Michigan’s online casino industry continues to grow at a rapid pace in 2023.
Following the release of the August revenue numbers release this week, Michigan online casinos are still outpacing 2022’s revenue by over 20%.
While it certainly looks good on paper, is Michigan keeping pace with other states with legalized online casinos?
Michigan online casinos near national average in 2023
With the updated revenue numbers from August, Michigan online casinos have now generated $1.24 billion in revenue through eight months of 2023.
That currently sits at 22.3% greater than it was through the first eight months of 2022, which was $1.01 billion.
Michigan’s growth rate this actually ranks fourth of the six online casino states, but is right with the national average, which sits at 23.1%.
Here’s how each of the six states’ online casino revenue is shaping up in 2023.
|State||2022 OC Revenue|
|2023 OC Revenue |
READ ABOUT ONLINE CASINOS IN MI:
Michigan online casinos tracking to pass New Jersey
While Michigan is slightly below the national average for revenue growth, there are still a lot of positives to consider from these gambling statistics.
Overall, Michigan is just slightly behind New Jersey in 2023 revenue. However, it is growing at a much more significant pace than the Garden State.
Michigan’s $225.9 million improvement in revenue this year is well ahead of New Jersey’s $158.6 million. Michigan’s increased population is probably helping play into that number, as New Jersey has the highest revenue average per capita between itself, Michigan and Pennsylvania.
Pennsylvania brings in the highest population, which helps it lead to the biggest overall revenue growth this year at $282.7 million. Collectively, the six states have added just under $800 million in revenue this year.
West Virginia and Connecticut have the largest percentage of growth this year compared to 2022, but also started with low 2022 revenue. Connecticut actually launched online casinos late in 2021, giving them a lot of room for growth in their second full year of operation.
Overall these online gambling statistics show that the online casino industry, in Michigan and across the country, are in strong standing.
With no sign of slowing down, one has to wonder where the plateau will be for online casinos? Will we still be seeing significant revenue growth a year from now? And will operators continue to pour resources into MI online casino bonuses?
Only time will tell.