Michigan Online Casinos Set Record With $141 Million In Revenue For October; Sports Betting Handle Tops $500 Million

Written By PlayMichigan Staff on November 17, 2022 - Last Updated on November 18, 2022

Michigan online casinos and poker sites had a record revenue month in October, bringing in nearly $141 million.

At the time it was announced, it was the second highest month ever for any US iGaming market, trailing only Pennsylvania in March of 2022. Pennsylvania and New Jersey announced their own record-breaking October numbers later in the day, pushing Michigan’s October down to fourth all time.

Michigan sportsbooks had a strong October, bringing in $504.3 million in sports betting handle.

Helped by five weekends of football in the month, it is up 31.6% from September, and 1.3% from October of 2021.

“Having five full weekends of the NFL and college football was a gift for sportsbooks in October, and the total handle shows that,” said Paul Costanzo, lead analyst at PlayMichigan. “This was the strongest month for Michigan sportsbooks since January of this year, which remains the highest month on record. Lifetime sports betting handle in Michigan will certainly eclipse $8 billion next month. Meanwhile, online casinos had a record month and by a huge margin, proving once again that they can be the main money-maker for operators and states.”

October 2022 Michigan sports betting numbers

Here are the top-line numbers for Michigan sportsbooks in October from the Michigan Gaming Control Board.

  • Handle: $504.3 million ($480.8 million online)
  • Revenue: $51.4 million ($49.2 million online)
  • Hold: 10.2% (down from 13.2% last month)
  • Month-over-month: Handle increased 31.6%
  • October sports betting taxes: $2.02 million to the state and $949,652 to local entities.
  • Top online sports betting app by handle: FanDuel Sportsbook MI with $145.4 million
  • Top online sports betting app by revenue: FanDuel Sportsbook MI with $20.9 million

October 2022 Michigan online casino revenue

Online casinos in Michigan remained a consistent money-maker in October:

  • Online casino revenue: $141 million, up 9.5% from September
  • October online casino tax payments: $26.3 million to state and $10 million to local entities
  • Top online casino app by revenueBetMGM Michigan with $52.3 million

Three takeaways from October online gambling numbers

FanDuel comes roaring back

After getting overtaken by DraftKings in September, FanDuel took back its place atop Michigan’s online sportsbooks. And it did so with authority.

The state’s all-time leader in sports betting handle brought in $145.4 million in October, good for a 30% market share.

FanDuel customers also had a rough month, which resulted in a big revenue number for the operator. Its nearly $20.9 million in online revenue was 42% of the market share this past month, and its 14.2% hold was well above the state total of 10.2%.

BetMGM online casino has record month

In a record month for the state, it’s no surprise that its top operator set a record, too. BetMGM Michigan casino brought in $52.3 million, topping its previous high from April by more than $2 million.

It was a whopping 37% market share for the Michigan’s all-time online casino leader.

BetMGM wasn’t alone, though, when it came to having its best ever month in the state. FanDuel, DraftKings, Four Winds and Eagle Casino & Sports all had record months in October. For Eagle Casino & Sports, it was the first time it had crossed $3 million in a month.

One online casino short? No problem

The record month for online casinos in Michigan came despite only 14 of the 15 licenses being filled for the first time since mid-April.

Oddly enough, April was the previous record for online casino revenue in Michigan, as $132.4 million was brought in. It included half a month of Eagle Casino & Sports, which launched on April 14.

TwinSpires online casino, which was partnered with the Hannahville Indian Community, closed in early September. It collected $490 in revenue in October, likely from settling accounts, which left Michigan with just 14 operators in the month. That, of course, didn’t matter.

Michigan October 2022 sports betting handle and revenue by operator

LicenseeOnline BrandHandleRevenueHoldTaxes
MotorCityFanDuel$151,514,228$21,585,05914.2%$1,447,723
Bay MillsDraftKings$129,353,755$9,888,1567.6%$575,722
MGM Grand DetroitBetMGM$107,327,135$10,675,3079.9%$554,481
Grand TraverseCaesars$40,085,931$2,945,7777.3%$0
GreektownBarstool$38,390,122$4,168,63310.9%$356,844
Lac Vieux DesertPointsBet$14,575,727$1,017,3307.0%$2,600
Little RiverBetRivers$7,423,161$352,9874.8%$5,732
Sault Ste. MarieWynnBet$3,772,052$350,9339.3%$25,389
Little Traverse BayFox Bet$3,036,772$68,1042.2%$2,458
Nottawaseppi HuronFireKeepers$2,355,501-$71,696-3.0%$0
Sagniaw ChippewaEagle$1,772,732$124,9077.0%$0
Match-E-Be-Nash-She-WishbetParx$1,634,092$2,5880.2%$0
HannahvilleSI$1,222,408$158,77613.0%$0
Keweenaw BayGolden Nugget$1,027,392$47,6804.6%$1,321
PokagonFour Winds$845,499$47,7585.6%$0
Total$504,336,507$51,362,29910.2%$2,972,271

Michigan October 2022 online casino revenue by operator

LicenseeBrandRevenuePromosTaxes
MGM Grand DetroitBetMGM$52,300,177$5,230,018 $13,768,022
MotorCityFanDuel$23,019,509$2,301,951 $6,059,886
Bay MillsDraftKings$22,625,071$2,262,507 $6,770,553
Little RiverBetRivers$9,150,287$915,029 $2,305,872
Keweenaw BayGolden Nugget$6,457,497$645,750 $1,627,289
Grand TraverseCaesars$5,324,956$532,496 $1,341,889
GreektownBarstool$4,604,271$460,427 $1,212,074
Sault Ste. MarieWynnBet$4,526,307$452,631 $1,140,629
PokagonFour Winds$3,100,038$456,254 $740,260
Sagniaw ChippewaEagle$3,011,881$301,188 $729,581
Little Traverse BayFox Bet$2,452,197$245,220 $617,954
Match-E-Be-Nash-She-WishbetParx$1,796,894$179,689 $452,817
Nottawaseppi HuronFireKeepers$1,533,512$153,351 $358,842
Lac Vieux DesertPointsBet$1,053,195$151,053 $198,471
HannahvilleSI$490$0$108
Total$140,956,282$14,287,563 $37,324,246
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