The latest bookie news from Michigan sportsbooks tell us that football really is one of the most lucrative sports in the country. And with football season over, sportsbooks see less action. Michigan is one of those betting markets affected, as their total monthly betting handle sees 27% less than January’s numbers.
According to the Michigan Gaming Control Board, the total sports betting handle for the month of February is $357.1 million, which is remarkably less than January’s $490.8 million in January. This is common when it comes to sports betting, and your pay per head sportsbook may also see a similar trend when popular sports leagues go on break.
In addition to the lower handle, the report also states a 32% decline in gross revenue. February’s gross revenue is at $23.1 million. But the decrease in numbers is not solely because of the absence of football, as there are other reasons as well.
Michigan Sportsbooks: What the Numbers are Telling Us
Aside from less wagers coming in, bettors in the state also won more this month. According to the report, sportsbook operators get to keep only 6.4% of the wagers made in February. This is slightly lower than January’s $1.1 million. This is the second month in a row that the hold percentage has gone lower in the state, as December’s percentage is at 10.2%.
If you want to become a bookie and open your own sportsbook, you can easily track your sportsbook’s handle, hold percentage, and other important data. A good bookie pay per head solution will help you generate reports to better understand your sportsbook, down to its day-to-day operations. Much like in betting markets like Michigan, you will be able to determine the trends, and what you can do to generate more income from your sports betting business.
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