FanDuel Online Casino Distances From DraftKings, Inches Closer To BetMGM

Written By Corey Sharp on March 28, 2024
Cartoon of a businesswoman digging a tunnel with a pick axe and getting closer to a diamond that has the Michigan logo on it and the words

The big three online casinos in Michigan, without a doubt, are BetMGM, FanDuel and DraftKings. Second and third place within the state is beginning to be solidified. However, the top spot, in terms of revenue, might be up for grabs.

FanDuel separated itself from DraftKings quite a bit last month, and finished the closest it ever has to BetMGM. It’s possible a changing of the guard could be coming amongst these Michigan online casinos.

FanDuel making headway in Great Lakes State online casino market

In the midst of setting a state record, producing $188 million in February revenue, the pecking order of the top three operators in Michigan is starting to solidify.

BetMGM, FanDuel and DraftKings are the unquestioned market leaders in the Great Lakes State.

February’s results showed that the FanDuel MI online casino appears to be pulling away from DraftKings, claiming the second spot in the state. FD generated $48.4 million in revenue last month, compared to DraftKings’ $36.9 million. It’s the largest disparity of revenue since the two operators launched in Michigan.

Over the last several months, DraftKings remained in striking distance with FanDuel. DK even finished ahead of FD in September 2023 with the following results:

  • BetMGM: $48.6 million
  • DraftKings: $37.1 million
  • FanDuel: $35.2 million

Ever since then, FanDuel has methodically separated itself from DraftKings, according to this chart and table:

bar chart showing Michigan online casino market share - FanDuel vcs. DraftKings Sept. 2023 to Feb. 2024

October$37 million$32.4 million
November$43.9 million$34.7 million
December$42.9 million$36.5 million
January$42.9 million$36.3 million
February$48.4 million$36.9 million

While FanDuel is starting to put DraftKings in the rear view, it’s approaching the bumper of BetMGM.

FD closing in on BetMGM’s online casino crown in Great Lakes State

It wasn’t that long ago when BetMGM led the pack by a comfortable margin. The first 10 months of 2022, BetMGM earned 37.5% of the online casino market share. However, that dipped to 31.4% through the first 10 months of last year.

Market share declined even more in February for BetMGM, managing just 26.8%, after producing $50.3 million.

While BetMGM’s market share is decreasing, FanDuel’s is increasing. Through the same time periods in 2022 and 2023, FD raised market share percentage from 15.8% to 20.3%.

After a strong February, FanDuel acquired 25.7% of market share in Michigan, nearing a dead-heat with its counterpart.

bar chart showing Michigan online casino market share - FanDuel vs. BetMGM Sept. 2023 to Feb. 2024

FanDuel has stepped up its online slot presence, partnering with Bragg Gaming last August. It also added an exclusive Fort Knox Cleopatra slot title to its library just a month later.

The improvements FanDuel has made in the market has not gone unnoticed. It might be a matter of when, and not if, it catches BetMGM for the online casino throne in Michigan.

Photo by PlayMichigan
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Corey Sharp

Corey Sharp joined Catena Media in 2022 and is the go-to expert for Michigan gambling. Born and raised in Philadelphia, PA, he previously worked for the Philadelphia Inquirer and NBC Sports Philadelphia as a sports journalist and content producer. In Corey’s role as Lead Writer for PlayMichigan, he works alongside a talented team of expert journalists and analysts to bring you the most comprehensive and accurate coverage of gambling news in Michigan. Corey’s contacts around the industry makes him a trusted source. Corey produces daily stories and features about the gambling space. Corey graduated from Holy Family University in Philadelphia with a bachelor’s degree in sports management.

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