Last updated on December 21st, 2024 at 12:49 pm
Michigan sports betting operators reported record numbers in November. This included a historic high for online gaming at $226 million. In addition, gross receipts from sports betting and online gambling reached $284.3 million for the month. This was a 35.9 percent increase year over year and an increase of 12.1 percent from October 2024.
After deducting promotional expenses, sales for the month came to $240.4 million. According to a gambling directory, this number is up 15.3% from the previous month and 51.9% from last year.
Igaming continued to be a shining star for Michigan operators in November, just like it had been the month before. With a year-on-year increase of 28.9%, gross igaming earnings topped the previous record set in October by 2.4%, reaching $220.7 million.
Michigan Sports Betting and iGaming Numbers in November
Up 28.8 percent year over year and 2.4 percent in the month leading up to October, adjusted gross earnings from igaming reached $203.3 million. Starting in November, BetMGM and MGM Grand Detroit surpassed FanDuel and MotorCity Casino to become the market leaders. As a result of the collaboration, igaming gross receipts were $59.7 million, and adjusted receipts were $53.7 million.
At $57.0 million and $51.3 million, respectively, in adjusted revenues, FanDuel and MotorCity Casino lagged slightly behind. Finally, DraftKings and the Bay Mills Indian Community were in third place, with adjusted receipts of $37.4 million and gross receipts of $41.6 million, respectively.
Regarding the sports betting sector, the total revenue for November amounted to $58.3 million. There was a 72.0% increase from last year and a 76.7% increase from October. With adjustments for inflation, the total revenue from sports betting in 2018 was $37.1 million, up 264.8% from October and well over the $294,810 earned the previous year.
According to bookie pay per head experts, online gambling in Michigan hit a new high of $650.2 million in November, setting a new handling record. The previous record, set in December last year, was $613.4 million, a 6.0% increase. Gross receipts were 8.97% statewide, and adjusted gross receipts were 5.71%. Football remained the most popular sports to bet on in the state.
FanDuel on Top in Michigan
As far as operators go, MotorCity Casino and FanDuel are still far out in front. November saw gross collections of $22.1 million, with bets totaling $245.6 million, or a hold rate of 9.0%. With $18.4 million, DraftKings and the Bay Mills Indian Community maintain a 10.07% ownership, down from $182.8 million. With $9.7 million of $93.8 million, or a hold of 10.34%, BetMGM and MGM Grand Detroit remained in third place.
Hollywood Greektown Casino and ESPN Bet also did exceptionally well, with $2.4 million in total profits on $31.3 million in handling. We held for 7.7 percent. Supporters of the Lac Vieux Desert Band of Lake Superior Chippewa Indians, who were allied with the fanatics, came after them. With a handle of $36.6 million, gross receipts came to $4.1 million, yielding an 11.20% hold.
In all, operators forked over $44.4 million in fees and taxes. This includes $1.9 million from sports betting and $42.5 million from igaming taxes. Government agencies received an additional $5.2 million from tribal operators.
Regarding the land-based sector, MGCB reported significantly higher results than last year. The strikes hit the Michigan market hard in November 2023, which is why this happened. The three commercial casinos in Detroit brought in $108.4 million, an increase of 37.0% year over year and 5.3% more than October’s total. Table games, slot machines, and retail sports betting contribute to the total.