For the third straight month, record Michigan online casino revenue has blown away the month prior. In March, the state surpassed $200 million for the first time in a month, recorded the single-best month in history and was extremely close to setting the all-time best online casino month in the nation.
Specifically, the Michigan Gaming Control Board reported today that combined Michigan online casino revenue was $215.2 million in March.
And you thought February was a strong month.
March was up 15% from February’s $188 million, the previous record, and up 25% when compared to March of 2023 ($171.8 million), which was the third-highest revenue month of last year. The most recent numbers are also up 18% from January of 2024 ($181.8 million).
Also, Michigan’s $215.2 million March was just a smidge below the all-time record revenue month set by Pennsylvania in February 2024 ($215.3 million), with PA’s March numbers expected to drop any day now.
And, Michigan surpassed a major milestone in March. Lifetime online casino revenue has now surpassed $5 billion (to exactly $5,205,379,266).
Further, Michigan continues to show steady year-over-year growth.
Takeaway #1 FanDuel tops BetMGM for first time
If the total numbers weren’t jaw-dropping enough, March also will serve as a milestone for operators. That leads PlayMichigan’s takeaways from the numbers.
For the first time since online casinos launched in Michigan in January of 2021 — 39 months to be exact — BetMGM did not produce the most revenue.
In March, FanDuel MI online casino topped the state, taking in $57.6 million in revenue. BetMGM was second with $54.7 million followed by DraftKings at $40.4 million.
FanDuel has been trending up strongly in Michigan and it was only a matter of time before it surpassed the perennial leader.
Lifetime, though, BetMGM remains king in Michigan by a lot. It has revenue of $1.75 billion in Michigan, compared to $998 million for FanDuel.
That also means FanDuel will surpass $1 billion in Michigan revenue in April.
Takeaway #2: Michigan is on pace to smash $2 billion in 2024
Since each of the last three months has produced record online casino revenue, it should be no surprise Michigan is on a record pace in 2024.
Online casinos in Michigan set a record in 2023 with total revenue of $1.92 billion.
So far through the first three months of 2024, the state is averaging $195 million per month. At that pace, Michigan is on course to blow past $2 billion on the year to some $2.34 billion.
Takeaway #3: What it means that Michigan has surpassed $5 billion lifetime
What does it mean that Michigan has now exceeded $5 billion in lifetime online casino revenue? More money for services in Michigan.
Specifically, lifetime combined state and local tax revenue from online casinos alone has now topped $1.3 billion. And that is coming from a state with a relatively low tax rate of 25%.
As PlayMichigan reported recently, Michigan’s total gambling tax revenue is up 18.5% in just two years.
While both retail and online operators benefit from huge revenue totals, residents all across Michigan are also reaping the benefits. First responders and schools throughout Michigan are the major beneficiaries of gambling tax revenue.
Takeaway #4: All gambling sectors are firing in Michigan proving cannibalization isn’t an issue
The news of Michigan’s record online casino month comes just one week after the three Detroit casinos posted the best revenue month in more than four years.
In March, the Detroit casinos combined for $122.3 million in revenue from slots, table games and poker. Not since December of 2019 — 51 months ago — have the casinos had revenue this high.
Elsewhere, fears of online gambling negatively-impacting the bottom line of retail casinos is leading to lawmakers being hesitant to legalize online casinos in their states. But Michigan is a great example that both can flourish, driving important revenue back to the state and decreasing illegal gambling.
March 2024 online casino revenue by operator
| Licensee | Online Brand | Revenue | Promos | Taxes |
|---|---|---|---|---|
| MotorCity | FanDuel | $57,585,012 | $5,758,501 | $15,159,254 |
| MGM Grand Detroit | BetMGM | $54,678,061 | $4,637,114 | $14,636,977 |
| Bay Mills | DraftKings | $40,424,983 | $4,042,498 | $10,187,096 |
| Little River Band of Ottawa | BetRivers | $12,792,439 | $1,279,244 | $3,223,695 |
| Grand Traverse Band of Ottawa and Chippewa | Caesars | $11,280,475 | $1,128,048 | $2,842,680 |
| Keweenaw Bay | Golden Nugget | $7,736,540 | $773,654 | $1,914,947 |
| Greektown | Hollywood Casino | $5,247,717 | $524,772 | $1,300,103 |
| Pokagon Band of Potawatomi | Four Winds | $4,291,368 | $429,137 | $917,521 |
| Sagniaw Chippewa | Eagle | $4,195,056 | $419,506 | $854,232 |
| Sault Ste. Marie Tribe of Chippewa | WynnBet | $3,207,814 | $320,781 | $647,165 |
| Match-E-Be-Nash-She-Wish Band of Pottawatomi | Play Gun Lake | $3,197,828 | $319,783 | $633,170 |
| Lac Vieux Desert Band of Lake Superior Chippewa | Fanatics | $3,108,301 | $310,830 | $601,951 |
| Little Traverse Bay Bands of Odawa | PokerStars | $3,094,733 | $309,473 | $614,024 |
| Nottawaseppi Huron Band of Potawatomi | FireKeepers | $2,495,625 | $249,567 | $483,645 |
| Hannahville | SI | $1,817,824 | $181,782 | $335,180 |
| Total | $215,153,827 | $20,684,691 | $54,351,638 |
