Online Sportsbooks Bring in Record Breaking Handle in October

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During October, Michigan’s 14 online sports wagering brands brought in over $551.1 million in wagers. Online sports wagering made up the vast majority of the total handle, accounting for $533 million. This was the first time the online sports wagering handle has crossed the $500 million mark. 

Some have attributed the record-breaking month to the success of the Detroit Lions and Michigan Wolverines, but the online sports betting revenue transcends state lines.

Total Handle Reaches $551.1 Million

In Michigan, the total handle for the month of October was $551.1 million. Out of the total $551.1 million, $533 million was generated through online sportsbooks. According to figures from the MGCB, the previous highest monthly handle was $496.8 million. That translates to a 7.28% increase.

Month over month, the handle was up 15.8 percent when compared with September 2023. Year over year, online sports wagering has continued to grow, while in-person sports wagering persisted to decline. 

Last October, for example, online sportsbooks in Michigan generated a $480.8 million handle. The $533 million handle that the books experienced this October translates to a 10.9% increase year over year.

Several other states have been experiencing a similar rise in online sports wagering over the past two months. According to sportsbusinessjournal.com, Pennsylvania and New York were both up month over month by 14% when compared with September, with the large majority coming from online wagering.

Top Sportsbooks During October

Five different online sportsbooks in Michigan also experienced record-breaking months in October. FanDuel, the online skin for MotorCity Casino, generated an online sports wagering handle of $173.4 million. Just behind FanDuel sat DraftKings Sportsbook MI with a record-breaking handle of $147.4 million. BetRivers Sportsbook MI and Caesars Sportsbook MI also experienced new monthly records, generating handles of $45.5 million and $42 million, respectively. Smaller sportsbooks like the Four Winds Sportsbook also experienced a successful October. Four Winds brought in a handle of $1.2 million, a new monthly record for the sportsbook. 

Sports Betting Numbers Overview October 2023

  • Total Handle: $551.1 million 
  • Online Handle: $533 million
  • Total Revenue: $46.1 million 
  • Online Sportsbook Revenue: $45 million (97.6% of total handle)
  • Hold: 8.4% (9.6% decrease compared to September)
  • State tax revenue generated from sports betting: $1.8 million
  • Local tax revenue: $715,736
  • Top online sports betting app by total handle: FanDuel Sportsbook MI ($173.4 million)
  • Top online sports betting app by revenue: FanDuel Sportsbook MI ($20.5 million)

Michigan currently has just 14 online sports betting operators live in the state. A total of 15 licenses have been authorized to offer iGaming and sports wagering. Below is a detailed view of sports betting numbers from October:

Retail Casino PartnerOnline Sportsbook BrandHandleRevenueHoldTaxes
MotorCityFanDuel$179,308,530$21,166,52111.80%$1,278,543
Bay MillsDraftKings$147,378,170$16,292,38811.10%$718,766
MGM Grand DetroitBetMGM$84,787,159$7,262,6808.60%$421,110
Little River Band of OttawaBetRivers$45,509,160-$749,275-1.60%$0
Grand Traverse Band of Ottawa and ChippewaCaesars$42,020,379-$306,456-0.70%$0
GreektownBarstool$28,008,294$1,374,0254.90%$93,860
Lac Vieux Desert Band of Lake Superior ChippewaPointsBet$12,521,808$360,6372.90%$0
Sault Ste. Marie Tribe of ChippewaWynnBet$2,987,788$243,3608.10%$20,430
Saginaw ChippewaEagle$1,967,526$150,1107.60%$5,074
HannahvilleSI$1,706,010$29,9551.80%$0
Nottawaseppi Huron Band of PotawatomiFireKeepers$1,364,904$30,5512.20%$0
Pokagon Band of PotawatomiFour Winds$1,225,828$147,10112.00%$0
Keweenaw BayGolden Nugget$1,186,245$42,1353.60%$0
Match-E-Be-Nash-She-Wish Band of PottawatomiPlay Gun Lake$1,155,222$91,9758.00%$0

Mac Daniel is a writer for PlayOnlineCasino and PlayOnlineSportsBetting. He has experience writing about a wide variety of topics, including healthcare, tourism, non-profit organizations, and most recently casino and sportsbetting news. To check out more of his work, visit: playonlinemichigan.com