Michigan Sportsbooks See Year-Over-Year Increases But Monthly Dips in July

The summer slowdown has hit Michigan. Despite seeing increases from last year, the Great Lake State has accepted its lowest numbers of 2024.

James Bisson

Last Updated: August 22, 2024 6:26 AM EDT • 3 minute read

Detroit Lions head coach Dan Campbell watches a replay as we look at the Michigan sports betting financials for July 2024. — Detroit Lions head coach Dan Campbell watches a replay against the Kansas City Chiefs. Photo by: Denny Medley/USA TODAY Sports.

Michigan can be added to the list of U.S. sports betting jurisdictions where our best sports betting sites are experiencing a major summer slowdown.

But despite month-over-month drops in both sports betting handle and revenues, the Michigan Gaming Control Board July report did reveal some good news in the form of year-over-year spikes for state operators.

July was the fourth consecutive month of double-digit holds for the Michigan sports betting market. An 11.8% hold for mobile operators certainly helped sportsbooks’ bottom line.

FanDuel Michigan was the top-performing Michigan sports betting site in July. It eclipsed a $1 billion year-to-date handle in the Wolverine State and has generated $124.7 million in revenue this year.

July handle

Michigan sports betting apps and retail providers accepted $256.8 million in wagers in July. Michigan sports betting sites made up $250.2 million, with retail accounting for the rest.

It represents a 10% month-over-month decline from $285.2 million in June but a 23% year-over-year improvement from $208.8 million last July—the worst handle month for Michigan sportsbooks last year.

So far this year, Michigan sports betting sites have accepted $2.73 billion in wagers.

The good news is that September and the start of the NFL season is just around the corner, and handle figures will see a dramatic increase. Residents will have plenty of Michigan sportsbook promos to choose from.

Gross gaming revenue

Michigan’s sports betting apps reported $29.4 million in revenue for July, but a -5.76 hold for retail resulted in a $380K loss for the brick-and-mortar sector, putting overall profits at $29 million.

That number is an 8.7% month-over-month revenue decline from $31.8 million in June, but gross gaming revenues did climb 26.3% from nearly $23 million last July.

The 11.8% hold rate for Michigan sports betting sites helped the state's overall hold rate, with retail added in, reach 11.31%.

From the $16.8 million in adjusted revenues, Michigan’s best sportsbooks contributed $1.1 million in taxes to state and local coffers, $13K more than last year. The City of Detroit also gained $322,900 in tax revenue.

FanDuel rules and hits milestones

FanDuel Michigan was the top-performing Michigan sports betting app in July. It accepted $93.41 million in July wagers and reported $12.15 million in revenues on a 13% hold.

FanDuel eclipsed $1 billion in year-to-date handle in Michigan and $100 million in Great Lakes State market revenues.

DraftKings Michigan finished second with $69.73 million in bets in July and $7.98 million in revenues from an 11.45% win rate. BetMGM Michigan rounded out the top three with $33.6 million in bets and $4.06 million in revenues.

Caesars Sportsbook Michigan was fourth with $15.18 million in July bets and $974,500 in profits. Fanatics Sportsbook Michigan next thanks to a $13.57 million handle and $1.93 million in revenue from a lofty 14.2% hold.

ESPN BET followed with $13.24 million in wagers and $1.52 million in revenues, while BetRivers Michigan posted $366,400 in winnings off of $7.8 million in bets.

SI Sportsbook, Four Winds Casino, FireKeepers, and betPARX all failed to reach a $1 million monthly handle.

Written by:
James Bisson

James Bisson is the Editor-in-Chief of Sportsbook Review. He has been a writer, reporter and editor for more than 20 years, including a nine-year stint with The Canadian Press and more than five years at theScore. He has covered dozens of marquee events including the 2010 Winter Olympics, the 2006 Stanley Cup final and Wrestlemania 23, and his work has appeared in more than 200 publications, including the Los Angeles Times, the Guardian, Yahoo! Sports, the Toronto Star and The Globe and Mail. His book, “100 Greatest Canadian Sports Moments”, was a hardcover best-seller in Canada in 2008 and earned him appearances on CBC Radio and Canada AM. He has written more than 50 sportsbook reviews, more than 200 industry news articles and dozens of other sportsbook-related content articles. A graduate of the broadcast journalism program at Ryerson University (now Toronto Metropolitan University), James has been an avid bettor since the early 2000s, and cites bet365 as his favorite sports betting site due to its superior functionality and quick payouts. His favorite piece of sports betting advice: "Stay in your lane. You're much more likely to have success betting sports you know, and focusing on finding angles and edges there."