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Michigan Sportsbooks Post Year-High Hold in May

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The 12% hold percentage is the best in 2024 so far despite Michigan’s sports betting handle being its lowest monthly figure year to date.

Michigan sports betting has established itself as one of the more prolific markets in the U.S. legal sports betting space. The

Despite the relatively low wagering total, Michigan sportsbooks earned $42.8 million in gross gaming revenue thanks to a 12.1% hold that was the best of the year to date. May has actually been a winning month for sportsbooks in Michigan for two years running now. May 2023 saw $305.3 million wagered, but Michigan sportsbooks earned $36.1 million in revenue.

Retail sportsbooks in Michigan accounted for an $11.15 million handle, but fleeced their bettors with a 16.76% hold, producing $1.87 million in total revenue.

 

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