In our pay per head blog, we always keep track of the trends in the sports betting industry. We take a closer look at each betting market and report on increases, or downward trends. During this time of the year, though, its safe to say that most, if not all reports that we will see will be an upward direction. The Michigan sports betting handle for October is one of those.
The state records $504.3 in wagers for the month. This gives us a 32% increase from the September handle of $383.1 million. The increase in handle comes mostly from football betting, something that is very popular in the Motor state, and in every pay per head software provider in the country.
Michigan Sports Betting Handle and Revenue
We are also seeing a 9% increase in year-on-year wagering. Which, of course, is unsurprising, considering the state has a lot of good sports teams. The NHL has the Detroit Red Wings. You also have Michigan and Michigan state for college football. The NFL has the Detroit Lions, too. And these are just the teams playing in leagues that are active for the month.
Many who use a software sportsbook service for their online bookie businesses will also be interested in the revenue for the state’s sportsbooks. The revenue for October is $51.4 million, which is higher than the previous month. However, the hold percentage dropped a bit. But still, the year-on-year numbers are giving us a 90% year-on-year increase in revenue from 2021.
The handle for the state’s sportsbooks could still increase as basketball and soccer will be much more active in November. Many bookies are getting ready for a busy calendar, so expect to see better numbers once November’s report comes out.
