Michigan Sports activities Betting Deal with, income decline for second straight month
Sports betting in Michigan declined for the second straight month as bettors failed to fill the void in football and college basketball.
Total hit $ 257.7 million in the Can, the lowest total for an entire month since online betting was introduced mid-January. The income from sports betting was $ 21.2 million.
May’s grip is down 32.8% of the $ 383.7 million bet March, but operators don’t have to worry. The sports betting dip reflects the slow sports calendar, especially with the Detroit Red Wings and piston miss their respective postseason tournaments this year.
Despite the decline, online gambling in Michigan appears to be perfectly healthy. The revenue from the online casino was only $ 200 and switch AprilThat is overall according to Play Michigan.
So far mixed results from other jurisdictions
So far, six jurisdictions with legal US sports betting have reported May figures. Half of that, including Michigan, saw a sequential decline.
Iowa and West Virginia also saw her grip slip for the second time in a row. Indiana, Oregon (which doesn’t offer college betting) and Washington, DC all reported growth.
More information is needed to see what the overall trend for May will be. Powerhouses New Jersey and Pennsylvania should both report May results this week.
DraftKings up, bar stools down in the sports betting race in Michigan
FanDuell sports betting remains the best online sportsbook in the state with $ 71.2 million under control, or 30% of the online sports betting market.
DraftKings Sports Betting increased the gap between second and third place BetMGM Sports Betting. DK took $ 66.7 million when betting online for 28.1% of the online market.
Bar stool sports betting, meanwhile, sees its share continue to fall. It is 7.7% Online market share with $ 18.2 million in Handle is the lowest since the Michigan online betting market began. Bar stool started around 23.9% share in January and had 9.9% of the market in April.
The other eight Online sports betting in Michigan put together for just over $ 30 million in online trading, good for 13.6% Share.