Michigan’s online casino revenue continued its torrid pace since launch, leading the way to a $95.1 million month for the state’s internet gaming industry in March.
The revenue total was up 19.3% from February, the state’s first full month of numbers since online gambling launched Jan. 22. Michigan is already one of the leading US states for internet gaming revenue, as only five states have legal online casinos.
Michigan was third in March revenue. Fellow leaders New Jersey ($113.7 million) and Pennsylvania ($97.7 million) reported their figures last week.
BetMGM adds poker, leads internet gaming revenue
BetMGM led the 11 online casinos with $30.8 million of revenue, good for a 32.4% market share. The operator launched BetMGM Poker March 22, becoming the second online poker site statewide and buoying the state’s internet gaming leader.
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The poker and casino numbers are lumped together by the Michigan Gaming Control Board, which released the numbers Tuesday.
Through its first 69 days, internet gaming has raised $204.2 million in total revenue, far outpacing the take-home rate of online sports betting.
Internet gaming is also pumping more money into public coffers. March’s output raised $17.3 million in state tax revenue, bringing the two-plus month total to $35.6 million since launch. For the city of Detroit, $4.9 million was raised in taxes and municipal service fees in March, bringing that total to $10.5 million since Jan. 22.
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FanDuel second, DraftKings third in casino revenue
The other top operators for Michigan’s online casino revenue included FanDuel Casino, which was second with $18.9 million in revenue, good for a a 19.9% market share; and DraftKings Casino, which was third at $16.6 million and a 17.4% share.
BetRivers was fourth in revenue at $6.7 million, a 7.1% share. Stars Casino/PokerStars rounded out the top five with $5.8 million in revenue, a 6.1% share.
BetRivers has made a nice jump in market share since the Jan. 22 launch. In January, the Rush Street brand had 4.6% of internet gaming market share. That proportion rose to 5.4% in February and 7.0% in March.
When putting these numbers in a national context, the fact that Michigan is even in the conversation with more established states such as NJ and PA despite being in the market less than 90 days is a credit to the state’s immediate strength in the sector. This observation is especially important, considering live dealer products have not yet launched and online poker competition is fenced in state lines.