In the latest gambling news, we are keeping track of various markets across the US. From finding out the latest developments in plans for online gambling in Rhode Island to the latest in sports betting, you can find the latest updates here.
And today we are taking a look at the latest report from the Michigan Gaming Control Board as the state’s sportsbooks took in $497.6 million in wagers in March. The handle is shy of half a billion, and is almost 20% higher than February’s handle.
March tends to be a big month in sports betting. Even though football, which is the most popular sport in the US, is on a break, basketball is a close second in terms of betting. The NBA regular season is in full swing. But most of the betting action actually comes in from betting on college basketball, with the NCAA’s March Madness driving everyone crazy with college basketball action.
Michigan Sportsbooks in March
Your bookie pay per head software will be able to generate similar reports for you. You can use these reports to evaluate your operation, find out which sports are popular, and how you can maximize your sportsbook’s potential even more.
Michigan, for example, is recording the highest monthly revenue so far this year. The hold percentage is shy of double digits, but not bad at 8.7%. Gross revenue for the month is at $43.5 million. This puts Indiana as the top 7th state in terms of sports betting handles, with New York at the top spot, followed by New Jersey, North Carolina, Massachusetts, Maryland, Indiana, and finally, Michigan.
The true test will be in the coming months when the sports calendar slows down. If you are considering this as well, check out the common challenges for bookies and find out how you can strategize for leaner seasons in sports betting.
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