Michigan Online Gambling Market Share: Who's Up And Who's Down?
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The Michigan Gaming Control Board released May 2022 revenue numbers for online sports betting and online casinos. There are 15 different operators in both venues. Some operators are on the rise, others seem to be on their way down.
DraftKings fell back in the market share of online gambling in Michigan. It is now third in market behind FanDuel Sportsbook MI and BetMGM Michigan, which has a combined market value of $1.49 billion.
Bartstool Sportsbook MI is in the fourth place in Michigan's top three online sportsbooks. It has 9.2% of the all-time market share, three percentage points ahead of Caesars Sportsbooks MI. Barstol reached its peak in January 2022 with 10.1% share. In April it had 8.4% and in May it reached 9%.
BetRivers Sportsbook MI has been climbing up the mountain since January 2022. It has exceeded it's all-time average of 1.4% of the market share for online handle. The company has $78.6 million in all time handle and is aiming for sixth place.
BetMGM Casino Michigan has been the state's leader in online casino revenue every month since it was legalized in January of 2021. For all but three months, MGM has more than doubled its closest competitor in terms of market share. FanDuel and DraftKings are taking steps backward to give BetM MGM a further lead in the race.
DraftKings lost a percentage point of the market share in April and May to drop to 14% most recently with $17.8 million. It's the lowest revenue total DraftKings has brought in since November of 2021.
Caesars has a record-best 5% market share in Michigan's online casino game. In May, Caesar's made $6.5 million in online revenue. Caeres has only 2% of the market in the state's internet gaming history. For 2022, it will account for 4% in that market.
