Setting a monthly online casino revenue record in 2023 isn’t anything new.
With Michigan online casinos surging this year, most online operators have seen record-setting numbers at some point in 2023.
In August, BetRivers Michigan flew past its previous record for monthly revenue.
BetRivers Michigan hits $10 million mark for first time
The previous record was March of 2022 at $9.7 million. That makes the most recent numbers 9% better than BetRivers’ previous best.
BetRivers Michigan has solidly been locked in as the fourth-strongest online casino in the state based on revenue.
In August, its $3.3 million lead on Golden Nugget Casino MI for the fourth spot in the revenue race was the largest margin BetRivers Michigan has had since March 2022 as well.
BetRivers doubles growth rate of 2023 in August
Coming into August, BetRivers had only seen 1.9% growth in revenue for the first seven months of 2023 compared to 2022.
The August record revenue helped bump up that total. Through eight months, BetRivers Michigan sits at $71.5 million this year.
That alone nearly matches the entire 2021 revenue total of $74.6 million.
Compared to 2022, BetRivers Casino MI is now up 3.8% from the first eight months of 2022. Last year at this time, BetRivers had amassed $68.8 million.
BetRivers Michigan not likely to catch Big 3 online casinos
BetRivers has found its home in the Michigan online casino hierarchy.
It has clearly established itself in fourth. With $250.3 million in lifetime online casino revenue in the state, BetRivers Michigan is clearly ahead of Golden Nugget Casino MI ($178.7 million) for that fourth spot.
However, it is also well behind the big three casinos in the state. DraftKings Casino MI is in third lifetime with $656.6 million in revenue.
That also is on display with the August revenue report. While having its all-time record last month, BetRivers was still far behind DraftKings ($28.2 million) for third.
BetRivers Michigan sits at 6.4% of the lifetime online casino revenue market share in the state. In August, BetRivers got 6.9% of the market share.
While BetRivers Michigan may not be moving up the overall leader into third place in the state, it still can shoot for that 7% market share, perhaps with a surge of smart spending and investment into MI online casino promos — although it may not want to spend its money that way.
As we’ve seen in this state, the difference between percentage points in Michigan’s online casino industry is millions of dollars.
The more consistently BetRivers Michigan can approach 7% of the share, it will be a big boost for business.