The online casino market in Michigan has marked a significant milestone after generating over $100 in revenue for September. The Michigan Gaming Control Board reported the statistics this week, nine months since online casino gaming was launched in the state.
Hitting the nine-figure mark does not come as a surprise for those who follow the Michigan casino market. For starters, Michigan generated $97.2 million in August. In fact, the state has generated over $90 million each month for six months since its launch.
Ideally, Michigan generated $102.4 million in casino revenue, a 5 percent increase over August. It was the third month the state saw an increase in revenue collection.
BetMGM MI Casino continued to dominate the market with a 40 percent share. DraftKings and FanDuel followed suit as they continued to grow month after another.
The increase in revenue generation may have been the result of a busy sports season. As the market enters the winter period, Michigan expects to see the market grow further.
BetMGM MI Casino Led the Market
In Michigan, the casino market can be divided into several tiers depending on operators. Seventy percent of the market is shared among the top three operators, with BetMGM taking the largest share.
The operator generated $40 million in September, an amount that no other operator has generated in the past. This shows the dominance the company has in Michigan.
DraftKings Casino MI took second place with about $100k more than FanDuel Casino MI. while DraftKings generated approximately 15.4 million in September, FanDuel collected slightly over $15.3 million. In August, FanDuel had performed better than DraftKings with over $14 million, almost two million more than the latter brand’s.
Other brands contributed to the rest of the amount. With only 30 percent of the market remaining, other brands only have a slice of the pie.
Rush Street generated over $6 million, followed by Golden Nuggets with slightly over $4 million. Others include Fox Bet, William Hill, Barstool, TwinSpires, PointsBet, Wynn, Parx Interactive, Pala Interactive, and Firekeepers Casino.
NFL Season Contributes to Market Surge
The generation of over $100 million in September coincided with the start of the National Football League season. As a popular sport, it is understandable why the NFL had a huge impact on revenue generation. But, the sports betting traffic on the online casinos would have also led to players going to the casino side.
Ideally, sports-related casinos, including DraftKings and Barstool, witnessed improvement in revenue collection. Yet, FanDuel seemed to maintain its position even though it is a sports-related casino. As the NFL season continues and other leagues such as the National Hockey League begin, the revenue growth might continue.
Live dealer casino games were also introduced in the Michigan market. Most operators rolled out these games at the end of July into August. Although the Michigan gambling commission board cannot provide live dealer games statistics, these forms of games are popular and could have contributed to the growth of the market.
Michigan is marking a crucial milestone by reaching a nine-figure mark a year since the legalization of online casino gaming. Moreover, it looks promising for the state as it enters the peak of the winter season.
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