april showers

Michigan’s April Online Sportsbook Handle Takes $80 Million Tumble

April showers bring … the lowest online sports betting handle in Michigan since last September, according to numbers released by the Michigan Gaming Control Board.

For the month, Michigan’s 15 mobile sportsbooks handled $371.2 million, which was $80 million less than March’s $451.6 million total and the lowest since September’s $354.2 million haul.

Bright side? Year over year, April’s $371.2 million handle was a 42% increase from last April’s $249.8 million handle. And more bright side, at least for the operators: Gross sports betting receipts totaled $30.7 million for a very healthy hold of 8.2%. Adjusted sports betting receipts — which allow promotional play to be deducted — were still a robust $16.7 million.

On the tax front, $944,005 was paid to the state and another $594,948 was paid to the city of Detroit.

Breaking it down

For the month, FanDuel continued its recent dominance of the top o’ the charts with $118.4 million in. handle. BetMGM also held on to second place for the second consecutive month with an $89.4 million figure. DraftKings, at $78.1 million, finished third for the second month in a row after finishing either first or second every other month since launch.

Fourth and fifth place flip-flopped again, as Barstool — one of the few sportsbooks to do better in handle in April compared to March — came in at $31.2 million, topping Caesars’ $26.6 million. In sixth place was PointsBet at $10.2 million, followed by BetRivers at $6.5 million and FOX Bet at $2.6 million.

WynnBET was next at $2.4 million, and FireKeepers followed at $1.4 million. Rounding out the rest were TwinSpires at $1.2 million, Golden Nugget at $1.1 million, Parx at $944,244, Four Winds at $493,334, and the debuting Soaring Eagle at $287,273.

Photo: Shutterstock

The post Michigan’s April Online Sportsbook Handle Takes $80 Million Tumble appeared first on MIBets.

Author: Bradley King