Market Monitor: Michigan August 2023

Market Monitor: Michigan August 2023 – Michigan’s online casino and poker market reached $152m in August 2023, a 16% increase year-on-year.

PokerStars reported a revenue of $3m, reflecting 18% growth year-over-year.

BetMGM leads the market with $44m, but its share fell from 32% in July to 29% in August.

FanDuel’s revenue was $33m, up by 71% annually, claiming a market share of 22%.

The Michigan online casino and poker market reached $152 million in revenue in August 2023, holding steady over the prior three months. Compared to August of last year, the market is up 16%.

PokerStars, whose revenue is thought to derive primarily from online poker, reported $3 million last month, growth of 18% year-over-year. It is roughly in line with growth enjoyed all year, ever since it connected its Michigan and New Jersey online poker rooms back in January.

Among the Big Three online casinos, BetMGM still has the clear lead, with $44 million last month for a market share of 29%. However, this is a notable dip on prior months, and its market share has fallen from 32% in July. A year ago, its revenue was actually higher — $49 million — and its market share was a much stronger 38%.

FanDuel, took advantage: Its revenue last month was $33 million, its second best in market history and up a very strong 71% annually. It claimed a market share of 22% in August, its best since the very first month of market opening in January 2021. It now sits clear of its rival DraftKings, which reported $28 million in revenue — also up a very strong 46% year-over-year — with a market share of 19%.

Lower down the pack, BetRivers stands out. It reported $10.5 million in revenue last month, the first time it — or indeed any operator outside the Big Three — has done a $10m month.Please play responsibly. If you or someone you know has a gambling problem and wants help, call 1-800 GAMBLER.…

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