Michigan sports betting in August nearly matched the handle it had from August of 2022.
Sports betting in the state generated $228.5 million in handle in August, just 0.6% less than its $229.8 million of a year ago.
While online sports betting continues to be less in 2023 than in 2022, the online revenue for the year is still outpacing 2022 through eight months.
With $218.5 million in online wagers, Michigan online sportsbooks drew $23.2 million in revenue in August. That puts the online sportsbooks at $236.3 million in revenue for 2023, 11% higher than it was through eight months of 2022 ($212.9 million).
August 2023 Michigan sports betting revenue numbers
Here are the top-line numbers for Michigan sports betting in August from the Michigan Gaming Control Board.
- Handle: $228.5 million ($218.5 million online)
- Revenue: $23.5 million ($23.2 million online)
- Hold: 10.3% (down from 11.0% last month)
- Month-over-month: Handle increased 9.4%
- August sports betting taxes: $1.1 million to the state and $383,481 to local entities.
- Top online sports betting app by handle: FanDuel Sportsbook MI with $76.1 million
- Top online sports betting app by revenue: FanDuel Sportsbook MI with $9.4 million
Three takeaways from August Michigan sports betting revenue report
Online betting shows smallest dip of 2023
We’ve seen that sports betting in Michigan has plateaued with overall handle and online handle being less in each month of 2023 than its counterpart in 2022.
However, August shows a little promise for the sports betting industry in the state. The difference in online handle from August 2022 ($218.8 million) to August of 2023 ($218.5 million) was the smallest margin yet this year.
With the start of college football and preseason NFL taking place in August, as well as the Women’s World Cup, it appears that Michigan sports bettors showed an increased interest in the events.
Will that trend continue over the final four months, the most active sports betting time of the year?
In 2022, the final four months saw $1.8 billion in online handle. That accounted for nearly 40% of the year’s total ($4.55 billion).
If 2023 can show similar results, it would be a sign that even though the industry may have plateaued, its foundation remains strong.
Michigan back to 14 online sportsbooks
August marked the first month that Michigan has been down to just 14 online sportsbooks since March of 2022.
On July 31, Flutter announced it was shutting down Fox Bet Sportsbook across the country. That included in Michigan, as it was the online sportsbook for Odawa Casinos.
While Fox Bet wasn’t bringing in strong handle or revenue, it still added to a greater total. For August, Fox Bet actually had to reimburse wages, so it had a negative handle while also losing nearly $100,000 in revenue on its way out the door.
Flutter, which operates PokerStars Casino MI and also owns FanDuel Sportsbook MI and FanDuel Casino MI, has yet to announce any plans for replacing Fox Bet with the license it has for Odawa Casinos.
Michigan bettors not improving
For the fifth time in sixth months, Michigan’s sportsbooks recorded a double-digit hold.
In August, the hold for the books stood at 10.3%.
Nine of the 14 operators had a hold of 9.5% or greater.
FanDuel continues to post strong holds, led by its heavily promoted Same-Game Parlay format — which is a consistent feature of any of the app’s Michigan sportsbook promos.
In August, FanDuel collected a 12.0% hold. For the year, it has a 13.1% hold. That’s impressive considering the FanDuel retail sportsbook has lost nearly $1 million on the year.
FanDuel’s online sportsbook in the state has a 13.7% hold in 2023.
Michigan sports betting August 2023 revenue by operator
| Licensee | Online Brand | Handle | Revenue | Hold | Taxes |
|---|---|---|---|---|---|
| MotorCity | FanDuel | $78,947,823 | $9,586,396 | 12.1% | $700,497 |
| Bay Mills | DraftKings | $57,796,186 | $5,583,983 | 9.7% | $302,842 |
| MGM Grand Detroit | BetMGM | $38,894,892 | $3,752,787 | 9.6% | $197,360 |
| Grand Traverse Band of Ottawa and Chippewa | Caesars | $16,501,030 | $1,945,378 | 11.8% | $136,901 |
| Greektown | Barstool | $16,281,311 | $941,117 | 5.8% | $72,696 |
| Little River Band of Ottawa | BetRivers | $7,067,843 | $668,176 | 9.5% | $14,166 |
| Lac Vieux Desert Band of Lake Superior Chippewa | PointsBet | $5,525,202 | $567,462 | 10.3% | $29,260 |
| Sault Ste. Marie Tribe of Chippewa | WynnBet | $2,802,806 | $156,572 | 5.6% | $12,908 |
| Sagniaw Chippewa | Eagle | $1,069,486 | $159,260 | 14.9% | $6,195 |
| Match-E-Be-Nash-She-Wish Band of Pottawatomi | betParx | $1,056,487 | $52,723 | 5.0% | $0 |
| Keweenaw Bay | Golden Nugget | $905,291 | $579 | 0.1% | $0 |
| Pokagon Band of Potawatomi | Four Winds | $608,441 | $60,382 | 9.9% | $0 |
| Nottawaseppi Huron Band of Potawatomi | FireKeepers | $568,593 | $31,201 | 5.5% | $0 |
| Hannahville | SI | $471,791 | $71,982 | 15.3% | $0 |
| Little Traverse Bay Bands of Odawa | Fox Bet | -$1,419 | -$97,578 | N/A | $0 |
| Total | $228,495,763 | $23,480,419 | 10.3% | $1,472,826 |
