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Michigan sportsbooks experience drop in May handle but online casinos "a powerhouse"

According to data released by the Michigan Gaming Control Board, the state has seen a decline in sports betting for the second consecutive month.

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In May, Michigan sportsbooks took in wagers of $237.6m, a 5% decline from the $249.9m taken in April, with April also being a month of decline.

April was a month that saw a 29% drop in wagering. This represented the steepest month-on-month decline among the 10 largest sports betting markets in the US, but would have chiefly been down to March's high numbers thanks to the March Madness NCAA Tournament.

Jessica Welman, PlayMichigan.com analyst, said: “Sportsbooks have been hit by the seasonality of sports betting and struggling local teams. It appears they will have to wait until the end of summer before substantial growth can be expected again.”

For May, the state's online and retail sportsbooks saw $257.7m in bets, down 6% from April’s $274.2m.

Gross operator revenue also dropped by 5% to $19.5m; this produced $9.9m in taxable revenue, down from $10.9m.

Michigan’s online casinos and poker experienced slightly better numbers with this area, reporting a smaller decline.

Online casino and poker rooms hit $94.9m in May, nearly becoming the state's first $100m revenue month and reporting similar incomings to the previous month.

May’s win breaks down to $3.1m per day, a small fall from the $3.3m per day in April. The win produced adjusted gross receipts of $89.1m, which is a marginal increase from the $88.9m in April.

Welman added: “Online casinos have become a powerhouse of revenue generation.

“Revenue has remained high, even as retail casinos around Detroit have become more accessible. Looking ahead, the popularity of these games should remain and likely expand over the next few months, even as retail casinos’ operations continue to steady.” 

 

 

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