In Michigan, BetMGM has been able to lead the path when it comes to the online casino industry.
However, in 2023 we are seeing FanDuel and DraftKings both make a push to closing the gap.
A recent national data report also supports that trend, as FanDuel and DraftKings were the most downloaded online casino apps over a 30-day span that concluded last month.
What do the numbers show and what does it mean for the online casinos in Michigan?
FanDuel leads online casino downloads
During a 30-day span from July 24-Aug. 22, Eilers & Krejcik Gaming, authors of The EKG Line newsletter, kept track of online casino downloads across major markets.
What the data showed is that FanDuel led the way, steadily averaging over 2,000 downloads a day before peaking with close to 4,000 late in August during the NFL preseason.
DraftKings was second to FanDuel, approaching about 2,000 a day consistently over the 30-day stretch.
BetMGM was third.
FanDuel held around 30% of the downloads throughout the 30-day stretch.
Newly-launched Caesars Palace Casino had 9% of the downloads, as it launched midway through the survey period.
FanDuel Casino MI leading in 2023 revenue growth
The national trends from the EKG research line up with what we are seeing in Michigan in terms of revenue growth from 2022 to 2023.
BetMGM Casino MI remains in the driver’s seat for overall revenue this year at $354.3 million through July.
However, FanDuel Casino MI has seen the biggest increase in revenue from 2022 to 2023. Through seven months of 2023, FanDuel is up $75.4 million in revenue ($213.2 million) compared to the first seven months of 2022 ($137.8 million).
DraftKings Casino MI is sitting second in that same category. DraftKings is up $60.5 million in revenue for this year ($195.6 million) compared to 2022 ($135.1 million).
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BetMGM still comfortably ahead in Michigan
While nationally, DraftKings has been able to overtake BetMGM for the top ranking in the US online casino market, that’s not the case here in Michigan.
BetMGM still holds nearly a third of the online casino revenue market share in the state for 2023.
The iGaming app is also still growing in revenue this year. It added $21.2 million in revenue through seven months this year compared to last.
When it comes to new downloads, this data shouldn’t worry BetMGM too much other than FanDuel is making a serious push to change the overall outlook.
BetMGM being behind FanDuel in DraftKings in new app downloads can be tied to the fact that users likely already have the app.
New downloads of the app speak to new business. With BetMGM already on top here in Michigan, they are focused on customer retention and sustained business.
It makes sense that in Michigan, you would see fewer BetMGM Michigan downloads and more FanDuel Casino MI downloads.
What will be interesting is to see if this increase in downloads for FanDuel and DraftKings will allow them both to continue to close the gap on BetMGM in Michigan online casino revenue.