Michigan falls just short of online betting and iGaming records in September
Michigan’s online betting and iGaming market continues to thrive, with the state posting impressive numbers in September. According to data released by the Michigan Gaming Control Board (MGCB), total online sports betting handle reached $365.5 million in September, just shy of the record-breaking $383.7 million set in August. Meanwhile, iGaming revenue totaled $87.2 million, falling short of the $94.9 million record set in August.
Despite narrowly missing out on breaking records, September’s figures demonstrate the continued growth and popularity of online betting and iGaming in Michigan. The state’s online sports betting market has seen steady growth since its launch in January 2021, with total handle surpassing $2 billion for the year.
The MGCB reported that online sports betting revenue reached $20.8 million in September, a slight decrease from the $21.7 million recorded in August. However, online casinos saw a 0.6% increase in revenue, totaling $66.4 million in September compared to $66 million in August.
The top-performing online sports betting operators in September were FanDuel Sportsbook, BetMGM, and DraftKings, while BetMGM, DraftKings, and FanDuel Casino led the way in iGaming revenue.
Despite the strong performance in September, Michigan’s online betting and iGaming market face challenges ahead. The state recently saw a decrease in revenue from the retail sports betting sector, which fell to $15.3 million in September from $19.4 million in August.
Additionally, competition in the online betting and iGaming market is increasing as more states legalize and regulate these activities. Michigan will need to continue offering attractive promotions and incentives to attract and retain customers in a highly competitive market.
Overall, Michigan’s online betting and iGaming market remains a major revenue generator for the state, providing much-needed funds for various programs and services. With strong performance in September and the potential for further growth in the future, Michigan’s online betting and iGaming sector look set to continue thriving in the months ahead.
