{"id":1585134,"date":"2024-06-19T10:25:52","date_gmt":"2024-06-19T14:25:52","guid":{"rendered":"https:\/\/sports7.us\/?p=1585134"},"modified":"2024-06-19T10:27:28","modified_gmt":"2024-06-19T14:27:28","slug":"michigan-reports-40m-in-mobile-revenue-posts-12-hold-in-may","status":"publish","type":"post","link":"https:\/\/sports7.us\/news\/michigan-reports-40m-in-mobile-revenue-posts-12-hold-in-may\/","title":{"rendered":"Michigan Reports $40M In Mobile Revenue, Posts 12% Hold In May"},"content":{"rendered":"

The Michigan Gaming Control Board reported $239.5 million in online gambling revenue, $40.9 million in gross mobile sports betting revenue, and a 12%.1 hold for May on Tuesday. If retail numbers are factored in, operators collected $42.8 million in gross winnings.<\/p>\n

Michigan became the 10th state to surpass $16 billion in all-time handle<\/h2>\n

May's win rate was the second highest with sports betting apps<\/a> available behind the 13.2% hold posted in September 2022. Plus, it was the third consecutive May that the state\u2019s sportsbooks combined for a double-digit hold.<\/p>\n

Gross revenue also increased 18.4% over last year.<\/p>\n

Although the handle dropped 14.4% from April, winnings were down just 1.5% overall.<\/p>\n

There are 14 sportsbooks in Michigan: BetMGM, BetRivers, Caesars, DraftKings, Eagle Casino & Sports, ESPN BET, Fanatics, FanDuel, FireKeepers, Four Winds, Golden Nugget, Play Gun Lake (betPARX), TwinSpires (horse racing only), and WynnBET<\/a>.<\/p>\n

Moreover, Michigan became the 10th state to surpass $16 billion in all-time handle, with the $2.28 billion in wagers accepted this year up 19.4% compared to the first five months of 2023.<\/p>\n

Seven states finished ahead of the Wolverine State in handle last month: New York ($1.98 billion), New Jersey ($838.9 million), Massachusetts ($587.3 million), North Carolina ($525.5 million), Maryland ($431.5 million), Tennessee ($379.2 million), and Indiana ($361.6 million).<\/p>\n

DraftKings attained its first double-digit hold of 2024<\/h2>\n

Additionally, Michigan levied taxes on almost $30 million in adjusted gross revenue, leading to $1.8 million for state coffers. Detroit received $751,000 in receipts. Of that amount, $665,100 came from mobile operators.<\/p>\n

The $7.7 million in state taxes is $743,700 ahead of last year\u2019s pace, with the $119.7 million in AGR up 11.6% from 2023.<\/p>\n

FanDuel set an all-time high with $18.2 million in revenue from $123.2 million in handle, resulting in a 14.8% hold. DraftKings attained its first double-digit hold of 2024, making May the ninth straight month the sportsbook had an eight-figure revenue haul.<\/p>\n

BetMGM recorded its first win rate over 10% this year. The operator reached 11.7% and generated $5.5 million in revenue from $46.9 million in handle. Last month's performance propelled BetMGM\u2019s hold for 2024 to 8.8%, considering revenue surpassed $25 million, and the handle went above $300 million.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Michigan Gaming Control Board reported $239.5 million in online gambling revenue, $40.9 million in gross mobile sports betting revenue, and a 12%.1 hold for May on Tuesday. If retail numbers are factored in, operators collected $42.8 million in gross winnings. Michigan became the 10th state to surpass $16 billion in all-time handle May's win […]<\/p>\n","protected":false},"author":305,"featured_media":1585148,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[447316],"tags":[447423,447424,447426],"acf":[],"yoast_head":"\nMichigan Reports $40M In Mobile Revenue, 12% Hold In May<\/title>\n<meta name=\"description\" content=\"The Michigan Gaming Control Board reported $239.5 million in online gambling revenue, $40.9 million in gross mobile sports betting revenue...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sports7.us\/news\/michigan-reports-40m-in-mobile-revenue-posts-12-hold-in-may\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" 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