Sports Betting in Michigan Sees Year-End Drop in Handle

In the latest gambling reports, we are taking a look at sports betting in Michigan and how the local industry has done for the month of December. According to the latest report, the total sports betting handle is $494.7 million. This is lower than the previous month’s handle of $498.1 million. The trend is similar to other states who have seen a slight dip in betting handle as well.

However, sportsbooks in Michigan still did better as the revenue has increased. Back in November, gross revenue was $42.7 million in November, to $50.4 million in December. The hold percentage was 10.2%, up from November’s 8.6%. You can find out how important this information is with these bookie tutorials.

Sports Betting in Michigan for 2022

When it comes to sports betting, the handle can tell us how much was spent in wagering in a particular market, and an increase in handle does not necessarily translate to an increase in revenue. Similarly, a decrease in handle does not mean that revenue will go down as well. You can use a pay per head sportsbook software to track these statistics. By doing so, you will be able to easily predict the activity of your sportsbook in the future.

But the numbers look good for the state. If we look at the numbers for the whole year, online gaming and casino operators have seen almost $2 billion in revenue. The betting handle is at $4.6 billion, which is higher than 2021’s handle of $3.7 billion. Given the increase in numbers year-on-year, many in the industry are optimistic that 2023 will be an even better year for sportsbooks in Michigan. The same goes with online gaming, which is also seeing an upward trend in gross receipts and in handle.

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