Watch out Nevada, New Jersey, and Pennsylvania — Michigan is quickly becoming one of the premier online sports betting markets in the country.
Retail sports betting in the state launched in March 2020, and online betting has exceeded expectations since it went live in January 2021.
“It is difficult to imagine how an online debut could have gone any better,” PlayMichigan.com analyst Matt Schoch told SBC Americas. “It took less than 40 days to transform Michigan into one of the largest U.S. gaming markets.”
Michigan’s online sportsbooks recorded a sports betting handle of more than $300 million in February, the first full month of operation. The total lifetime online handle for Michigan stands at $417 million, bringing in $45 million in revenue and $2.2 million in tax dollars for the state.
Michigan currently has 12 online sportsbooks in operation. BetMGM alone has seen $19.4 million in revenue from a handle of $174 million.
FanDuel partner MotorCity Casino isn’t far behind. The operator has the state’s largest total handle at $192.6 million and has brought in $8 million in revenue.
“Michigan has long had the potential to be a top-five market, but its rapid ascent shows just how much pent-up demand was unleashed,” said Jessica Welman of PlayMichigan.com.