Michigan online sports betting handle was up 66.6% on a month-by-month basis, reaching its highest in half a year.
Overall online sports betting handle reached US$364.5m for the month of September, rising from US$218.8m in August. It was also an increase year-on-year, with handle up 2.9% from US$354.3m.
Although online sports betting handle increased, retail sports betting handle was down 42.9% year-on-year, and thus combined player wagering was down slightly overall, perhaps lending to the macroeconomic climate.
September was the second largest month in 2022 for promotions given out by online sportsbooks, with US$20.6m in promotions awarded to players across the 15 online sportsbooks (run by the tribes of Michigan + the three commercial casinos).
57.1% of total online player spend came through two Michigan sportsbooks. The most for September was through Bay Mills Indian Community, which took US$108.2m of wagers, with MotorCity Casino (Detroit) a close second with US$106.3m.
A total of 54.1% of online sportsbook wagers were taken through the three Detroit casinos MGM, MotorCity and Greektown.
The Lions fail to roar…
The rebound largely is attributable to the resumption of the NFL, and the upwards trajectory can be expected to continue with NBA resuming at the end of September, too. Despite an opening week victory, the Detroit Lions are now on a four match losing streak having conceded 194 points in total, trumped only by the New Orleans Saints for poor defensive record.
In 2021 October through April were comfortably the largest for online sports betting wagering in Michigan, so should consumer patterns remain constant then consistent growth from now could be expected. January 2022 holds the record, with US$496.8m wagered in the month, just edging December 2021’s US$484.6m.
With the global economy being hit by a squeeze, analysts do predict a semblance of resilience from the gambling industry so only time will tell whether or not demand sustains at previously expected levels.
