Michigan Online Sports Betting Handle sets new record
The final Michigan sports betting numbers have been released for October, and it is a new record, with a total figure of $533 million in online betting handle. The two big names, FanDuel and DraftKings, posted record numbers in sports betting handle throughout the month. It is much needed for the state, as retail sports betting has dropped significantly, possibly down to a strike at three Detroit retail casinos.
Michigan Sports Betting Handle Reaches $533 Million in October
October proved to be a huge month for Michigan sports betting, with online sportsbooks posting a total handle of $533 million. That was a big increase of 15.2% from the previous month, which saw wagering totals reach $457.6 million.
The October numbers have now set a new benchmark, narrowly beating the previous record Michigan sports betting handle, which stood at $532.6 million posted in January 2022.
FanDuel leads the way in Michigan
The highest ranked sports betting app for Michigan players in October was FanDuel, which recorded a handle of $173.4 million. Additionally, the online FanDuel site added $20.5 million in revenue, which was the most throughout the month.
DraftKings also surpassed its previous record in Michigan. The Daily Fantasy Sports giant saw a 7% increase month to month, with an October record handle of $147.4 million and also posted revenues of $16.3 million. Third on the handle scoreboard was BetMGM Sportsbook, reaching a total handle of $80.1 million and $6.9 million in revenue. It is unsurprising to see these three brands as the top 3, and combined they contributed to 45% of the month’s total revenue.
Another big name in the betting world, Caesars, saw a month to month jump of 25% with the mobile app produced by Caesars Entertainment taking in $42 million in bets.
October also saw Barstool sportsbook bow out of Michigan. The betting app left the Wolverine State with a $20.5 million handle. The operator has since gone through a re-brand and relaunched as ESPN bet in Michigan and several other states.
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