June Revenue Numbers Show Expected Summer Slowdown For Michigan Sportsbooks, Online Casinos

Written By PlayMichigan Staff on July 19, 2022

In not so surprising news, Michigan sportsbooks saw a new low for the year in June 2022, reporting a total handle of $292.4 million. While an 18% decrease from May, it’s still a 12.7% increase from June of 2021.

Michigan online casinos and poker continued their summer slide, but remain strong year-to-year. Internet gaming generated $121.5 million in revenue, falling 4.6% from the $127.4 million generated in May.

“The month-to-month decrease isn’t surprising, as people are certainly spending more time enjoying the Michigan outdoors now that summer has arrived,” PlayMichigan lead analyst Paul Costanzo said. “There is still significant growth from 2021, however, which is a better indicator of the strength of the industry.”

June 2022 Michigan sports betting numbers

Here are the top-line numbers from the Michigan Gaming Control Board.

  • Handle: $292.4 million ($270 million online)
  • Revenue: $15.8 million ($15.4 million online)
  • Hold: 5.4% (down from 10.1% last month)
  • Promotional credits: $10.8 million
  • Month-over-month: Handle decreased 18%
  • May sports betting taxes: $367,487 to the state and $223,067 to local entities.
  • Top online sports betting app by handle: FanDuel Sportsbook MI with $81.7 million
  • Top online sports betting app by revenue: FanDuel with $6.2 million

June 2022 Michigan online casino revenue

Online casinos in Michigan continued to bring in big numbers in June:

  • Online casino revenue: $121.5 million down 4.6% from May
  • June online casino tax payments: $22.5 million to state and $9.5 million to local entities
  • Top online casino app by revenue: BetMGM Michigan with $47.2 million

Top takeaways from June 2022 Michigan online gambling numbers

Michigan holding ground with other states

Seeing a drop of 18% over a month may seem alarming, but it’s been a common trend across the country.

Sports betting as a whole has hit the summer slump with NBA and NHL playoffs concluding. Football is still weeks away.

Just by comparison, here are some other states and how far they fell from May to June:

  • Pennsylvania: 20%
  • Oregon: 19
  • New York: 17%
  • Indiana: 17%
  • Iowa: 17%

The $270 million is the lowest online handle in Michigan since August of last year, right on the cusp of NFL season.

iGaming continues to trend upward

While the monthly numbers for online casinos may have dropped, June’s revenue total still shows the overall growth of the industry.

June was the second-lowest revenue total for 2022, yet it still tops 11 of the 12 months in 2021. Only December of 2021 was better at $121.8 million, and even then, just barely.

June 2021 was actually the third-lowest iGaming revenue month all-time in Michigan at just $89.2 million. That’s still 36% growth from year-to-year.

MI sports bettors improve in June

After Michigan retail and online sports betting operators had a 10.1% hold in May, in-state bettors bounced back in June. Michigan posted an impressive 5.4% hold for the month of June.

It was Michigan’s best showing since 5.1% in February of this year. It also marked just the fourth time in the state’s history it has had a hold below 6%.

Since sports betting was legalized, Michigan has an all-time hold just under 8%. It’s performance this month had three different operators lose money (Caesars Sportsbook, FireKeepers, PlayEagle)

While bettors can’t complain about the number, it does lead to a lower tax revenue month for the state. Michigan brought in just $367,487 in state taxes for the month.

Expect more dips ahead

Don’t be surprised to see more drops in sports betting handle to come in the following months.

July of 2021 ($206.3 million) and August of 2021 ($208.6 million) were Michigan’s lowest full months for sports betting handle since online sports betting launched late in January of 2021.

They were followed by five consecutive months of new records for handle. Clearly football season is king. It will be interesting to see just how much growth Michigan sports betting has during the 2022 football season compared to 2021.

Michigan June 2022 sports betting handle and revenue by operator

LicenseeOnline BrandHandleRevenueHoldTaxes
Bay MillsDraftKings$71,706,792$1,711,5192.4%$0
MGM Grand DetroitBetMGM$68,098,744$4,921,4927.2%$105,676
Grand TraverseCaesars$18,253,799-$289,432-1.6%$0
Lac Vieux DesertPointsBet$6,962,651$653,2789.4%$0
Little RiverBetRivers$4,174,521$275,5886.6%$0
Little Traverse BayFox Bet$1,769,309$122,7256.9%$7,564
Sault Ste. MarieWynnBet$1,218,809$119,6469.8%$7,396
Saginaw ChippewaEagle$980,506-$666-0.1%$0
Nottawaseppi HuronFireKeepers$924,580-$6,960-0.8%$0
Match-E-Be-Nash-She-WishPlay Gun Lake$765,909$104,07713.6%$0
Keweenaw BayGolden Nugget$679,165$33,4624.9%$0
PokagonFour Winds$530,216$20,0133.8%$0

Michigan June 2022 online casino revenue by operator

LicenseeOnline BrandRevenuePromosTaxes
MGM Grand DetroitBetMGM$47,242,774$4,724,277$12,436,660
Bay MillsDraftKings$17,853,313$1,785,331$4,499,035
Little River Band of OttawaBetRivers$7,590,862$759,086$1,912,897
Grand Traverse Band of Ottawa and ChippewaCaesars$5,880,483$588,048$1,481,882
Sault Ste. Marie Tribe of ChippewaWynnBet$4,668,422$466,842$1,176,442
Keweenaw BayGolden Nugget$4,354,345$435,435$1,097,295
Pokagon Band of PotawatomiFour Winds$2,807,897$280,790$707,590
Little Traverse Bay Bands of OdawaPokerStars$2,368,365$236,837$596,828
Sagniaw ChippewaEagle$2,056,520$170,512$377,202
Match-E-Be-Nash-She-Wish Band of PottawatomiPlay Gun Lake$1,694,226$169,423$389,999
Nottawaseppi Huron Band of PotawatomiFireKeepers$1,327,846$132,785$262,913
Lac Vieux Desert Band of Lake Superior ChippewaPointsBet$414,351$52,345$72,401
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