Michigan’s Online Casinos Post Third Best Revenue Month Since Launch
The state’s 15 online casinos took in $196 million in revenue in August
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The Michigan online casino machine continued barreling along in August, with the operators having their third-best revenue month since online gaming was legalized in January 2021.
For the month, the 15 operators took in a combined $196.7 million. The only months that have ever topped that figure were March and May of this year, with $215.2 million and $198.6 million, respectively.
The operators paid $36.9 million in state taxes, and another $9.1 million in taxes to the city of Detroit.
The lion still roars
BetMGM continued to set the pace in Michigan, taking in $52.4 million in revenue. FanDuel — which toppled BetMGM for the first time in March, and held on to the top spot in April before falling back to No. 2 — remained in the silver position with a $48.3 million month.
DraftKings finished a strong third at $36.6 million.
BetRivers and Caesars were the only other eight-digit finishers, with $13 million in revenue for BetRivers and $12.6 million for Caesars.
Sixth place was Golden Nugget at $7.4 million, followed by ESPN BET at $4.3 million, Four Winds at $3.8 million, Fanatics at $3.7 million, Soaring Eagle at $3.4 million, PokerStars at $2.8 million, WynnBet at $2.7 million, betParx at $2.6 million, Firekeepers at $1.8 million, and SI at $809,054.
Year-to-date, the online casino operators have brought in over $1.5 billion in revenue with four months to go. For comparison’s sake, 2023 saw a total of $1.9 billion in revenue, with September, October, November, and December marking four of the five highest grossing months.
In other words, Michigan’s online casinos are on pace to easily break the $2 billion revenue number in 2024.
Sports betting booms
Meanwhile, on the sports betting front, the operators handled over $280 million in wagers in August, a year-over-year increase of $61.6 million.
FanDuel paced the field with a $101 million month.
If past years’ numbers hold for the remainder of 2024, this year Michigan online sports betting will exceed $5 billion in handle for the first time.
