There was no question that 2023 was a very newsworthy year for Michigan gambling.
It may be tough for 2024 to match the last 12 months. However, there’s still plenty of newsworthy events on the horizon for the next year.
As we close out the final days of 2023, here’s four projections we expect to see in 2024.
Fanatics fully takes over PointsBet
When Fanatics purchased the US assets to PointsBet in May, it targeted being able to launch its products in Michigan before the end of 2023.
While that mark wasn’t successful, Fanatics has still left its imprint on PointsBet with its “Fanatics Experience” label.
At some point in 2024, likely earlier than later, Fanatics will secure its regulatory needs to fully launch its product in Michigan.
That should continue to boost the online casino revenue for the online partner of Northern Waters Casino.
Fanatics draws a large customer base already that it can tap into. It will also be offering 5% back in FanCash for every wager on its online sportsbook. It’s also possible that FanCash kick backs could apply to online casino play as well.
A new Michigan online sportsbook?
One of the questions left unanswered at the end of 2023 is what is Odawa Casinos doing with its open online sportsbook license?
On July 31 of this year, Flutter announced that it was shutting down Fox Bet Sportsbook across the country. That included Michigan.
That move left Odawa Casinos with just an online casino, PokerStars.
While Michigan online casino revenue far outpaces Michigan online sportsbook revenue, the lack of a sportsbook is a missed opportunity for Odawa Casinos.
Flutter already owns FanDuel, the online sportsbook for MotorCity Casino. So, that does cause some potential issues if Odawa Casinos is looking for a new partner while already maintaining a tie to Flutter with PokerStars operational.
However, there’s still some notable online sportsbook operators not in Michigan that probably would like to be. Operators like bet365, Circa Sports, Tipico and more could all be viable options with an established brand.
Perhaps PokerStars could even churn out a sportsbook option itself.
Either way, don’t be surprised to see Odawa Casinos not want to go a full year without having online sports betting revenue coming in. In 2022, Fox Bet Sportsbook still collected $2 million in revenue in Michigan.
More interstate poker options
It was Jan. 1 of 2023 that interstate poker play was finally available for Michigan online poker players.
PokerStars Michigan was the first to figure out the puzzle, combining player pools from Michigan and New Jersey.
As a result, PokerStars Michigan saw its traffic up 32% during 2023.
BetMGM Poker appears to be on the verge of joining the interstate poker field. The online operator recently announced plans to integrate shared liquidity onto its platform. BetMGM didn’t have a set date but said it would be the “near future.”
With two of Michigan’s top online poker operators being able to offer interstate play, WSOP Poker has to be feeling the pressure to do the same.
World Series of Poker prides itself on being the top name in poker, both online and retail. To continue to hold that title, it needs to give Michiganders an option of combined pools with other states.
Online casino revenue to hit $2 billion
Throughout 2023, we saw Michigan online casinos continue to thrive.
The revenue increases month-to-month were vast when compared to their counterpart from 2022.
Though the December total has not been announced, it appears as if Michigan’s 2023 online casino revenue should get to $1.9 billion.
The state hit some big monthly revenue marks in 2023, including a record-breaking $175.3 million in November. It is currently outpacing 2022 revenue by 21.9%.
While we can’t expect that pace to continue in 2024, a target of hitting $2 billion in yearly revenue certainly isn’t a stretch.
That would require Michigan to add another $100 million in revenue throughout the year, an average of just $8.3 million per month. In 2023, Michigan’s online casinos added at least $15 million in revenue per month compared to the same month in 2022.
The online casinos continue to evolve as well.
Dual play roulette was introduced in New Jersey through BetMGM this year and it’s likely to be coming to Michigan soon. Dual play games allow online casino players to compete virtually with retail players from the same table at a retail casino. It’s the latest advancement that will bring the retail casino to the online player.
With the continued efforts by online operators to build on their gaming library and add new features, don’t be surprised to see 2024 shoot well past the $2 billion milestone.
