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A national championship run by the Michigan Wolverines impacted Michigan sports betting handle only slightly in March.
The Michigan Gaming Control Board reported that operators produced $494.1 million in handle and $50.1 million in revenue. Handle increased at 26.1% month-over-month, which was expected.
However, the year-over-year results were on the flatter side for Michigan sportsbooks.
Only a slight rise
Michigan and Michigan State each made deep runs in the March Madness betting season, with the Wolverines hoisting the national championship trophy earlier this month.
However, that did not amount to much of a handle increase this March. Operators reported only a 1.4% year-over-year increase in total bets, despite having a national championship team in the state.
Despite Michigan playing the Final Four and national championship game in April, the majority of their run came in March.
March sports wagering by the numbers
- Handle: $494.1 million ($485.1 million online)
- Revenue: $50.1 million ($49.3 million online)
- Hold: 10.3%
- Month-over-month: Total handle increased 26.1%
- Sports betting taxes: $3 million to state and local coffers
- Top online sports betting app by handle: FanDuel Sportsbook with $166 million
- Top online sports betting app by revenue: FanDuel with $20.2 million
Assessing the market
FanDuel Sportsbook comfortably led Michigan in March with $20.2 million in gross revenue, driven by a market-leading 12.2% hold. That combination of high volume and strong win rate created significant separation at the top of the market.
DraftKings Sportsbook followed with $13.1 million in revenue, though their 9.7% hold came in below the statewide average of 10.3%.
BetMGM Sportsbook rounded out the top three with $6.9 million in revenue and an 11.3% hold, reinforcing their consistent positioning among the state’s top-tier operators.
Beyond the top three, Fanatics Sportsbook posted $4.1 million but with a lower 7.8% hold, while Greektown’s theScore Bet hit an even 10% hold on $2.2 million in revenue.
Michigan’s sports wagering market is competitive beyond FanDuel and DraftKings. The second-tier operators are all battling for market share.
March MI online sports betting revenue by operator
| Licensee | Online Brand | Handle | Revenue | Hold | Taxes | |
|---|---|---|---|---|---|---|
| MotorCity | FanDuel | $166,018,102 | $20,209,480 | 12.20% | $1,340,449 | |
| Bay Mills | DraftKings | $135,773,742 | $13,109,257 | 9.70% | $758,462 | |
| MGM Grand Detroit | BetMGM | $60,643,933 | $6,871,822 | 11.30% | $320,945 | |
| Lac Vieux Desert Band of Lake Superior Chippewa | Fanatics | $52,535,259 | $4,091,065 | 7.80% | $213,337 | |
| Grand Traverse Band of Ottawa and Chippewa | Caesars | $25,019,391 | $1,856,117 | 7.40% | $125,030 | |
| Greektown | theScore Bet | $21,986,050 | $2,200,642 | 10.00% | $158,904 | |
| Hannahville | Hard Rock Bet | $18,126,462 | $1,331,899 | 7.30% | $54,086 | |
| Little River Band of Ottawa | BetRivers | $8,046,991 | $902,972 | 11.20% | $51,307 | |
| Nottawaseppi Huron Band of Potawatomi | FireKeepers | $2,274,164 | $10,267 | 0.50% | $0 | |
| Match-E-Be-Nash-She-Wish Band of Pottawatomi | betParx | $1,487,694 | $136,519 | 9.20% | $9,966 | |
| Sagniaw Chippewa | Eagle | $1,471,684 | $76,578 | 5.20% | $4,142 | |
| Pokagon Band of Potawatomi | Four Winds | $702,927 | $50,458 | 7.20% | $3,528 | |
| Total | $494,086,400 | $50,847,075 | 10.30% | $3,040,156 |
