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Find out how the Michigan legal sports betting scene fared during the month of June.
Fans enjoy the atmosphere outside Comerica Park during Opening Day. Photo by Gregory Shamus/Getty Images via AFP.

Michigan sports betting apps and the state’s retail providers had a bad month in June, similar to most participating U.S. legal sports betting states.

Michigan's sports betting handle was down month-over-month and year-over-year, revenues showed sharp declines from May, and the hold rate for the state's providers was far from flattering.

The unwelcome news is that July and August could be worse for the Michigan legal sports betting scene before betting action ramps up once again in September when the NFL starts to provide rocket fuel for its best sports betting apps and brick-and-mortar wagering facilities.

June sports betting handle lowest since August 2022

Michigan sports betting providers took in about $236 million in bets during June, a month void of NFL, NBA, college sports, and NHL betting. It is the lowest total for Great Lake State providers since August 2022 when $229.8 million in bets was reported by the Michigan Gaming Control Board.

June's numbers represent a 22.7% decline in month-over-month sports betting handle from the $288.3 million in May. In May, Michigan's best sports betting sites, along with its retail wagering sector, took in $305.2 million. Year-over-year, Michigan's sports betting handle is down 19.3% from the  $292.4 million reported in June 2022.

Michigan's best sports betting sites made up $227.9 million of the overall $236 million June handle. About $8.1 million in bets came from the state's retail providers. Mobile sports betting is down 16% from $270 million in June 2022.

Revenues fall thanks to underwhelming hold

Even more eye-opening than the month-over-month drop in Michigan's sportsbook June handle is the revenues for the state's providers. Just $8.8 million in net profits after adjustment was reported for sportsbooks in Michigan in June.

Gross gaming revenues came in at $18.3 million in June thanks to an unflattering 7.6% hold. That number is less than half the $36.1 million in gross gaming revenues reported by Michigan sportsbooks in May when it was able to hold 11.8% - a whopping 61.5% drop.

Year-over-year, revenues are up 13.7% from the $15.4 million in profits from June 2022.

Meanwhile, $557,464 in taxes was collected for the state and $304,031 went to local entities from June's sports betting profits. That number is also less than half the $2.1 million in combined taxes paid by Michigan sportsbooks in May.

FanDuel tops again

In the battle for the best sportsbooks, it was FanDuel that prevailed once again. It was responsible for $76 million of the overall $236 million handle. FanDuel also led the way with $9.48 million in revenue.

DraftKings was next with just under $65.4 million in bets and $2.1 million in revenues (DraftKings had a miserable 3.2% hold, which contributed to poor profits).

BetMGM was third with $44.6 million in June bets and $2.96 million in revenues, while Caesars was fourth with $17.75 million in bets and $896,371 in revenues and Barstool rounded out the top five with a $13.77 June handle and $1.01 million in revenues.

Year-to-date shows mixed results

Sports betting declines from the same period last year have become an unwelcome theme in Michigan in 2023. The launch of Ohio's legal sports betting scene has apparently adversely affected the sports betting scene in Michigan since January 1.

Overall wagering activity has dropped a total of 11% through the first six months of 2023 when compared to the same period in 2022. Around $2.07 billion has been bet with Michigan sports betting apps in 2023, compared to $2.32 billion over the same period last year.

Every month in Michigan in 2023 has shown year-over-year sports betting declines from 2022.

Despite the drop in overall handle through the first six months of 2023, revenues are up for the same period, thanks in part to a higher overall hold rate for Michigan sports betting providers. Around $190.7 million in sportsbook revenues through six months is 14% higher than $167.3 million for the same period last year.