Fourth isn’t a bad place to be, but it seems pretty lonely for BetRivers.
The Michigan online casino operation for Little River Casino finds itself in a great spot when it comes to revenue.
It is firmly in fourth place amongst the 15 online operators. It’s well behind the big three, but comfortably ahead of the fifth-place contenders.
So, while it may not garner as much attention as the operators above it, BetRivers still has a solid foundation in Michigan.
BetRivers holding fourth spot by nearly $80 million
BetRivers may be looking up at a big mountain to climb to get to the top of Michigan’s online casino market, but it still can look down at most.
Over it’s lifetime, BetRivers Casino Michigan has generated $270.5 million in online casino revenue. That accounts for 6.3% of the market share in the state.
That may not sound like much, but it’s certainly not a bad place to be when it accounts for that much money.
BetRivers may never catch up to DraftKings Casino Michigan ($726 million) in the third spot, but it’s not likely to be caught by Golden Nugget Casino Michigan ($191.7 million) anytime soon either.
BetRivers hitting new peaks as 2023 winds down
Like its peers, BetRivers Michigan is building on its revenue in 2023.
Throughout the first 10 months of the year, BetRivers is sitting at $91.7 million in 2023 online casino revenue.
That is over $5 million ahead of where it sat last year at this point ($86.3 million).
It’s 2023 mark is right where it has been for its lifetime in Michigan, fourth-highest in revenue in the state.
While it’s year-to-year growth isn’t as strong as some of its top competitors, BetRivers should be encouraged by its most recent performances.
- August: $10.54 million
- September: $9.55 million
- October: $10.63 million
August marked the first time BetRivers crossed the $10-million mark for monthly revenue.
The September total was its third-highest mark at the time. It would then be pushed to fourth when BetRivers hit a new record in October.
The August-October total of $30.72 million is 16.2% greater than what it generated in those same months for 2022 ($26.44 million).
Where can BetRivers go in 2024?
With such a strong finish to this year, it seems BetRivers is on the right track heading into 2024.
Online casinos in Michigan have yet to hit a plateau, as revenue numbers continue to grow year-over-year.
The state is going to surpass $1.8 billion in yearly revenue. In fact, it could challenge for $1.9 billion when all is said and done.
BetRivers crossed the $100-million yearly revenue mark in 2022 at $104.3 million. This year, they are sizing up to push for over $110 million in revenue.
If it can find ways to add more games, innovative products and entice new customers with jackpot offerings and exclusive promotions, BetRivers should be able to maintain a $10 million+ monthly total.
While each year brings ups and downs, it’s fair to expect BetRivers Michigan to approach $120 million in online casino revenue in 2024.
