Since Their Launch, Michigan Online Casino Challenger Brands Gained 14% of the Market
The Michigan online casino gaming market is still developing. However, many insiders in the online gambling industry may be excused for believing that this Big Three market’s revenue story is already tepid over two years after its start. In the meantime, the untold tale is that challenger brands have since launched and amassed more than 14% of the iGaming market share.
Michigan’s performance is unsurprisingly strong, coming in at close to $141 million, or 6% more than GGR from the previous month. With $147 million going to New Jersey’s coffers, Pennsylvania outperformed the other two with $152 million.
According to a study from MGCB on November 14, the MGM Grand Detroit Hotel and Casino, the owner of BetMGM, controlled 46% of the state’s commercial casino market share in October.
The other half of BetMGM is owned by Entain, and the joint venture can boast of dominating the US online casino market share with 31% in Q3 2022. With 37% of GGR, BetMGM presently holds the top spot in Michigan.
Second and Third Place are frequently traded between DraftKings Casino and FanDuel Casino. FanDuel came in second in October with 16.33%, followed by DraftKings with 16.05%.
The Big Three Michigan online casino providers collectively controlled 69% of the market. But there are other recognizable brands on the market that shouldn’t be overlooked:
- Golden Nugget, 4.58%, $6.5 million
- Caesars, 3.78%, $5.3 million
- Barstool, 3.27%, $4.6 million
- WynnBet, 3.21% $4.5 million
- Four Winds, 2.2%, $3.1 million
- Soaring Eagle, 2.14%, $3 million
- PokerStars, 1.74%, $2.5 million
- Play Gun Lake, 1.27%, $1.8 million
- FireKeepers, 1.09%, $1.5 million
- PointsBet, 0.75%, $1.1 million