Michigan achieves record month for online gaming in September
Great Lakes State now vying for the lead with New Jersey as GGR surpasses $100m milestone for the first time
Kick-off to the NFL season looks to have been the catalyst for Michigan hitting new highs for igaming revenue in September, according to state numbers.
Michigan Gaming Control Board’s monthly update revealed that online gross gaming revenue (GGR) among the state’s 14 internet gaming operators was $102.4m, the first time it has breached the nine-figure barrier in a calendar month.
This total was a rise of 5.3% on August and capped four months of consecutive growth since the market launched in January. Total GGR for the year stands at $775m.
It means Michigan is closing in on New Jersey ($113.2m in GGR for August) as the largest igaming state in the US based on monthly GGR.
BetMGM, which is partnered with MGM Grand Detroit, comfortably topped the list with $40.6m in GGR, which means the MGM Resorts and Entain joint venture cornered almost 40% of the market.
The operators in a distant second and third spot to the runaway leader were the usual suspects of DraftKings on $15.5m and FanDuel close behind with $15.4m in GGR.
These were followed by BetRivers ($6.7m), Golden Nugget ($4.7m), and WynnBet ($4.5m).
Online casino and poker operators in the Great Lakes State handed over $18.9m in taxes.
On the sports betting front, handle for the month of September reached $354.3m, which was the highest amount since the $359.4m posted in March and was an 82% increase on August.
DraftKings led the field with $106.9m, followed by FanDuel ($82m), and BetMGM ($81.8m). There was a chasm to fourth place with Barstool Sportsbook ($29.5m) securing that spot.
Such is the dominance of the leading brands, the likes of Wynn Bet, TwinSpires, Parx, and Golden Nugget took less than 1% of the market in terms of handle.
Meanwhile, total sports betting revenue across the board came in at $23.7m, which equated to a hold of 6.7%.
Yet when free bets and promos are taken into account, it left DraftKings with a loss of $4.7m for adjusted gross revenue. FanDuel and BetMGM made $3.2m and $2.7m respectively.
For a full breakdown of sports betting and igaming numbers across the US, visit EGR North America’s proprietary tracker.