The Michigan Gaming Control Board reported $40.9 million in gross internet sports betting revenue for May on Tuesday, completing the picture of a rout by the Wolverine State’s sportsbooks.
When including retail numbers released earlier this month, operators collected $42.8 million in gross winnings while posting a 12.1% hold. It was the seventh-highest win rate in 47 months of wagering and second-best with sports betting apps available behind the 13.2% hold posted in September 2022.
It was also the third consecutive May that the state’s sportsbooks combined for a double-digit hold.
Gross revenue was up 18.4% compared to last year, slightly outpacing the 16.2% rise in total sports betting handle to $354.8 million. Despite a 14.4% dip in handle from April, winnings were down only 1.5%.