Mobile March Madness Betting Dominates Michigan Market

• Michigan sportsbooks saw $383.7 million wagered on sports in March.
• About 93.7% of all wagers came from mobile sportsbooks.
• Sports betting revenue saw $35.2 million, a 9.2% yield.

LANSING, Mich. – Sports betting fans were active in March in the Michigan market as the month over month numbers show a steady increase in activity.

The bulk of the wagers came from mobile sportsbooks, once again showing that mobile and online betting dominate the market in Michigan.

The Michigan sports betting market only recently launched online betting in January, but it has already been established as the primary way local betting fans want to wager.

Mobile Betting Reigns Supreme

The Michigan Gaming Control Board reports that the total betting handle for March was $383.7 million. Sports betting revenue saw $35.2 million collected by sportsbooks, a 9.2% hold rate.

Of the total betting handle, $359.5 million came from online and mobile sportsbooks. This is 93.7% of total wagers in March. Mobile sportsbooks also accounted for $32.5 million in sports betting revenue.

Those betting on sports in Michigan had a big reason to be active in March, with the Michigan Wolverines making it to the Elite Eight in the March Madness tournament.

Michigan unfortunately does not break down their wagers by sports to see exactly where the money was going.

FanDuel Sportsbook is currently the number one operator in Michigan, with $107.2 million being wagered on the mobile app. This is 29.8% of all online wagers. FanDuel has remained the number one sportsbook in Michigan for the third straight month, followed by BetMGM who in the second straight month was the number two sportsbook in Michigan.

BetMGM saw $92.6 million in online wagers, 25.8% of the total market while DraftKings Sportsbook saw $76.5 million in online wagers, 21.3% of the total market.

Barstool sportsbook saw $39.6 million wagered on sports in March, being the only online sportsbook that saw a decrease in activity month over month with a 1.8% decrease compared to February’s numbers. Barstool held 11% of the online market in March.

The remaining sportsbooks, including PointsBet, William Hill, BetRivers, and Fox Bet accounted for 12.1% of the total online market in Michigan.

Legal sports betting in Michigan continues to be dominated by online sportsbooks. This trend is only expected to continue.

News tags: BetRivers | CBB | College Basketball | Detroit | DraftKings | FanDuel | Four Winds | Lansing | March Madness | Michigan | Michigan Gaming Control Board | NCAA | Revenue | TwinSpires