Michigan Fifth State to Generate $500m+ in Online Sports Bets
Michigan becomes Fifth State to Generate $500m+ in Retail and Online Sports Bets
Coming off of an impressive October, Michigan broke all types of betting records in the month of November. They became only the fifth state to generate over $500 million between retail and online sports bets in any given month.
Michigan handled $473.8 million in online wagers to go along with $26.7 million in retail bets. Overall, their sportsbooks handled $500.5 million in bets in November, which is up slightly over the $497.6 million handled in October.
The available sports betting options played a massive role in Michigan’s November success. Although there was one fewer week of NFL betting, November featured an entire month of NBA betting along with the start of the college basketball season. Furthermore, one of the most important games to the market took place - Michigan vs Ohio State. Michigan’s success down the stretch, along with the intense rivalry with Ohio State, helped the sportsbooks jump over $500 million in the month.
Michigan doesn’t anticipate this success to disappear with the college football season ending, though. There are still plenty of sports going on, and the betting market is only continuing to grow. Michigan’s online poker rooms and casinos have found tremendous success in 2021 as well. They generated $3.59 million per day throughout November, which was slightly higher than the $3.54 million generated in October. Throughout the entire year, they’ve generated $992.2 million, sitting slightly shy of $1 billion. The only other two states to reach that milestone are Pennsylvania and New Jersey. If Michigan records over $1 billion in 2021, it’ll be the first state to ever do that in its first year.
DraftKings and FanDuel have been the highest-grossing sportsbooks for Michigan thus far. They’ve continued to split the top slot throughout the year with DraftKings sitting at the top for November with $126.3 million in bets. FanDuel recorded $115.2 million in wagers last month. BetMGM has also found success. They handled slightly over $100 million last month, leaving them in third for November.