Michigan online casinos had their streak of record revenue months snapped in February. But that doesn’t mean their incredible growth stalled. Quite the opposite, actually.
February was not only on a record-breaking pace, but if it had the luxury of three extra days like December and January, it would have cleared $160 million and become one of the two biggest revenue months ever for an online casino state.
Nearly $5.3 million in revenue was collected per day by Michigan online casinos in February, for a total of $148.2 million. Had it been a leap year, it would have broken January’s record of $153.7 million. With 31 days, it would have come in at $164 million.
Michigan online casino revenue in February was on record smashing pace
Online casinos in Michigan won’t be complaining to the Romans about calendar building, as monthly records are largely superficial. The money is coming in either way.
But still, the press release would have been nice.
The $160 million mark has been crossed just three times nationally, and it’s happened each of the past three months in Pennsylvania. The national record is $166.9 million, which the Keystone State set in December.
It’s the only month on record higher than Michigan’s hypothetical February. Of course, Pennsylvania’s hypothetical February would have been an eye-watering $179.7 million.
Michigan’s $5.3 million in revenue per day in February was quite a jump from the previous three months, which ranged from $4.8 to $4.95 million.
The consistent growth in daily revenue for Michigan online casinos is another, probably better, indicator that the industry is strapped to a rocket.
One other milestone the calendar robbed us of: An extra day in February would have had Michigan online casinos officially pass $3 billion in lifetime revenue.
The official reported number is currently $2,998,317,099.
March revenue could clear $160 million
The current trajectory of Michigan online casinos, combined with the calendar, tell us that March could clear $160 million.
If the average daily growth of the past five months continues, revenue would land around $5.5 million per day. That would put March’s monthly revenue at $170.5 million, a national record.
That’s probably an ambitious, unrealistic number. February 2022 did have a higher daily revenue than March 2022.
Michigan online casinos seem to be a very different place than a year ago, though. The average daily revenue for February 2022 was $4.4 million, 20% lower than this past month.
The combination of current trends and more people using Michigan sportsbook apps — which are connected to their online casino counterparts — for March Madness betting should keep the daily average steady.
That will make $160 million very attainable.