It has been a full year since Michigan betting apps launched and the state’s marketplace isn’t looking back – as Michigan has seen a steady path of growth in terms of revenue over 2021. With the excitement of 2022 goals on the horizon, GreatLakesStakes.com has provided the following information as key takeaways:
- Michigan Sports Betting Total Handle in December: $514.7 M (Up 2.86% from November)
- The total online sports betting handle in Michigan rose by 60% from the February launch
- Michigan Sports Betting Handle in 2021: $3.5 B
- Michigan Sports Betting Revenue in 2021: $13 M in state and local taxes
- Michigan eclipsed the $500M mark in handle twice in 2021: November & December
- Motor City Casino (partnered with FanDuel Sportsbook) generated most revenue of all casinos – $993 M
- In 2022, an item on the horizon is a multi-state poker agreement – allowing residents to play online against people residing other states
Below are a few statements from former Michigan Rep. Brandt Iden (R-61st district), who helped craft the Lawful Sports Betting Act & Lawful Internet Gaming Act of 2019:
“The opening year of sports betting has absolutely been fantastic. What I love most is that, when we were originally passing the legislation, various entities projected that by the end of the first year — between sports betting and iCasino — that the total handle would be somewhere around $50 million.”
“The biggest surprise for me has been the immense popularity and seeing both mobile and retail sports betting operators come together, whether it’s through the tribal properties, whether it’s through the commercial properties. And it’s one (a model) that I think that other states have replicated. We’ve seen Arizona replicate this. We’ve seen Connecticut replicate this. And it’s become a success story, I think, across the country.”
See full GreatLakesStakes.com analysis here: https://www.greatlakesstakes.com/news/michigan-online-sportsbook-apps-marketplace-looks-set-for-bright-2022
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