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Michigan’s internet gaming industry had a remarkable month in March, generating a staggering $95.1 million in revenue, with the online casino sector leading the charge.
Since the launch of online gambling on January 22, Michigan has emerged as one of the top US states for internet gaming revenue. In February, the revenue total experienced a significant increase of 19.3%, marking the state’s first full month of numbers. It is worth noting that currently, only five states have legalized online casinos.
Last week, New Jersey ($113.7 million) and Pennsylvania ($97.7 million) revealed their figures, with Michigan coming in third in March revenue.
BetMGM adds poker, leads internet gaming revenue
BetMGM emerged as the top performer among 11 online casinos, generating a remarkable revenue of $30.8 million and capturing an impressive 32.4% market share. On March 22, the operator introduced BetMGM Poker, which not only solidified its position as the leading online gaming platform in the state but also established it as the second online poker site available throughout the region.
| Operator | Revenue | Promos | State Tax | Local Tax |
|---|---|---|---|---|
| BetMGM | $30,792,815 | $0 | $4,224,774 | $1,810,618 |
| FanDuel | $18,929,038 | $1,897,531 | $2,336,723 | $1,001,453 |
| DraftKings | $16,557,456 | $1,655,746 | $2,670,387 | $667,597 |
| BetRivers | $6,733,066 | $673,307 | $909,090 | $227,272 |
| PokerStars | $5,775,711 | $577,571 | $813,559 | $203,390 |
| BetWynn | $4,428,521 | $442,852 | $547,606 | $136,901 |
| Barstool | $3,858,328 | $385,833 | $376,079 | $161,177 |
| Golden Nugget | $3,411,880 | $335,710 | $412,713 | $103,178 |
| TwinSpires | $2,183,623 | $218,362 | $251,553 | $62,888 |
| Four Winds | $1,827,736 | $182,774 | $210,555 | $52,639 |
| William Hill | $583,418 | $0 | $74,678 | $18,669 |
| Total | $95,081,592 | $6,369,685 | $12,827,716 | $4,445,782 |
On Tuesday, the Michigan Gaming Control Board released the combined figures for poker and casino activities.
In just 69 days, internet gaming has generated an impressive total revenue of $204.2 million, surpassing the earnings of online sports betting by a significant margin.
The introduction of online gaming has contributed significantly to the revenue of public funds as well. In March alone, a staggering $17.3 million was generated in state tax revenue, resulting in a total of $35.6 million collected within the first two months of its launch. Moreover, the city of Detroit witnessed an impressive $4.9 million increase in taxes and municipal service fees in March, contributing to a cumulative total of $10.5 million since January 22.
In-depth coverage
Michigan is already proving to be a force to be reckoned with, as it has quickly made a significant impact in just two months. Let’s compare how the state measures up against New Jersey and Pennsylvania.
FanDuel second, DraftKings third in casino revenue
FanDuel Casino ranked second in Michigan’s online casino revenue, generating $18.9 million, thereby capturing a market share of 19.9%. DraftKings Casino secured the third position, earning $16.6 million and holding a 17.4% market share.
BetRivers ranked fourth in terms of revenue, generating $6.7 million, which accounted for a 7.1% share. Stars Casino/PokerStars occupied the fifth spot, earning $5.8 million in revenue, equivalent to a 6.1% share.
Since its launch on January 22, BetRivers has experienced a significant increase in market share. In January, the Rush Street brand held 4.6% of the internet gaming market, which then grew to 5.4% in February and further rose to 7.0% in March.
Considering that Michigan has only been in the market for less than 90 days, it is commendable that it is being compared to more established states like NJ and PA. This indicates the state’s impressive strength in the sector when considering the national context. It is worth noting that this observation is particularly significant since live dealer products have not been introduced yet and online poker competition is limited to within state borders.
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