iGaming Operators in Michigan Generate $183 Million in Income for June
The Michigan iGaming market continues to thrive, recently surpassing the billion-dollar mark after six months in 2024. This impressive feat makes it one of the most profitable markets in the nation.
According to a report by veteran gaming industry reporter and editor, Larry Henry, the online casino brand currently leading the pack in Michigan is FanDuel Casino. In June, FanDuel Casino generated $45.6 million in revenue, narrowly trailing BetMGM Casino, which reported $47.9 million. The gap between the two operators is relatively small, suggesting competition remains fierce.
BetMGM remains the most visited online casino in Michigan, but FanDuel Casino overtook BetMGM Casino in March and April, marking a significant shift in the market. This is the first time since its launch in 2021 that Michigan's iGaming market will generate $1.16 billion in the first half of the year.
Despite BetMGM's lead, FanDuel Casino's success is noteworthy. A Michigan player recently won $153,000 with a 60-cent bet on FanDuel Casino, highlighting its prominence in the market.
Meanwhile, DraftKings Casino became the third operator in Michigan to achieve a lifetime revenue of over a billion dollars in June. BetRivers Casino is still the fourth-best operator, taking in $12.2 million in wagers last month. Caesars Palace did not manage to budge from the fifth position in the market in June.
The State of Michigan collected $34.4 million in iGaming taxes and fees in an unspecified time period. The Michigan Gaming Control Board published revenue data for June, showing that licensed operators generated $183 million in bets. Golden Nugget Online Casino generated $8.66 million in June, close to its record of $8.7 million.
The Michigan iGaming market is projected to average $193.3 million monthly in 2024. Pennsylvania is currently the only market outperforming Michigan, but higher growth is expected with Caesars Entertainment introducing a new online casino brand by the end of the year. If the trend continues, a $2 billion yearly revenue is on the horizon for Michigan's iGaming market.
While Michigan's iGaming market is already one of the most profitable in the United States, it continues to grow. With fierce competition among the top operators and the entry of new brands, the future of Michigan's iGaming market looks promising.
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