May is known to be one of the worst months for sportsbooks in the Michigan gambling industry, and this year was no different. Sports betting handle continued to decline in May 2023, with online wagering handle dropping to below $300 million for the first time since August 2022.
Unfortunately, the outlook for the first five months of the year have also not been positive as sports betting handle over the period as it declined by 10.3% relative to 2022. Individual sportsbooks have also struggled with betting hold and revenue in the month of May. All the details are available below.