Michigan Online Casinos Are Likely to Outperform New Jersey Casinos Soon

New Jersey’s online casinos have been generating more revenue than those from Michigan for a long time. But things might start changing soon as Pennsylvania outperformed New Jersey recently.

Michigan Online Casinos Haven’t Yet Matched Those in New Jersey

The first half of this year’s revenue figures indicated that the Wolverine State is fast catching up with New Jersey. The two state’s gaming operators generated less gross gaming revenue (GGR) from their online casinos. New Jersey’s casinos earned $814.5 million during this period while those from Michigan made $681.7 million.

The almost $133 million online gaming revenue gap between the two states indicates that New Jersey casinos are still performing well. The state is focusing on increasing its revenue. Yet, there will be a reason for concern if it solely concentrates on being the second highest lucrative market for the United States casino industry.

Is Michigan Online Casinos’ Growth Important?

The $681.7 million shows that Michigan casinos have a steady annual growth. The state launched online gaming on January 22, 2021, and it earned $435.6 million in revenue until June 30, 2021.

Its local gaming market has attracted more gaming operators of late. Statistics show that they generated $246 million more revenue, which is a 36.2 percent increase in 2022 compared to 2021.

New Jersey online casinos generated $634.2 million in GGR in the first half of 2021 and generated $180 million more or a 22.2 percent increase in the first half of 2022. So, Michigan casinos’ growth rate appears to be higher than that of New Jersey casinos.
Will Michigan Online Casinos Outgrow New Jersey Casinos in the Future?

Michigan online casinos have operated for less than two years while New Jersey operators have immense experience in the gaming industry. Also, they offer players more gaming options.

The Garden State has a slower gaming growth rate, unlike the Wolverine State. The U.S. Census Bureau released an estimate in July 2021 showing that Michigan had almost 10 million residents and 78 percent of them were 18 years and above. Thus, the state has about 8 million potential players.

The Bureau predicted that New Jersey has about 9.2 million residents and 78 percent of them are adults. So, Michigan has a larger potential player base, unlike New Jersey.

Some Factors Might Change the Current Trend

The highlighted estimates are an indication of the current situation in both states. But, the figures don’t consider the number of adults from either state who are active online casino players. Also, it assumes that Michigan’s growth will be steady while New Jersey’s might stagnate after some time.

Novibet Plans to Venture into New Jersey’s Gaming Market Next Year

Novibet recently signed a new deal with Caesars Entertainment that will allow it to offer online gaming and sports gambling in New Jersey for a decade. It resembles the one it made a few weeks ago to provide online betting in Pennsylvania.

The two agreements are subject to the company getting the state’s gaming authorities’ approvals and licenses by December. Novibet is also eyeing Ontario’s iGaming and sports gambling markets.

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