Michigan’s online sports betting handle plummeted to its lowest volume in history for one full month in July. Less than $200m was taken by online sportsbooks during this period, the lowest since its launch in January. But never fear, online casinos still remain systematically strong, according to Play Michigan, researcher and analyst for the state’s gaming regulations.
Sports wagering was still enough to nearly reach $2bn in a lifetime online handle, with casino revenue surpassing $500m lifetime.
The Michigan Gaming Control Board released data showing the online sportsbooks for Michigan generating $188m in bets for July. These numbers were down 20% from $235.1m the previous month, in June. The online and retail sportsbooks accounted for $206.3m in wagering, combined with $18.3m in retail wagering in July. The total is down 20.5% from $259.4m in bets in June.
Matt Schoch, Analyst for PlayMichigan, said: “Pursuits other than gaming are priorities for many in July, whether that is a trip to the lake or a backyard barbecue,
“The good news for sportsbooks is that with the July dip now out of the way, operators can look forward to Michiganders returning from their summer vacations and for the excitement for the football season to build.”
Other decreases from online betting showed gross gaming revenue from online betting fall 21.6% month-on-month to $19.6m, taking the state’s combined win to $20.8m for the month of July, with online revenue producing $1.1m in state and local taxes.
Online and poker
In comparison to the online sportsbooks figures, Michigan’s online casinos and poker rooms boomed, producing $92.3m in gross gaming revenue, which was up 3.5% from $89.2m in June.
Casinos stormed to success, taking $3m per day in wagers for July, a rate that wasn’t dissimilar in June, (also $3m per day). This consistent revenue was enough to yield $6.4m in local taxes alongside $17.1m in state taxes.
Eric Ramsey, Data Analyst for PlayUSA, said: “Many of the same forces that slow sports betting in the summer, including summer vacations, also affect online casinos,
“Michigan is still a young market that hasn’t yet reached maturity. The addition of live dealer games will make a difference going forward. And as the summer turns to fall, we should once again see revenue at online casinos grow.”
