March Madness Spurs $359.5 Million Month In Michigan Online Sports Betting

Posted By Matt Schoch on April 20, 2021

March Madness and Michigan sports betting couldn’t get off the ground last spring.

Both came back this year, and in a very strong way.

The annual men’s basketball NCAA Tournament returned to help boost the state’s new online sports betting market, with $359.5 million of bets placed in March over the state’s 12 platforms.

That’s a 19.1% increase over February, the state’s first full month of online sports betting.

Through 69 reported days since launch, $776.5 million in sports bets has been placed.

Since sports betting launched in March 2020 in Detroit’s casinos, Michiganders have wagered a reported $990.8 million on sports.

That figure does not include retail sports betting at tribal casinos, which do not report on-site figures. Even without tribal betting, Michigan certainly crossed the $1-billion mark early in April with MLB’s opening day and college basketball’s Final Four leading the sports calendar.

FanDuel first in handle again; Barstool’s share dropping

FanDuel Sportsbook led the market in handle, taking $107.2 million in bets, good for a 29.8% market share. BetMGM was second, with $92.6 million in handle and a 25.8% share. DraftKings was third, with $76.5 million in handle and a 21.3% share. Barstool Sportsbook had a $39.6 million handle for fourth, an 11.0% share. PointsBet rounded out the top five with $14.2 million handle, a 3.9% share.

FanDuel’s leading market share continues to inch closer to 30%, going up from 28.3% in January and 28.9% in February. Meanwhile, Barstool has slid from 23.9% in January, down to fourth place and 13.3% in February to 11.0% now in March.

Operators reported $19.0 million of adjusted revenue in March, bringing overall totals to $3.0 million since launch. A swarm of free bets and other promotions have impacted that tally.

LicenseeOnline BrandTotal HandleOnline HandleRetail HandleRevenue (GGR)PromosState TaxLocal Tax
MotorCityFanDuel$114,479,965$107,196,819$7,283,146$9,047,837$2,775,937$48,251$58,973
MGM GrandBetMGM$100,116,967$92,629,052$7,487,916$9,575,256$2,328,564$407,873$280,580
Bay MillsDraftKings$76,504,589$76,504,589?$6,034,906$2,361,940$0$0
GreektownBarstool$49,023,572$39,552,903$9,470,669$5,514,877$1,105,579$165,326$124,131
Lac Vieux DesertPointsBet$14,192,739$14,192,739?$2,241,392$2,277,883$0$0
Grand TraverseWilliam Hill$10,997,415$10,997,415?$1,033,670$906,555$10,678$0
Little Traverse BayFox Bet$6,997,278$6,997,278?$503,063$365,165$934$0
Little RiverBetRivers$4,769,583$4,769,583?$537,644$563,472$0$0
HannahvilleTwinSpires$3,185,744$3,185,744?$209,572$244,098$0$0
Sault Ste. MarieWynnBet$2,249,239$2,249,239?$418,529$175,108$15,141$0
Keweenaw BayGolden Nugget$789,792$789,792?$70,649$67,593$0$0
PokagonFour Winds$385,009$385,009?$51,196$115,454$0$0
Match-E-Be-Nash-She-Wish?$0???$0$0
Nottawaseppi Huron?$0???$0$0
Total$383,691,892$359,450,162$24,241,730$35,238,593$13,287,349$648,202$463,684

Tax money trickling into state; free bets for customers

March’s Michigan sports betting output raised $535,930 in state tax money, bringing the overall total to $789,866 over two-plus months. That number is expectedly low, as operators are in a customer acquisition phase. They are offering lots of free bets and other promotions that they then write off.

In addition, $326,462 was raised for the city of Detroit through sports betting as part of city wagering taxes and municipal service fees.

Through 69 days, $55.1 million of gross revenue was compiled by the 12 sportsbooks, meaning $52.1 million in free bets and promotions have been handed out to customers.

Photo by Darron Cummings/AP
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Matt Schoch

A Michigan native, Matt has worked at newspapers in Michigan, Missouri and the Virgin Islands. A versatile sports reporter, Matt has covered sailing on the Great Lakes, cricket in the Caribbean, high school and pro playoffs, and the Olympics in Rio. He's also the host of the Locked On Pistons Podcast and producer of a documentary on Emoni Bates. A former blackjack dealer, Matt has studied the industry from all sides.

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