Michigan set a new monthly revenue record following a strong January win rate.
The Michigan Gaming Control Board announced that commercial and tribal online and retail operators generated $85.6 million in gross revenue in January, the most since mobile wagering began in 2021 and a 76% year-over-year increase.
This haul surpassed the previous record set in December 2023 by nearly $20 million.
Monthly profits also jumped a massive 317% from December 2024, thanks to a 14.9% January hold, the highest since online sportsbooks launched.
The latest win rate comes a month after operators only received 3.3% back, the second-lowest ever in Michigan.
The $57.2 million in adjusted revenue is also a state record. The $574.6 million handle was down 4.6% from January 2024, but the latest amount wagered ranks seventh all-time.
Profitable situation
A Detroit Lions letdown went the way of the house and helped create the profit windfall.
The Washington Commanders eliminated Detroit from the NFL’s Divisional Round. It was the only playoff game the in-state Lions and NFC’s top seed played in January, so sportsbooks could cash in on all the futures market tickets without worrying about Detroit covering or winning a postseason game.
January’s online Michigan sports betting handle fell 7.1% from December 2024’s record to $555.2 million. The state’s 12 mobile operators, however, flourished during the big NFL month with a combined hold of nearly 15% to account for $83 million of the state’s total revenue.
Michigan’s three retail sportsbooks made $2.5 million off $19.4 million in wagers, putting brick-and-mortar operators over $1 billion in the all-time handle.
The Wolverine State filled its coffers with $3.2 million, up significantly from December 2024’s lowly $214,000 in tax revenue.
FanDuel wins big
| Operator | January Handle | Revenue |
|---|---|---|
| FanDuel | $218.2 million | $40.6 million |
| DraftKings | $151.7 million | $22 million |
| BetMGM | $76.2 million | $10.3 million |
| Fanatics Sportsbook | $32.7 million | $4.3 million |
| Caesars | $30.1 million | $1.7 million |
| ESPN BET | $27.3 million | $2.7 million |
It appears many Lions backers used FanDuel, which made nearly half of the state’s online total gross revenue with $40.6 million in earnings. It’s also the highest ever recorded by a single operator in Michigan. The big profits came on a whopping 18.6% hold from a $218.2 million handle that led all operators in January.
Behind a 14.5% hold, DraftKings turned a $151.7 million handle into $22 million of revenue, up from December 2024’s haul of just $6 million. BetMGM had the third-highest handle at $76.2 million, and a 13.5% win rate produced $10.3 million in profits.
Fanatics Sportsbook finished fourth with a $32.7 million handle and watched its monthly revenue go from $1.7 million in December to $4.3 million in January.
Caesars also crossed the $30 million mark in wagers while ESPN BET wasn’t far behind at $27.3 million. Neither, however, reached a double-digit win rate.
iGaming streak continues
Online casino revenue reached new heights for the fourth consecutive month. The MGCB reported that 15 iGaming operators brought in $248.2 million, surpassing Dec. 2024’s mark by over $4 million.
The adjusted revenue of $233.1 million was up 42% compared to Jan. 2024. The Wolverine State hauled in $43.7 million in iGaming tax revenue.
