Michigan’s online casinos had their best August ever and their third-best month overall. They made almost $197 million in gross revenue, according to the Michigan Gaming Control Board. This is an increase of almost 23% from the previous record set in August 2023.
Overall, this total is only behind March and May of 2024. In March 2024, Michigan casinos earned more than $215 million; in May, they made almost $199 million from players. With August’s numbers, total revenue hit over $6 billion. The $1.55 billion made in the first eight months of this year is almost 25% more than what was made in the same period last year.
Bet MGM Leads the Way in Michigan
BetMGM Casino led the Michigan market again in August, capturing nearly 28% of the adjusted gross revenue. FanDuel and DraftKings followed, as usual, with each holding more than 20% of the market share.
In August, Michigan’s online casino revenue topped $190 million for the fifth time in six months, with June being the only exception. This strong performance suggests that the current fiscal year is on track to break records in Michigan.
BetRivers and Caesars Palace Online Are Thriving
BetRivers and Caesars Palace Online continue to compete for the No. 4 spot in revenue among Michigan’s internet casinos, and both are having strong years:
- BetRivers broke the $13 million mark for the first time, with revenue jumping 24% from last August.
- Caesars Palace also hit a milestone, crossing $12 million for the first time with a $12.6 million haul, up 84% from last August. With $91 million in gross winnings this year, Caesars has already beaten its 2023 total of $87 million, with year-to-date revenue up 64%.
- Fanatics Casino missed setting a revenue record for the sixth month in a row, earning almost $4 million. However, August’s figure still ranked third out of its six full months of operations since launching in Michigan in late February.
Detroit’s three internet casinos combined for $105 million in gross revenue, up 32% from last August. Their tribal counterparts brought in $92 million, an increase of 26%, and they paid nearly $5 million to governing bodies.
Michigan’s Strong Numbers Not Surprising
Michigan’s strong online gaming numbers should not surprise you. A recent study shows that Michiganders are the biggest gamblers in the country, but they’re not hitting the casinos. The American Gaming Association, which represents U.S. casinos, reported that in 2023, Michigan topped the charts with $1.92 billion wagered on online poker, blackjack, and other casino games.
The iGaming industry grew 23% from 2022 to 2023, and that number may go up even more this year. Why? The study also concluded that Michigan has the largest online gambling market in America.
In the end, you can expect the trends we saw in August in the Great Lake State to become the norm going forward.
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