The third month of the year was full of madness for Michigan sports betting, with huge gains in sports betting handle and revenue.
Overall, the Great Lakes State’s sportsbooks took in $421,666,037 worth of handle during March, representing an 18.1% month-over-month increase from February’s $357,161,200 haul.
The returns from Michigan’s adjusted sports betting revenues during March were even rosier, with a 268.7% jump from the February Michigan revenue report, going from $8,911,555 to $32,857,411.
The large revenue figure meant that wagering taxes in Michigan also soared in March, gaining 227.8% from February’s total of $600,604 to wind up at $1,969,024.
The City of Detroit saw their wagering tax figure also shoot northward, going from $21,194 in February to $65,210, representing a 207.7% increase.
Retail sportsbooks in Michigan also got in on the good tidings of March, with a handle of $13,938,183, which represented a 14.1% month-over-month increase from February’s total of $12,218,814.
The handle for Michigan sportsbook apps was more than $400 million.
Michigan Sports Betting, March vs. February
Where Michigan’s March Sports Betting Handle Ranks
So far, state sportsbooks — which all feature numerous Michigan betting bonuses — have posted the sixth largest wagering handle for the month of March, thanks to the state’s connection to March Madness.
The state is sandwiched between Indiana ($433 million) and Tennessee ($392.7 million) nationally and ahead of Maryland ($386 million), Louisiana ($249.3 million) and Iowa ($232.6 million).
The leaders for sports betting handle in March nationally are New York, which reported $1.79 billion in wagers, and neighboring New Jersey, which also broke the $1 billion plateau, finishing the month at $1.03 billion.
Pennsylvania and Massachusetts as of now have the third and fourth spots locked down nationally, posting wagering handles of $723.5 million and $568.1 million, respectively.
On a state level, sportsbooks in Michigan took in $1,267,732,059 worth of wagers during the first quarter of 2023.
That total represents an 11.6% decrease from the $1,434,418,038 operators took in during the same period a year ago.