If you read through some of the gambling news websites, you will see a lot of reports on the sports betting markets. Specifically, you may see that in the recent couple of months, most of these reports point to an upward trend in sports betting activity. With a busier sports calendar in the US, sportsbooks across the country are reporting better numbers. And sportsbooks in Michigan are part of this- seeing half a billion in wagers in October.
According to the latest report from the Michigan Gaming Control Board, sportsbooks in the state took in $551.1 million for the month of October. The increase is due to a very busy October with baseball, football, basketball and hockey all in season. It also helps that the Michigan Wolverines as well as the Detroit Lions are doing great in their respective leagues so far.
Sportsbooks in Michigan are Seeing Record Numbers
Bookies who are using pay per head software are now reaping the benefits of running an online sportsbook. Whenever we take a closer look at betting markets, online wagering tends to rake in more handle and revenue than their retail counterparts. For Michigan, over 96% of the handle come from online sportsbooks.
The $533 million mobile betting handle is the highest the state has seen since Michigan legalized sports betting. If anything, this proves that you still have the chance to join in on a still-growing industry. With the right bookie pay per head software, you can easily put up a sportsbook and start earning instantly. Online sportsbooks in the state collect $23.4 million in revenue, 25% higher than the previous month.
As for retail sports betting, brick-and-mortar sportsbooks saw $18.1 million in bets. This is also the best handle that they have seen in 2023. Given the success of sports betting in the state, and the continuing good fortune of local sports teams, it may not come as a surprise for us to see the market sustain similar levels of growth in November.