Michigan’s sportsbooks take $497.6m in bets in October

Players in Michigan bet nearly $500m in October, a 28.6 per cent increase from September and a new record for the state.

US.- Michigan has reported a new sports betting handle record for October after generating seeing $500m in wagers through online and retail sportsbooks. The Michigan Gaming Control Board (MGCB) had already reported that the state’s three non-tribal casinos reported $114.1m in revenue for October.

The record handle marked a rise of 30.8 per cent from $354.3m in September. The previous record was set in March 2021 ($359.5m).

FanDuel led the online market with $124m in wagers (up from $82.1m in September). Those bets yielded $10.3m in gross sports betting revenue, up from $7.2m in September. DraftKings came second with $120.4m in wagers (up from $106.9m in September), producing $2.9m in gross gaming revenue.

BetMGM completed the podium with a $102.2m handle (up from $81.8m in September). Those bets led to $7.5m in gross gaming revenue, down from $8.8m in September.

Matt Schoch, lead analyst for PlayMichigan.com, said: “Michigan-Michigan State, five full weekends of the NFL and college football, the opening of the NBA season, and baseball’s postseason all coalesced in October to create an unusually robust sports calendar. 

“Michigan bettors are increasingly comfortable with online sports betting. And with a game like Michigan-Michigan State that carries intense local interest, sportsbooks were presented a rare opportunity to expand their customer bases. The events of this month will continue to pay dividends even after the schedule slows.”

See also: Michigan online gaming and sports betting reach $126m in revenue in September