This week, Rush Street Interactive, the parent company of BetRivers, shared encouraging financial results from its fourth quarter of 2022.
RSI announced during its Q4 earnings call that it had generated $166 million in revenue for the final quarter of 2022, marking a significant 27% increase compared to the previous year.
In addition to a robust fourth quarter, RSI achieved a 21% year-on-year growth in cumulative revenue for 2022. The total revenue for the year amounted to $592 million.
BetRivers Michigan online casino revenue a big asset for Rush Street
With a total revenue of $187.4 million, BetRivers Casino MI secures the fourth position in Michigan’s all-time online casino revenue rankings.
BetMGM firmly holds the fourth position as the leading operator with a staggering $1.1 billion, while both FanDuel and DraftKings are closing in on $500 million, making it a promising landing spot.
BetRivers generated $8.6 million in online casino revenue in Michigan during January, extending its streak of at least $8 million in monthly online casino revenue for the seventh consecutive month.
RSI, along with other iGaming operators nationwide, undoubtedly benefits significantly from the substantial boost in online casino revenue.
According to RSI reports, the online gaming revenue of the company is predominantly contributed by Michigan, New Jersey, Pennsylvania, and West Virginia, accounting for a total of 74.6%. It is noteworthy that all four states have legalized online casinos.
The online casino of BetRivers is successfully attracting a female audience, constituting 53% of its demographic, unlike its online sports betting platform where males make up 83% of the demographic.
Player retention a focus for RSI
During their Q4 call, RSI emphasized that although customer acquisition is crucial for growth, player retention holds the key to profitability.
They are of the opinion that the key to retaining players lies in providing consistent opportunities for promotion, which also includes regular promotions centered around holidays.
RushArena, a multi-player platform, has been instrumental in driving the success of BetRivers Casino, particularly in hosting Rush Race slot tournaments.
Each day, Rush Race slot tournaments take place at noon, 6 p.m., and 10 p.m., with a duration of 5 minutes.
Football Squares promo leads to Basketball Squares at BetRivers
The basketball squares promotion at BetRivers Sportsbook MI is something that customers can’t miss. It was introduced during the football season and turned out to be incredibly successful.
To acquire basketball squares, you can obtain them by performing the following actions:
In order to obtain a square, simply place a $20 wager on any game featuring the squares icon.
By placing a bet of $50 or higher, you will receive a bonus square.
Place a wager of $100 or higher and receive a third and ultimate square.
When playing with BetRivers, a square will be randomly assigned to you for the game, with a number assigned to both the away team and the home team. If the last digit of each team’s final score matches the numbers assigned to you, you will be declared the winner.
If you are able to win a square, you will receive a bonus of $20. Additionally, by placing $20 or more in live bets on the same game, your square payout can be boosted all the way up to $10,000.
Record-setting January for BetRivers Sportsbook MI
In January, BetRivers Sportsbook MI achieved a remarkable feat in the state by setting a new record with an online handle of $11.14 million.
BetRivers achieved a new record for monthly handle for the third month in a row.
BetRivers in Michigan set a new monthly record with $643,116 in sportsbook revenue, in addition to their impressive handle record.
BetRivers has accumulated approximately $134.4 million in wagers and generated slightly less than $8 million in revenue since the commencement of online sports betting in Michigan.
