Sportsbooks in Michigan Set a New Betting Record in December

In the latest gambling news from the best source of iGaming updates, iGamblingNow.com, we bring you another state that sets a new monthly betting handle, a great end to the previous year. Sportsbooks in Michigan all look forward to reading reports with nothing but green lines as they set a new record in sports betting handle for the month of December.

The data from the report of the Michigan Gaming Control Board states that sportsbooks in Michigan generate $613.4 million. This is a 5% increase from the previous month. Even more noteworthy is that this is the third consecutive month of them breaking the previous betting handle. The trends we are seeing makes it very inspiring to open a sportsbook of your own, doesn’t it?

Sportsbooks in Michigan See Continuous Growth

Michigan offers both retail betting and online sports betting, which is proving to be highly popular. For Michigan, online sportsbooks took in $583 million in wagers, while retail sportsbooks only have $30.3 million. Even though the retail handle seems negligible, it is actually double the handle of the previous month.

The betting handle is not the only consideration bookies have when it comes to data. If you look at the reports you get from your Bookie Pay Per Head software, you will see that the hold percentage is just as equally important. For sportsbooks in Michigan, the hold for the month of December is pretty good at 10.7%. This gives us a $40 million adjusted gross revenue for the month.

And this is not the only sector in gaming in the state that did well. iGaming numbers are also up for the month. With a gross gaming revenue of a record $181.4 million, 19% higher than the previous month. If your own sportsbook runs both sports betting and online casino gaming, you can also stand to earn a lot more than just sports betting, so this is something you could consider offering this year.

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