The Michigan sports betting handle for November passes the $500 million mark. It is also the third month in a row that the state declares a new record high monthly handle. With $500.5 million of wagers from Michigan sportsbooks, we are seeing a 0.6% increase in total sports betting handle from October’s $497.6 million. Hitting the half billion mark is very encouraging, especially to those who are learning how to be a bookie.
The total monthly mobile betting handle sets a new record for November as well. We have $473.8 million in online sports bets, with a 2.4% increase from October’s $463.3 million handle. Mobile betting also takes up majority of the wagers in the state, proving once again that online sports betting is thriving more and more. Many bookie pay per head solutions providers are recording a lot registrations, meaning that we are seeing more online sportsbooks pop up to help keep up with the demand for online sports wagering.
Michigan Sports Betting
But the handles alone are not the sole records that the state is setting. The total adjusted sports betting gross gaming revenue is also a new record. November’s $38.8 million is a staggering 429% higher than October’s $7.3 million. From the total adjusted revenue, $34.5 million comes from online sportsbooks, while retail sportsbooks generated $4.3 million. Given the many options available from a white label sportsbook, its unsurprising to see that much revenue coming in from online platforms.
Fall brings in the early increase in sports betting activity, which carries on well until winter. You have the NFL which started in September, and of course college football. This sport alone can generate hundreds of millions in betting activity. You also have the NBA and the NHL starting their seasons back in October, which increases the daily wagering options of Michigan residents. November’s betting activity rises even more as college basketball season starts during that month.