FanDuel Holds Onto Top Spot in Michigan’s Sports Betting Market
FanDuel emerged as the most popular online sportsbook in Michigan for the third consecutive month in December.
New figures from the Michigan Gaming Control Board show that MI sportsbooks handled $494.7 million in wagers last month.
FanDuel accounted for $146.1 million of that handle, giving it a 29.5% market share in the Great Lakes State. That is lower than its average market share of 40% on a nationwide basis, but it shows that FanDuel is gradually pulling away from the chasing pack.
DraftKings was left in second place, with a handle of $127.1 million, followed by BetMGM with $99.5 million.
Sportsbooks in Michigan reported gross revenue of $50.4 million in December, up from $42.7 million the previous month.
FanDuel dominated in this regard, with $21.1 million in gross revenue, ahead of BetMGM ($11.3 million) and DraftKings ($8.8 million).
The state earned $1.95 million in tax revenue from the legal sports betting industry in December.
A late playoff push from the Detroit Lions helped drive interest, while the Michigan college football team was also competing for the Big Ten title.
Online casino gaming revenue also increased to a record $152.8 million last month, which was a 5% increase on November’s tally.
Michigan operators reported a combined $1.98 billion in total online casino gaming and sports betting revenue in 2022.
Online casino sites accounted for $1.58 billion of that total, while sports betting produced $400 million in gross gaming receipts.