Although Michigan’s only team made it to the Sweet Sixteen, the state’s bettors have been unlucky in betting this March. This means that the money went to sportsbooks, resulting in a better revenue and hold percentage for the month. In addition, there was also an increase in the sports betting handle for the month. These things combined resulted in sports betting revenue in Michigan doubling in just a month.
These are numbers that any bookie using the best pay per head sportsbook will be happy about. Since the NFL season is over, we only have basketball and a few other sports leagues running in March. Given that the NFL is the most popular sports league in the country, handle tends to either stay the same, or decrease in the months following the Super Bowl.
Sports Betting Revenue in Michigan: Wagers and Profits
According to the Michigan Gaming Control Board, this March, the sportsbooks in the Great Lakes State accepted $421.6 million in bets. This represents an 18% increase in handle, compared to February’s $357.1 million. Bookies using the best pay per head bookie provider will be happy to see that sports betting markets are still doing good even without football.
The sportsbook gross revenue was even more remarkable, reaching $45.9 million. This gives us approximately twice the revenue generated last month. The state’s operators retained an impressive 10.8% of the bets placed, a generous increase from the 6.4% hold in February, and 6.8% in January. If you want to keep track of the numbers in your sportsbook, using the best bookie software will help you make this happen easily.