Last Updated on March 17, 2021
Online casinos have grown in popularity recently, for many reasons. States have begun to expand legislation to allow for legal online casinos in some states, and with the COVID-19 pandemic causing many to stay home and wager from their own phones or computers. The online casino boom headed to Michigan in early 2021, and the first month of offerings is in the books. The numbers were staggering, and BetMGM Casino Michigan topped the charts with the highest handle in the state.
Michigan Online Casino Leader? BetMGM Dominates
After one month of business, BetMGM Online Casino Michigan leads with total money brought in. As an online casino, BetMGM Michigan brought in just under $27M in gross receipts in February. That is just under the next two (FD and DK), combined. BetMGM is certainly the leader in the online casino space in Michigan for now, but will it hold onto that crown?
Here’s the list of the leaders in Michigan online casinos for February.
- BetMGM Casino Michigan – $26.9M
- FanDuel Casino Michigan – $16.6M
- DraftKings Casino Michigan – $14.5M
After the big three, PokerStars, Barstool, BetRivers, WynnBet, Golden Nugget, TwinSpires, William Hill, and a casino called Four Winds followed. The big three certainly carried the most weight, but with many players in the state that will certainly grow rather quickly.
Online Casino Revenue Skyrockets in Michigan
As a state, Michigan performed very well in the first order of business. As Steve Ruddock tweeted, Michigan brought in $80M in revenue compared to $9.3M in sports betting for the state as a whole in February.
Broken record warning: Michigan online gambling revenue in February: Online casino/poker = $80 million. Sports betting = $9.3 million. TAX REVENUE: Online casino/poker = $14 million. Sports betting = $200k.
— Steve Ruddock (@SteveRuddock) March 16, 2021
Given that February was the first month for the state to have online casinos, this is a huge number. Many potential customers in the state still have not joined, and may not even be aware of the online casinos in the states but the revenue closed in on $100M. On this $80M, it brought in $14M in tax revenue for the state of Michigan, compared to $200K for sports betting.
For a full look at Michigan’s numbers, check out the Michigan Gaming Control Board’s report for February.
New Jersey and Michigan Lead Online Casino Boom
There is a long way to go for the state of Michigan to catch New Jersey in terms of online casinos, but not in the revenue department. As John Brennan mentions below, NJ online casino revenue was $94.8M, which was down for New Jersey, but still a massive number. As for total casino revenue, there was only $14M more in New Jersey than Michigan for the month of January.
NJ online casino revenue was $93.8M, down from Jan record # of $103.8M – but 5th straight of $90M+ after 7 previous months having been in the $80Ms range https://t.co/A9oI0tyaaf
— John Brennan (@BergenBrennan) March 16, 2021
This speaks volumes to how popular online casinos are, and will be in the state of Michigan. Considering they are already close as a state to New Jersey in terms of total revenue, and Barstool Casino (among others) have not caught up to their likely full share of the market.
Tracking how Michigan does in February will be huge going forward, as there is a real chance they will exceed New Jersey in total revenue rather quickly for online casinos.
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