Michigan online casino revenue for 2022 passed the $1 billion mark in August, as MichiganSharp predicted. Last year, that gross gaming revenue (GGR) didn’t reach $1 billion until December.
Last month, MichiganSharp expected year-to-date state GGR to pass $1 billion on or around Aug. 29.
Reaching that benchmark during August puts Michigan on par with the most lucrative online casino market in the country, New Jersey. The Garden State’s GGR also beat the billion-dollar total, but by slightly more than Michigan.
Drilling down to the monthly receipts, Pennsylvania saw more GGR than Michigan and New Jersey during August, which was a shift from its No. 3 spot in July.
August GGR in the top US online casino states was:
- $131.7 million in Pennsylvania
- $131.4 million in New Jersey
- $130.9 million in Michigan
Michigan Online Casino Revenue – August 2022
During the first eight months of 2022, Michigan operators generated $1,014,562,893 billion in online casino GGR, according to numbers released today by the Michigan Gaming Control Board (MGCB).
That includes August’s nearly $131 million in online casino GGR, representing a 3.4% increase over July’s $127 million.
That’s even with the disruption of what was then the pending loss of Michigan’s 15th online casino operator. On Sept. 6, TwinSpires Sportsbook and Casino ceased operations in the Wolverine State.
On Sept. 7, the license holder added back in a new online sports betting partner, SI Sportsbook.
However, September revenues will reflect that the Hannahville Indian Community hasn’t yet relaunched online casino operations.
With this pace of GGR growth, MichiganSharp believes Michigan’s 2022 online casino GGR will surpass $1.6 billion. That’s a 45% increase, or $500,000 more than 2021’s GGR of $1.1 billion.
Michigan Online Gambling Operators Tend to Stay
Even with the exit of TwinSpires, which is shutting down its online casino and sports betting operations across the nation, Michigan online gambling operators tend to stay.
Most of the current 14 Michigan online casino operators set up shop on Launch Day, Jan. 22, 2021.
For instance, BetMGM launched on Day One. It’s been the top revenue-generating Michigan online casino since that day, bringing in $49 million during August.
DraftKings Casino and FanDuel Casino also launched on Jan. 22, 2021, but tend to trade being No. 2 and No. 3 online casino operators.
During August, DraftKings was in second place with nearly $19.4 million, beating FanDuel’s more than $19.3 million by $33,407. In June, FanDuel was No. 2 with $18.5 million vs. DraftKings’ $17.9 million.
However, Michigan online casinos see the most movement among the smaller operators.
TwinSpires was the first to exit, but the state only achieved its full quota of 15 operators in April 2022. That’s because Soaring Eagle Gaming (SEG) took that long to launch its self-named online casino and sports betting site.
While not the smallest online casino operator in Michigan, SEG only saw $2.8 million GGR during August.
Unsurprisingly, TwinSpires saw the least Michigan online casino revenue during August, at $529,188. What was a bit of a shock, though, was that the online casino’s waning days beat the July GGR of $398,574 by $130,614.
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