Michigan Sportsbooks See Less Sports Betting Activity in April

In the latest gambling industry news, Michigan sportsbooks see less sports betting activity in the month of April. According to the latest report from the Michigan Gaming Control Board, the Great Lakes State has 23.3% less wagers than the previous month. March’s sports betting handle was $421.6 million, while April’s handle is only at $338.1 million. Even the year-on-year numbers are lower by 14.6%, according to the report.

Naturally, gross revenue also takes a hit, falling 21% month-over-month to $36.2 million. However, things are still good because sportsbooks in the state are maintaining a double digit hold percentage at 10.7%. If you are using a good pay per head sportsbook software to manage your sportsbook, you can also track your sportsbook activity and be able to see trends in activity as well. While not all sportsbooks get the same results over the same time period, it can be a good indicator of the direction of betting trends.

Michigan Sportsbooks See Less Sports Betting Activity: The Numbers

Generally, the Bookie PPH industry continues to do well, even with the dip in handle during slow months. This is because your bookie software can offer other gambling products like casino gaming and horse racing. In addition, online betting continues to remain popular. After all, nothing beats the convenience of just opening an app or a website to view the betting odds and place bets from wherever you are, at any time, day or night.

And for Michigan sportsbooks, the decrease is still not as bad as you would think. Because the taxable revenue, despite the lower handle, still remains good. In fact, it was the second-most profitable month in 2023. The state currently has 15 sports betting operators, so there are a lot of options for bettors in the state. Sports betting has been legal in the state since 2019, and is one of the first states to open its doors to legal sports betting. And so far, the state has been earning millions each month from tax revenues from these sportsbooks.

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