Overall Sportsbook Revenue and Handle in November 2022 Hits a Decline from October Figures

The data released by the Michigan Gaming Control Board has revealed a decline in sports betting performance in the state for November.

Michigan sports betting revenue took a hit from $51.4 million to $42.7 million in November. More generally, in terms of the amount that was made in wagers at sportsbooks in the state, there was also a decline from $480 million in October to $479 million in November.

While the total handle reduced in November, it’s important to note that the casinos' cumulative performance in November is still the third-highest amount in 2022. Only January’s $496 million and October’s $480 million total handles are higher.

For November, FanDuel was the top-performing sportsbook in the state. The sportsbook was able to generate $154.2 million in wagers in the month, with no other bookie coming close. These massive numbers revealed that FanDuel handled about 32% of the sports betting action in Michigan in November. Coming after FanDuel was DraftKings after receiving $127.4 million in wagers through the month of November.

In terms of revenue, DraftKings came after BetMGM in November, as DraftKings was only able to make $6.7 million in the month, while BetMGM Sportsbook Michigan was able to generate over $8 million in revenue. FanDuel was still the top performer in terms of revenue in the state, as the sportsbook was able to raise over $19m through November. This turned out to be a 49% market share of the entire lot.

In retail betting, MGM Grand Detroit generated $7.63 million as its total handle for November. Greektown Casino’s total handle was at $5.8 million, and Motorcity’s was published at $4.7 million for the month of November.

BetParx managed to pull a 48% jump from its revenue in October as the sportsbook recorded $2.4 million to almost beat its record-breaking performance in January. The sportsbook took a hit in the middle of the year, but its numbers have been improving steadily, and it appears to be finishing the year strong. Caesars Sportsbook, on the other hand, took a 17% drop from its October performance.

The decline in sports betting in Michigan in November 2022 came as a shock for many people because there were high expectations for this month.  These high expectations were caused by all the different sports events that were scheduled for November.

For one, the biggest soccer event in the world, the 2022 World Cup in Qatar, began in November. Asides from all the European Giants that were represented in the competition, the USMNT also played a few group-stage World cup games in November.

In addition to the World Cup, the Michigan Wolverines and the Ohio State Buckeyes had a big football matchup in November also.

There were a number of iconic sporting events taking place in November asides from all these. However, all these could not stop the decline in sports betting action that Michigan sportsbooks experienced in November 2022.

While the reports show that Michigan sportsbooks experienced a decline from October’s numbers, the online casinos recorded a record-breaking performance for the second month in a row.

In October, online casinos in Michigan had a record-breaking performance in revenue earned as they got really close to $141 million. November saw a big increase as the casinos went up to $145.4 million in revenue to record another record-breaking monthly performance in 2022. On average, in October, online casinos brought in $4.5 million on a daily basis, while in November, they were able to bring in $4.8 million daily to set a new record.

In terms of individual performance, Wynn Bet and PointsBet Casinos were able to record record-breaking numbers in November, which contributed to the group’s overall success in the month. However, Ceasar’s casino experienced a 20% drop from its performance in October, as the casino has been experiencing a steady decline for some months now.