July Sees Michigan Online Casino Revenue Take Massive Positive Leap

The online casino market is most definitely alive and well in the state of Michigan. In the latest set of numbers, covering July 2024, the online casinos in the region made a whopping $191.4 million in revenue, which was a marked improvement in June, where a decline was reported.

The figure for July is the fourth-highest ever reported in Michigan and is a 4.5% increase on the previous month. In March, the state’s iGaming industry broke the $200 million barrier, raking in $215.2 million, which remains the highest figure to date.

The physical casinos, the three situated in Detroit, made $105.9 million in the month, which represents a fall on the same period in 2023 but a slight bump of 1.7% when compared to June 2024.

When it comes to Michigan online casinos, ten of the 15 in operation experienced an uptick in their revenues for the month, with the MGM Grand Detroit seeing the biggest numbers, racking up over $50 million in gross revenue for July 2024, while Bay Mills Indian Community (DraftKings) seeing the biggest increase, securing revenue of $37.1 million, a 14.1% jump on June numbers.

FanDuel saw a revenue increase of 54.1% on July 2023 and came close to their big rivals BetMGM in gross revenue. Hollywood Casino also experienced an increase and DraftKings made $37.1 million, their third highest numbers of 2024. Fanatics Casino, though a small player in the market, was the only brand to hit their highest ever, clearing $4 million for the month, having entered the Wolverine State in February.

BetRivers and Caesars Palace also did well, and the state of business, as a whole, in Michigan is very impressive, especially after something of a solid, if not spectacular, June 2024.

Sports betting in the state brought in $29.4 million for July, a little down on June’s numbers, though a 5.2% increase year on year. The digital handle for July was just over a quarter of a billion, at $250.2 million, a big increase on the $200.8 million for July 2023.

DraftKings has introduced Electric Poker in the Michigan online poker market. Six states have legalized online poker across the United States, with Michigan passing the relevant legislation in 2021.

Electric Poker will battle the likes of PokerStars, WSOP (World Series of Poker) and BetMGM, and one big advantage that DraftKings product has over those three is that players can enjoy the game within their DraftKings online casino app, while the three aforementioned brands require users to download a different app in order to play.

Interestingly, DraftKings chose to launch Electric Poker in Michigan, over the many other states where they offer fantasy sports and online sports betting and casino services. That decision is less surprising when you consider the state is the most successful in terms of the poker market.

One slight drawback to DraftKings product is that it only offers one type of poker game, though it is a service that will appeal to casual players, with the highest stake set at $25, which conversely may not appeal to high-rollers.