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FanDuel Sportsbook MI has consistently outperformed its competition in the 21 months since online sports betting became legal in Michigan.
Nevertheless, when football season arrives, DraftKings Sportsbook MI seems to be surpassing its rivals with its impressive performance.
The argument was further fortified with the release of September’s 2022 revenue figures on Tuesday. This marked the first instance since January of last year where DraftKings emerged victorious in the online sports betting handle competition.
Does it indicate what will happen in the months ahead?
September Michigan sports betting revenue numbers
On Tuesday afternoon, the Michigan Gaming Control Board made public the online sports betting figures for September.
In terms of online handle, DraftKings emerged as the leader, generating a substantial amount of $108,153,540. This represented a significant market share of 30% for the given period.
With a total share of $106,336,489, FanDuel secured the second position, trailing behind the leader but still maintaining its status as the all-time handle leader.
FanDuel’s 8-month dominance in the online handle race was finally halted.
With a valuation of $1.72 billion, DraftKings still has a significant gap to bridge in order to reach FanDuel’s all-time valuation of $1.92 billion. Nevertheless, the figures for September suggest that DraftKings is poised for another successful football season.
DraftKings blitz during football season
The recently released September figures have further solidified DraftKings’ existing trend.
The NFL season has proven to be the most successful period for the online sportsbook.
| Month | DraftKings Handle | FanDuel Handle |
|---|---|---|
| September 2021 | $106,895,762 | $82,077,330 |
| October 2021 | $120,411,750 | $123,958,756 |
| November 2021 | $126,338,133 | $115,238,268 |
| December 2021 | $120,303,731 | $119,889,999 |
| January 2022 | $132,031,967 | $132,725,179 |
| September 2022 | $108,153,540 | $106,336,489 |
While FanDuel has achieved its own level of success, DraftKings has emerged as the leader in the online handle race for four out of the last six months during the football season.
DraftKings finished second in one of the two months, falling short by just under $700K.
Boost for DraftKings online casino
DraftKings has observed a surge in online casino activity, in addition to the growth in online sports betting, particularly during the NFL season.
DraftKings achieved a new milestone in September, as its online casino revenue reached an impressive amount of nearly $22 million.
During the NFL season, DraftKings has achieved a new online casino revenue high for the third time. Additionally, on two occasions, it has reached its second-highest mark for this period.
- As of September 2021, the amount of $15,471,967 ranks 17th in terms of all-time values and 5th at the time.
- In October 2021, the amount of $19,658,185 was recorded, ranking it as the sixth highest of all time and the highest at that particular time.
- As of November 2021, the amount of $16,833,955 ranks 12th in terms of all-time figures and was the second-highest at that given time.
- As of December 2021, the amount of $20,104,036 was achieved, ranking it as the fourth highest of all time and the highest during that period.
- As of January 2022, the amount of $20,095,684 ranks fifth on the all-time list and was the second highest at that specific time.
- In September 2022, the amount of $21,882,057 was recorded, establishing a new milestone as the highest ever achieved, and also holding the top position at that specific moment.
Why DraftKings thrives during football season?
Why is DraftKings having such a successful football season when the numbers themselves clearly demonstrate it?
During the season, DraftKings successfully leveraged cross promotion across three platforms to their advantage.
DraftKings had taken the lead in the Daily Fantasy game in Michigan before the emergence of online sports betting and online casinos.
DraftKings outperformed FanDuel in 2020, generating $9.7 million in DFS revenue compared to FanDuel’s $6.3 million.
Despite the decline of DFS following the introduction of online sports betting, DraftKings continues to dominate the Michigan market, generating almost twice the revenue of FanDuel in 2022.
Users of DraftKings were able to seamlessly transition to the brand name, as their DFS accounts were conveniently connectable to DraftKings’ online sportsbook and casino.
DraftKings stands out among other online operators in the state by providing a wide range of NFL wagers that cater to all preferences. Whether it’s live or pregame bets, DraftKings has got you covered with an extensive selection.
DK is always ready to provide promos during the NFL season as well. Each NFL Sunday, they offer odds boosts, parlay boosts, and insurance on wagers as a regular feature.
DraftKings has also offered crossover promotions to attract sports bettors to their online casino application. These promotions often include free bets or casino dollars as rewards for spending a certain amount at the casino or placing a certain number of wagers throughout the season.
