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Since the launch of sports betting in Michigan, July has been the month with the lowest figures. The Michigan sportsbooks experience a revenue of less than $200 million which is a record low.
It’s possible that many other US states also had a poor July this year. However, certain states do not publish their information to the public, such as Nevada.
Online sports wagering revenue reached $188m in July, which for sportsbooks was a decrease of 20% from June’s bets. When combined with retail sports betting, the total was $206.3m in bets. This again was a 20.5% drop from June’s wagers.
Comparatively, internet gambling generated $92.3million in revenue. This was a 3.5% increase from June. Analysts suggest the increase in revenue is likely from the launch of live dealer casino games on July 22 across Michigan casinos. Live dealer games are extremely popular among bettors due to the Las Vegas atmosphere effect it produces.
Decreased revenue also means a decrease in taxation, which is a slight downside for the Great Lakes state. Overall, $762,220 was paid in online sports betting taxes to Michigan.
Analysts suggest that one reason for the drop is due to the low performance of sport in July. Bettors have other priorities in the sunny month of July, such as family barbeques and even family holidays.
Further, even though July produced the Tokyo 2020 Olympics, many American bettors found it difficult to place wagers due to the time difference. Additionally, the type of bet placed on Olympic sports is likely to be futures bets that generate a different revenue. However, now that we are over the July dip August is meant to brighten up for the online sportsbooks.
The NFL preseason is now well underway, with Michigan sportsbooks offering brilliant preseason moneylines, parlays, funny props, and even NFL Super Bowl 2021 futures bets. This will definitely increase the figures for August as Michigan bettors place their wagers on the Detroit Lions!
Lastly, analysts also note that Michigan is still a young market but with an abundance of potential. Internet gambling and sports betting were only legalized in December 2019. Therefore, Michigan has some catching up to do compared to a more mature market such as New Jersey.
Sportsbook giant FanDuel came out on top. Although FanDuel topped Michigan operators with $7.8m and generated $54.5m, FanDuel still had a drop of $20m from June’s revenue.
DraftKings sportsbook came in a close second with $53.4m, a $3m decrease in wagers from June. For DraftKings, there wasn’t as much as a drop compared to FanDuel. This might be due to DraftKings’ purchase of Golden Nugget for $1.56 billion, which definitely paid off nicely.
In third place was BetMGM. It produced $41m in bets. This was a decrease by $5m in June. At BestAppBet, we rated BetMGM as one of the top three best betting apps, matching the figures here.
Overall, there have been mixed results across the whole of the internet and retail gambling for Michigan. August is set to be a more positive month, especially with the start of the beloved NFL.
Due to the annulment of PASPA in 2018, many states alongside Michigan have legalized sports betting. Further, many are in the process of legalizing.
BestAppBet offers you the best legal US sportsbook apps to bet on the upcoming NFL season and if you are unsure what is legal in your state, visit BestAppBet’s website state page to see the legal gambling status in your state.
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Sugarhouse is owned by Rush Interactive, which is one of the most prominent providers of online sportsbook and casinos in the country. In 2016, SugarHouse launched it online casino in New Jersey, joined by its online sportsbook in 2018. Since then, it became a leading casino and sportsbook for Americans. Check out their fantastic bonuses, games and bets available, and see yourself why when it comes to casino and sports betting in the USA, Sugarhouse is a Powerhouse
March Madness seems to get better every year, and the 2022 version has not disappointed. Some favorites have dominated, while others have been dumped out much sooner than expected. Every tournament needs a Cinderella, and Saint Peter’s is one of the most heartwarming underdogs in recent memory. This tournament has shown that anything can happen, and US bettors have had a great time trying to predict these games and sometimes making great profits.
With February officially coming to an end, NCAA basketball fans are gearing up for perhaps the biggest March Madness in recent memory. Now more than ever before, there seem to be upset every weekend. Not only that, but college basketball betting has also grown exponentially in the past twelve months since the Baylor Bears won their first national championship in program history. With the hype now starting to build and Selection Sunday less than a month away, sports pundits have been speculating who they believe will bring home the trophy in 2022.
December has Christmas, January has New Year’s Day, February has Valentine’s Day, and March has March Madness. The time has almost come for the US’ favorite college sports tournament. The nation’s full attention falls on those teams that qualify for the tournament. Over the years, millions of Americans have taken part in local brackets on who will win March Madness.
SPORT BETTING APPS Sports betting has always been an exciting way for fans to buy into the sport, in a way participate and add another dimension of thrill and excitement to the competition, match or any sporting event. With the evolution of remote betting first to phone, and later on to online betting, remote sports-betting not only became available to a wider audience, but also added a whole new level of excitement and magic to sports betting. Today’s mobile sports betting apps, which are readily available on both Android and Apple, are on the front line of technology, and alongside an exceptional slick and user friendly interface, opens to sports betting punters an entire universe of sports events, odds, games and features such as live streaming and in-play betting. Are you into NFL? Are you an NBA fan? Maybe your thing is baseball so you would like to bet on MLB? Or perhaps you are into world sports and want some European Premier Soccer betting? The mobile sports betting apps bring all of this amazing action to your mobile device, so you can bet on what you want, from wherever you are, at any time you choose to.
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POKER APPSA lot has changed since the first games of poker were played along the Mississippi River in the 1800s, with Poker becoming a worldwide phenomenon, crossing the boundaries of a card game and considered by many a sport, with tournaments, leagues and champions. Being a game with friends or a professional tournament, the online revolution turned poker to be a game that is played and followed by billions all over the world. And then the latest stage of the poker uprising which is the mobile poker apps, which enable you to access any kind of level, tournament and game from your mobile phone, no matter where you are in the world, and what time it is, you can join in the poker fun and excitement and play against other poker enthusiasts like you around the globe. Poker is now coming home again, and becoming legal to play remotely state after state in the USA also. So now Americans can already download a safe and legal mobile.
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