It’s been an easy statement to say that Michigan online casinos are thriving in 2023.
Overall revenue from the 15 online operators is up over 23% through seven months compared to 2022.
That boost has put Michigan near $1.1 billion in revenue for the year thus far.
But, what does that mean in smaller time increments? How much are Michigan online casinos making each day? Each minute?
Online casinos in Michigan over $5 million each day
The monthly Michigan online casino revenue reports have given us an indicator each month of how the industry is doing.
We continually see monthly reports over $150 million, which is a big number. But when digging deeper into the Michigan gambling statistics, we see what those numbers mean in more relative measurements.
Here’s a look at what Michigan online casinos are averaging in revenue thus far in 2023:
| Time Frame | 2023 Revenue Average |
|---|---|
| 2023 (7 Months) | $1,088,206,223 |
| By Month | $155,458,032 |
| By Day | $5,133,048 |
| By Hour | $213,877 |
| By Minute | $3,565 |
| By Second | $59.42 |
Currently all Michigan online casinos are bringing in a collective $5.1 million per day in 2023.
Breaking it down even further shows us they are making over $200,000 per hour and over $3,500 per minute.
BetMGM Michigan averaging nearly $1.7 million per day
In Michigan, BetMGM has been the dominant online casino operator.
Over the lifetime of Michigan online casinos, BetMGM has 36% of the revenue market share at $1.36 billion.
Through seven months of 2023, BetMGM Michigan has recorded its highest revenue total yet at this point in a year.
BetMGM Michigan has $354.3 million in revenue this year. To be exact, it’s $354,343,389.
Here’s how that breaks down for the state’s leading operator.
- Per Month: $50,620,484
- Per Day: $1,671,431
- Per Hour: $69,643
- Per Minute: $1,161
- Per Second: $19.34
What’s impressive is that BetMGM Michigan is able to bring in over $1.6 million in revenue per day.
Only FanDuel Casino MI has been able to also make over $1 million per day, averaging $1,005,618 per day for 2023.
Lowest online casinos still bringing in nearly $50K each day
It’s easy to highlight the powerhouse operators and marvel at their revenue production.
However, even the smallest operators in the state record some respectable daily revenue.
The lowest revenue producers in 2023 are SI Casino MI ($8.3 million), PointsBet Casino MI ($9.8 million) and FireKeepers iCasino ($11.7 million).
Sports Illustrated launched its online casino on Feb. 7, so it has only been available for 175 days in 2023. Still, here is the average daily revenue for all three operators this year.
- PointsBet: $45,998
- Sports Illustrated: $47,267
- FireKeepers: $55,136
Can Michigan online casinos keep growing?
The questions for the remainder of 2023 is will Michigan online casinos continue a 23.2% growth rate from 2022?
Last year, the online casino industry in the state really started this revenue explosion over the final quarter.
The $439.2 million for Q4 of 2022 was Michigan’s largest quarter by over $50 million at the time. One would expect the 2023 revenue growth to drop to a smaller percentage come the final quarter.
Still, Michigan is on pace for a record year that could range from $1.85-2 billion in revenue.
Should the state manage to get to that $2 billion milestone, that would be an average of $5,479,452 per day.
No matter what, Michigan’s daily online casino revenue production has to be appealing for other states that are considering legalizing iGaming.
All of this revenue has led Michigan to surpass $1 billion in lifetime tax revenue for the state in August.
