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:
FanDuel | DraftKings | |
---|---|---|
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.
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.