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The online gaming revenue numbers for March 2022, released earlier this week, indicate that the industry continues to thrive without any signs of slowing down.
The consistently increasing revenue achieved by online casinos in yet another month indicates a clear surge in the popularity of online gaming.
However, it is important to consider a few additional factors regarding the numbers from last month as we anticipate what April might hold.
Smashing previous record
March not only set a new revenue record for online casinos in a month, but it did so in an exceptional manner.
March’s release surpassed the previous record of $122.8 million set in February 2022 by nearly $9 million, resulting in a new milestone of $131.7 million.
Online casino revenue has exceeded $120 million for the fourth consecutive month, marking a significant achievement. Moreover, this remarkable streak extends to the seventh consecutive month with revenue surpassing $100 million.
Drastic jump from 2021
Online casinos are experiencing a consistent growth trend that has carried over from the previous year.
March 2021 witnessed a groundbreaking achievement in the online casino industry, generating a remarkable $95.1 million in revenue. This feat was particularly noteworthy as it occurred during only the second month of legalized online casinos in Michigan.
So far, here is a comparison of the online casino revenue between 2021 and 2022.
| Online Casino Revenue Comparison |
2021 | 2022 | Growth |
|---|---|---|---|
| January | $29,354,295 *Started Jan. 22 |
$121,243,501 | 313% |
| February | $79,729,343 | $122,775,924 | 54% |
| March | $95,081,592 | $131,673,653 | 38% |
| YTD Total | $204,165,230 | $375,693,079 | 84% |
Although the growth percentages have been decreasing on a monthly basis, it is important to consider that Michigan online gamers had limited playing options when activities started in late January 2021.
In the previous year, additional operators have been introduced, and an ongoing influx of gaming options continues to expand.
What impact will 15th operator have
In April, the unveiling of an additional online casino marked the 15th of its kind.
On April 14, Eagle Casino & Sports was launched by Soaring Eagle Casino.
Despite the absence of a phone app at the moment, Michigan gamers can still consider it as an alternative option.
Eagle Casino & Sports provides an extensive range of gaming choices in its vast library.
Soaring Eagle stands out among its competitors in terms of game count, offering over 350 slots, 22 table games, eight video poker options, and 13 live dealer or first-person games. This places it in the top half of the state’s gaming options.
Throughout April and in the months ahead, the availability of sign-up bonuses at Eagle Casino & Sports is bound to capture significant attention.
BetMGM still king of the mountain
BetMGM Michigan maintains its strong position as the leading contender in the online casino competition within the state.
In March 2022, MGM generated approximately $48 million in revenue, contributing to a grand total of $555.7 million in online gambling revenue earned in the state thus far.
Its nearest competitors, DraftKings Casino MI and FanDuel Casino MI, fall far behind with $245.5 million and $244.3 million respectively, making it more than double their figures.
BetMGM has consistently generated a minimum of $40 million in online casino revenue for the past seven months.
For an entire month, no other competitor has managed to achieve a staggering $23 million. Only FanDuel and DraftKings have successfully surpassed the $20 million milestone.
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