The sportsbook pay per head industry continues to grow in scale and revenue. A lot of online sportsbooks are seeing an increase in handle, especially as we are starting to see more sports events happening. However, Michigan is experiencing a slight bump in their local betting market. It is the second month in a row that the Michigan sports betting handle sees a decrease in its online numbers.
The total Michigan sports betting handle in May is $257.8 million, which is 5.98% lower than April’s $274.2 million. Meanwhile, April’s handle is a whopping 30% lower than March’s total betting handle of $359.5 million, which is the highest handle the state has recorded since its launch.
Michigan Sports Betting Handle – Online Sports Betting
The online betting handle for Michigan also drops at $237.6 million, 4.9% lower than April’s $249.9 million. This decrease in handle is unusual, especially for online sports betting. A lot of pay per head sportsbook operators are seeing an increase in May, compared to April’s handle. There are a number of reasons why this would happen, so let’s take a closer look.
In the case of Michigan, the case may be simple: it’s the local market preference. If you take a look at your sports betting bookie software, you will see that your players will tend to bet on certain sports, or, a certain team frequently. The preferences of your players may affect the activity of your sportsbook, from monthly betting activity that depends on what sports league tournaments are ongoing, to where your players are from.
Michigan Sports Teams to Blame?
In Michigan, for instance, the data tells us what we need to know. The volume of bets the state’s sportsbooks are getting continues to decrease, and it is not the case for nearby betting markets. Casino operations in the state remain constant, so the slump seems to be limited to just retail and online sports betting.
Most experts are looking at Michigan teams- the Pistons, the Red Wings, and the Tigers. These teams have been having a hard time winning their games, and the lack of success that these Detroit teams has could be depleting the interest of the betting public. Hopefully, with football season picking up, the numbers will be better in June.