Michigan finally welcomed online sports betting and online casinos on Friday, 22 January 2021, which gave the state 10 days of legal online sportsbook operation to report for the state’s first month. Michigan powered into the challenge as the state’s residents and visitors ripped into $115.2 million of legal online sports wagers (76.2% of the handle) and helped to fill the state’s budget coffers in the process.
Of the great first figure, the Wolverine State’s bricks-and-mortar sportsbooks took in $35.7 million, underlining the state’s online sportsbooks popularity. By taking $115.2 million in wagers in just 10 days, Michigan’s online sportsbooks produced what everyone suspected – Michigan online sports wagering will be huge. It is only playing with numbers, however, if you were to extrapolate that 10-day figure, over a full month, it would equate to $357 million – that’s some serious coin!
Combined with the state’s land-based sportsbooks, the online sector helped Michigan get off to an excellent $150 million sports betting start in the Wolverine State.
Excluding free bets and other promotions, the state’s sportsbooks produced $13.3 million in gross receipts, while more than $111 000 of state tax revenue was raised.
Leading Michigan sports betting analyst, Matt Schoch remarked;
“There is no questioning the power of online sports betting at this point. January was just a snapshot, but online betting will eventually account for 90% or more of the state’s total handle, which would put it much more in line with other legal jurisdictions that offer both online and retail betting”, the industry expert said.
How Michigan’s Online Sportsbooks Fared
BetMGM and DraftKings were the two quickest online sportsbooks out of the blocks in Michigan with Barstool Sportsbook closely behind in terms of gross receipts before promotions were accounted for;
- BetMGM – $5.1 million
- DraftKings – $3.38 million
- Barstool Sportsbook – $3.33 million
- FanDuel Sportsbook – $0.62 million
- PointsBet – $0.39 million
- BetRivers – $0.19 million
- William Hill Sports Book – $0.13 million
- Fox Bet – $0.07 million
- Wynn Sports – $0.06 million
- Twin Spires – $0.04 million
- Golden Nugget – $0.03 million
How the Michigan Opening Numbers Stack Up
Michigan’s 10-day sports betting handle of $115.2 million topped other states that have made their online sports betting debuts in the last 12 months.
- In Tennessee, the Volunteer State reported $27.4 million in total handle from its opening week spanning November 1-8 2020.
- In Colorado, the Mile-High State reported $25.6 million in total sports handle for the entire month of May 2020.
The global health pandemic played a role in Colorado’s lower number, with few sports available for betting, while Tennessee’s opening week included an NFL Sunday, serving as the best possible comparison for Michigan. The NFL did not play during Michigan’s opening 10-day debut as it was the bye week before the Super Bowl, but it did comprise initial Super Bowl wagers.
With College Basketball’s March Madness set to begin shortly and the final Super Bowl numbers to be included in Michigan’s February figures, we expect Michigan sports wagering to keep producing some eye-popping results.
Online Casino Numbers also strong For Michigan
Michigan’s online casinos and online poker sites also experienced a stellar first 10 days of operation finishing the period with 29.4 million in gross receipts, more per day than any other opening month in U.S. history. Again, the online casino trend followed the sportsbook numbers with BetMGM finishing top of the pile with FanDuel and DraftKings both producing extremely strong figures.
State authorities are beaming and Richard Kalm, the Executive Director of the state’s regulatory gaming board underlined the importance of good start and the contribution to state taxes;
“Internet gaming operators are off to a good start in Michigan. The taxes and payments from online gaming will provide funding for K-12 students, the city of Detroit and Michigan tribal communities” he said.