Mobile and Online Sports Betting in Michigan Generated a Nearly $3.7 Billion Handle in its First Year

Online casinos and poker rooms grossed a combined $1.1 Billion in 2021, according to the Michigan Gaming Control Board.
Mobile and Online Sports Betting in Michigan Generated a Nearly $3.7 Billion Handle in its First Year
January 20, 2022

Michigan’s online casino operators generated a whopping $1.1 billion in revenue during the market’s first year of operation, thanks in part to a record $121.8 million haul from December, according to data from the Michigan Gaming Control Board (MGCB).

Online and mobile sports betting also scored big, generating a nearly $3.7 billion handle and helping operators gross $292.2 million for the vertical’s first year in the Great Lakes State.

Online gaming revenue, as defined by the MGCB, includes poker as the regulator does not separate the two in its data. Since the verticals are not reported separately, it is not possible to know how much poker contributed to the final total.

In December, every operator except one — FireKeepers Casino — had a month-to-month increase in revenue. December was also the fourth consecutive month where revenue exceeded $100 million. Revenue was up 13% from November when it totaled $107.6 million.

BetMGM Casino MI remained far ahead of the pack, in terms of both monthly and yearly revenue. The top operator grossed a record $46 million in December, helping lift its yearly total to $417.1 million for 2021.

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Just as they have for the entire year, DraftKings Casino MI and FanDuel Casino MI battled it out for second place in December. Both generated about $16.8 million for the month, although DraftKings was ahead slightly. But, FanDuel had the edge in terms of full-year gross revenue with $184.7 million, compared to $184.5 million for DraftKings.

While the top three operators combined for 69% of online casino revenue in December, they accounted for slightly more — 71% — for the full year. Eleven operators comprise the rest of the market.

Caesars Online Gaming Continues to Climb

Among the state’s mid-tier operators, BetRivers Casino MI held the edge in terms of revenue for December ($7.9 million) as well as the full year ($74.6 million). Its next nearest competitor, Golden Nugget, grossed $6.1 million in December and $50.6 million for the year.

WynnBET slipped just ahead of Barstool to become the sixth-largest operator for revenue in December, although both operators grossed $4.8 million during the month. FOX Bet/PokerStars, which grossed just $985k in October, continued to climb back and hit $2.9 million in December.

In terms of annual revenue, MGCB data show WynnBET grossed $47.8 million, followed by Barstool with $41.8 million and FOX Bet/PokerStars with $40.9 million.

Caesars, which just edged out Pala in November to become the largest of the smallest online operators in Michigan, continued its surge into December, grossing $4 million for the month — ahead of FOX Bet/PokerStars. It was the sixth consecutive month of increased revenue for Caesars, which had just $173k of gross revenue in June 2021.

Pala followed Caesars with $2.5 million in revenue in December, followed by Parx and TwinSpires, which both generated $1.5 million. PointsBet and FireKeepers completed the field with $1.2 million and $1.1 million in revenue, respectively.

For the full year, Pala grossed $21.7 million in revenue in 2021, followed by TwinSpires ($16.7 million), Caesars ($12.5 million), Parx ($9.4 million), FireKeepers ($6.8 million), and PointsBet ($5.1 million).

Record Handle for Fourth Consecutive Month

Sports betting hit a record handle for the third consecutive month, reaching $484.6 million in December. It was also the third consecutive month where handle exceeded $400 million.

DraftKings Sportsbook MI accounted for the biggest share of December’s handle, but just barely — they edged FanDuel Sportsbook MI during the month, with DraftKing’s $120.3 million to FanDuel’s $119.9 million. BetMGM Sportsbook MI was third in terms of handle with $108.8 million.

For the full year, FanDuel led with a $993 million handle in 2021, followed by DraftKings ($951.1 million) and BetMGM ($828 million).

Despite the record handle, revenue plummeted to $34.8 million in December, down from a record $54.1 million the month prior. However, December was still the second-highest month in terms of revenue. FanDuel led the vertical in revenue at $9.6 million, with BetMGM and DraftKings following at $9.4 million and $7.3 million, respectively.

The state’s 14 sports betting operators collectively grossed $292.2 million in 2021. FanDuel topped its rivals by that metric, too, generating $93 million in revenue in 2021. BetMGM was second in yearly revenue with $83.2 million followed by DraftKings at $53.4 million.

If you or someone you know has a gambling problem and wants help, call the Virginia Council on Problem Gambling (VACPG) helpline at 1-888-532-3500

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