The return of the NFL and college football helped Michigan’s online sportsbooks rake in more than $350m in wagering in September, as well as hit a new record in combined retail and online betting volume. The state also achieved its first month of $100m in online casino revenue according to PlayMichigan, which tracks gaming developments in the state.
Eric Ramsey, an analyst for the PlayUSA.com Network, which includes PlayMichigan.com, commented: “The potency of a full football schedule and access to online betting is unmatched. September will raise expectations for the industry, and the bar was already pretty high. The next three months have the potential to bring even more records.”
Michigan’s online sportsbooks received $354.3m in September bets, up 84.2% from $192.3m in August, according to official data released by the Michigan Gaming Control Board.
September’s handle fell short of March’s online record of $359.5m. However, combined with $32.5m in retail wagering at Detroit-area casinos announced earlier this month, the state’s online and retail sportsbooks accounted for a record $386.8m in wagering.
Gross gaming revenue from online betting rose 49% to $23.7m (August: $15.9m). Combined with $3.5m in retail revenue, sportsbooks won a total of $27.1m for the month, up 54.7% (August: $17.5m). Gross income from online betting produced $17.4m in taxable revenue, yielding $690,271 in state and local taxes.
Football’s popularity, and strong starts in the NCAA by both Michigan and Michigan State, helped the market reach a new high. The two teams will play against one another later this month, presenting an opportunity for sportsbooks to attract new customers.
Matt Schoch, an analyst for PlayMichigan.com, stated: “The Michigan-Michigan State game will likely help make September’s records short-lived, even as the Detroit Lions’ struggles continue. The state’s sportsbooks are in a healthy position. And with basketball opening, the industry will continue to grow and mature for the rest of the year.”
DraftKings led the way in the online market for the second consecutive month with $106.9m in wagers, yielding $3m in gross gaming revenue. FanDuel was second with $82.1m in wagers, producing $7.2m in gross sports betting revenue. BetMGM hit an $81.8m handle and topped the market with $8.8m in revenue.
Schoch added: “DraftKings, FanDuel, BetMGM, and other operators have been extremely aggressive in using football to push for new customers. September’s growth shows that those promotional efforts are paying off, and that will help expand the market even after the football season ends.”
Michigan’s online casinos and poker rooms set another record, with $102.4m in gross gaming revenue in September, beating the previous record of $97.2m set in August, as revenue rose to $3.4m per day over the month (August: $3.1m per day). September’s revenue produced $18.9m in state taxes and $5.2m in local taxes.
The Wolverine State joined New Jersey and Pennsylvania as the only three states to ever produce $100m in revenue for a month, thanks to the expansion of gaming options, including live dealer online casino games.
Ramsey said: “Live dealer games have pushed online casino gaming to a new level. The state’s industry will almost certainly reach $1bn in revenue in its first year of existence, which is a remarkable milestone for such a young market.”
BetMGM/MGM Grand Detroit led the online casino and poker market with $40.6m in gross gaming revenue, which yielded $7.2m in state taxes.