Sports betting handle in Michigan totaled $4.81 billion in 2022, a growth of 21.4% from 2021.
That comes following the release of December’s revenue numbers from the Michigan Gaming Control Board.
Michigan sportsbooks tallied $494.8 million in handle for December 2022, including $478.7 million in online handle. That’s a slight decrease from November’s $498.1 million.
“While sports betting in Michigan isn’t seeing the same type of growth as online casinos, it is still proving to be a big source of revenue for operators and tax revenue for the state,” said Paul Costanzo, lead analyst for PlayMichigan. “December numbers were certainly buoyed in the state by the Detroit Lions making a push for the playoffs, and the Michigan football team playing for a Big Ten title and in the College Football Playoff.”
December 2022 Michigan sports betting revenue numbers
Here are the top-line numbers for Michigan sportsbooks in December from the Michigan Gaming Control Board.
- Handle: $494.8 million ($478.7 million online)
- Revenue: $50.5 million ($48.8 million online)
- Hold: 10.2% (up from 8.6% last month)
- Month-over-month: Handle decreased 0.7%
- December sports betting taxes: $1.9 million to the state and $865,770 to local entities.
- Top online sports betting app by handle: FanDuel Sportsbook MI with $146.1 million
- Top online sports betting app by revenue: FanDuel Sportsbook MI with $21.1 million
Michigan sports betting handle and revenue for 2022
With December’s report, we now have a full look at 2022. Here are the numbers for the year:
- Handle: $4.81 billion ($4.55 billion online)
- Revenue: $418.6 ($399.6 million online)
- Year-over-year: Handle increased 21.4%
- 2022 sports betting taxes: $14.5 million to the state and $7.6 million to local entities.
- Top online sports betting app by handle: FanDuel Sportsbook MI with $1.38 billion
- Top online sports betting app by revenue: FanDuel Sportsbook MI with $163.5 million
Three takeaways from December Michigan sports betting revenue report
Online handle drops year-over-year for first time
We’ve seen sports betting in Michigan hit a bit of plateau throughout the football season.
While we’ve seen the overall handle drop when comparing 2021 months to 2022, that was mostly due to the decline in retail sports betting.
December 2022 marked the first time we’ve seen the online handle lessen from a year prior. Last month’s $478.7 million in online handle is a 1.2% drop from the $484.6 million December 2021 recorded.
Michigan has yet to hit that elusive $500 million mark for online handle in a month. January 2022 still holds the handle record at $496.8 million.
Caesars bests Barstool in 2022
Barstool Sportsbook has had a pretty good grip on being the fourth-most-used online book in Michigan.
With FanDuel, DraftKings and BetMGM clearly the top three, Barstool was a distant fourth, but had some wiggle room ahead of Caesars Sportsbook MI.
However, a strong fourth quarter for Caesars pushed it ahead of Barstool in online handle for 2022.
Caesars finished with $341.3 million for 2022 thanks to its closing three months.
- October: $40.1 million
- November: $33.2 million
- December: $33.5 million
Barstool ended up with $339.8 million for 2022 while falling well behind Caesars over the last three months.
- October: $30.6 million
- November: $29.2 million
- December: $31.3 million
Online sportsbooks win big in football season
December was a good month for many of the online operators in Michigan.
Collectively, the state’s online books recorded a 10.2% hold. That’s well above the 8.4% average Michigan had in the 23 months prior.
It marks the fourth time in the past five months that the hold in the state has been above 10%.
In December, seven different operators recorded a hold over 11%, topped out by betParx’ 15.9% and SI Sportsbook’s 15.8%.
Michigan December 2022 sports betting handle and revenue by operator
|MGM Grand Detroit||BetMGM||$105,927,916||$12,063,778||11.4%||$634,929|
|Lac Vieux Desert||PointsBet||$14,459,813||$879,051||6.1%||$25,409|
|Sault Ste. Marie||WynnBet||$2,719,987||$410,500||15.1%||$29,787|
|Little Traverse Bay||Fox Bet||$2,362,229||$265,999||11.3%||$21,385|
|Keweenaw Bay||Golden Nugget||$1,311,470||$65,332||5.0%||$2,983|