Michigan sports betting revenue for April of 2023 took a year-over-year dip with $388.1 million wagered throughout the month. On the more positive side, Michigan sports betting revenue grew to $36.3 million, better numbers than April of 2022.
There are a number of factors in play for this overall decrease in betting handle, such as the launch of nearby Ohio’s sports betting market to start the year.
Michigan Sports Betting Handle Numbers For April Show Dip From 2022
The Michigan sports betting market has been live for over two full years now, although the numbers have seen a slight tumble as of late. In a recent Legal Sports Report post, it was reported that the Wolverine State’s $388.1 million handle for April of 2023 was 15% lower than April of the previous year, which had $371.2 million in collected wagers.
April numbers overall aren’t as strong as other months when it comes sports betting. Although April is the first full month with the MLB regular season and features the start of the NBA Playoffs and NHL Playoffs, events such as the Super Bowl, the NFL Playoffs, and March Madness bring bigger betting numbers in the first quarter of the year.
2023 has overall been a down year for Michigan sports betting. While bettors in the state had wagered $1.72 billion in the first four months of 2022, the Michigan handle is just $1.55 billion in that timeframe for 2023, representing a 9.7% decrease.
E-Rod on the hill tonight. pic.twitter.com/wo25tr1nAb
— Detroit Tigers (@tigers) May 23, 2023
Michigan Sports Betting Revenue Increases In April
While the handle has definitely taken a tumble overall, Michigan sports betting revenue is up year over year. Michigan’s sports betting operators brought in $36.3 million throughout April of 2023, a 12% jump from the previous year. Michigan sports betting revenue overall is up from last year, with $137.2 million in the first four months of the year. This shows a 15.9% increase from last year, with FanDuel Sportsbook being a driving force behind the numbers.
FanDuel is responsible for $71.2 million throughout that time, or 51% of Michigan sports wagering revenue. The mobile sports betting app has a major presence in the state, with established partnerships with local teams like the Detroit Red Wings and Detroit Tigers.
OTAs loading… pic.twitter.com/QoPQzQMdLc
— Detroit Lions (@Lions) May 23, 2023
Continued Success Of Ohio Sports Betting Could Explain Decreased Michigan Numbers
There are a few different reasons for Michigan’s decreased handle numbers. The biggest factor might be the launch of Ohio sports betting on January 1st, 2023, which meant bettors in the area would no longer have to travel to neighboring Michigan in order to wager on sporting events from their smart devices.
This can be seen by the big numbers seen since the launch of Ohio sports betting. Throughout its first three months, the Buckeye State has an overall handle exceeding $2.4 billion, with some projections having the state bring in $10 billion total by the end of the year.
Michigan sports wagering has also been around since January 21st, 2021, meaning that sports betting operators have likely reshifted their focus away from marketing to new users in the area. The betting numbers for both Michigan and Ohio will be important to monitor throughout the rest of the year, especially when the 2023 NFL season kicks off in September.