The release earlier this week of the March 2022 online gaming revenue numbers showed the industry isn’t slowing down in the slightest.
Another record month of revenue for online casinos makes it clear the interest in online gaming continues to grow.
But, there are also a few other things to note about last month’s numbers as we look ahead to what April may bring.
Smashing previous record
It’s one thing to set a new revenue record for online casinos in a month. It’s another thing to do it the way March did.
After a new record of $122.8 million was set in February of 2022, March leapfrogged that number by nearly $9 million. The new mark sits at $131.7 million following March’s release.
It marked the fourth consecutive month online casino revenue surged past $120 million. It was also the seventh consecutive month with more than $100 million in revenue.
Drastic jump from 2021
The growth trend from a year ago continues as well with online casinos.
In 2021, March produced just $95.1 million in online casino revenue. While that was a record at the time, it was just the second full month of online casinos being legal in Michigan.
Here’s a comparison of online casino revenue from 2021 to 2022 thus far.
*Started Jan. 22
While the growth percentages are going down month-to-month thus far, keep in mind that Michigan online gamers didn’t have as many playing options when things began in late Jan. 2021.
More operators have been added in the past year, and more gaming options keep being added.
What impact will 15th operator have
April has seen the launch of a 15th online casino.
Soaring Eagle Casino went live with Eagle Casino & Sports on April 14.
While a phone app is not currently available, it still is another option for Michigan gamers.
Eagle Casino & Sports offers up quite a wide library of gaming options.
You can find more than 350 slots, 22 table games, eight video poker options, and 13 live dealer or first-person games. That immediately puts Soaring Eagle in the top half of the games count for the state compared to its competitors.
With sign-up bonuses available, it’s sure to draw some attention to Eagle Casino & Sports over the rest of April and into upcoming months.
BetMGM still king of the mountain
BetMGM Michigan continues its dominant reign in the state’s online casino battle.
With just under $48 million in revenue for March of 2022, MGM has now produced $555.7 million in all-time online gambling revenue in the state.
In each of the past seven months, BetMGM has posted at least $40 million in online casino revenue.
No competitor has reached $23 million for a month. Just FanDuel and DraftKings have ever crossed the $20 million mark.