Michigan latest state to smash online betting handle record in October
| By Robert Fletcher
Bettors in Michigan staked $463.3m (£344.5m/€409.2m) during October, setting a new monthly record, while combined online betting and gaming gross revenue also hit new heights.
Gross revenue across online casino and sportsbooks climbed 6.3% month-over-month to $134.0m, according to new Michigan Gaming Control Board figures. This comprised $109.7m from tribal and commercial igaming, beating the record set in September 2021, and $24.3m from online betting.
After adjustments for free-play incentives awarded to players, however, revenue across both verticals was slightly lower, at $103.6m. This still marked a 92.3% improvement on September.
Looking at online sports betting, the $463.3m handle represented a 30.8% rise from September’s $359.5m. Net revenue of $4.7m was significantly higher, after adjustments whittled the prior month’s figure to just $17,399.