Count Michigan among the five states to have topped $500 million in sports betting handle in a single month.
Michigan’s online sportsbooks took in $473.8 million in November, eclipsing October’s record $463.6 million, according to the Michigan Gaming Control Board in figures released last month. With the $26.7 million from retail sportsbooks in Detroit casinos, Michigan generated $500.5 million in sports wagers during the month.
The Mitten State joins Illinois, New Jersey, Nevada, and Pennsylvania on the list of states to generate as much as half a billion in sports wagers in a single month.
Sports betting in November was boosted by the intense interest in University of Michigan football, which defeated rival Ohio State and then won the Big Ten title. It’s the Wolverines’ first conference title since 2004.
College football fans in Michigan have also witnessed excellent seasons by Michigan State, Western Michigan, Central Michigan, and Eastern Michigan, all of whom advanced to Division-I bowl games. With the Wolverines earning a place in the four-team College Football Playoff, the state saw a record five college teams advance to bowl games.
The record-setting month is impressive considering the calendar gave sports bettors only four weekends, as opposed to five in October. The NBA, college basketball, and the NHL are also in full swing now, which increased betting action from sports betting fans.
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Breakdown of Michigan Sports Betting Revenue
Gross revenue from sports betting increased 122% in November to $54.1 million. In October that figure was $24.3 million. Michigan reported $4.6 million in retail sportsbook revenue, pushing the overall state revenue from sports betting for the month to $58.8, a 118% increase over the previous month.
Revenue Leaders by Sportsbook
- DraftKings … $126.3 million
- FanDuel … $115.2 million
- BetMGM … $110.4 million
- Barstool … $49.5 million
- Caesars … $37.8 million
The battle for the top sportsbook in Michigan is heated. DraftKings had a 26.7% market share in November, while rival FanDuel came in at 24.3%. BetMGM is not far behind at 21.3% of the sports betting market in the Wolverine State.
Tax Revenue to the State of Michigan from Sports Betting
In November of 2021, the state of Michigan generated $1.6 million in taxes from online sports betting, and $926,598 from sports betting at the three Detroit casinos. In total for the year, sports betting operators in Michigan have paid $7.5 million in state taxes and $4.9 million in taxes to the City of Detroit.