ESPN BET has come under fire recently for poor performance since launching last fall. However, the first full month of football season saw a noticeable uptick in their market share over July and August, at least.
While it’s definitely a trend in the right direction, there are still three months of full slates of football left. ESPN BET is hoping to get back in the double-digit range for market share by the time December and January roll around.
#3 FanDuel crosses $5.5 billion in lifetime handle
FanDuel is clearly the No. 1 sportsbook operator in the US. That especially rings true for the Great Lakes State. The FanDuel app in Michigan exceeded $5.5 billion in lifetime revenue in September.
FanDuel has proven tops in Michigan since launching in January 2021. The brand awareness and loyalty the platform has acquired is certainly off the charts. That goes without mentioning the app’s top-tier product and parlay mix.
FanDuel’s lifetime hold percentage is a staggering 11.4%. It’s the only operator in the state with a hold figure of more than 10.0%. BetMGM has the second-best percentage at 9.5%.
#4 BetRivers struggles at start of football season
BetRivers took a hit in September, only generating $7.8 million in handle. That output is down 64.5% from last September when they reported $22.4 million in handle.
The competition in the Michigan market has gotten slightly tougher, especially as ESPN BET’s improvement may be taking some market share from other long-standing brands in Michigan. The emergence of Fanatics, too, could be another contributor to BetRivers’ slow start to the football season.
BetRivers has an uphill battle to catch Fanatics, who produced $23.9 million in total bets, an all-time high for that brand in Michigan.
Michigan sports betting handle for September by operator
Licensee | Online Brand | Handle | Revenue | Hold | Taxes |
---|---|---|---|---|---|
MotorCity | FanDuel | $187,697,760 | $24,392,455 | 13.00% | $1,371,711 |
Bay Mills | DraftKings | $155,857,996 | $17,380,438 | 11.20% | $484,020 |
MGM Grand Detroit | BetMGM | $79,467,584 | $9,894,764 | 12.50% | $50,551 |
Greektown | ESPN Bet | $35,463,828 | $1,939,032 | 5.50% | $11,920 |
Grand Traverse Band of Ottawa and Chippewa | Caesars | $26,292,070 | $1,835,004 | 7.00% | $94,323 |
Lac Vieux Desert Band of Lake Superior Chippewa | Fanatics | $23,861,917 | $2,771,461 | 11.60% | $0 |
Little River Band of Ottawa | BetRivers | $7,786,308 | $477,951 | 6.10% | $0 |
Sagniaw Chippewa | Eagle | $2,656,774 | $248,046 | 9.30% | $17,284 |
Nottawaseppi Huron Band of Potawatomi | FireKeepers | $1,676,911 | $545 | 0.00% | $0 |
Pokagon Band of Potawatomi | Four Winds | $1,354,740 | $110,238 | 8.10% | $0 |
Match-E-Be-Nash-She-Wish Band of Pottawatomi | betParx | $1,059,679 | $74,414 | 7.00% | $0 |
Hannahville | SI | $601,083 | $92,188 | 15.30% | $0 |
Keweenaw Bay | Golden Nugget | $0 | $0 | $0 | |
Sault Ste. Marie Tribe of Chippewa | WynnBet | $0 | $0 | $0 | |
Little Traverse Bay Bands of Odawa | Fox Bet | $0 | $0 | $0 | |
Total | $523,776,650 | $59,216,535 | 11.30% | $2,029,809 |