The state of Michigan continues to put up some huge numbers when it comes to the online casino industry.
A new form of online casino gaming is now offered in Michigan and that allowed the state to shatter previous records during the month of August.
The online casino revenue in Michigan for the month of August was $97.2 million, and that was an increase of nearly six percent from July. The $97.2 million is a record in the state, and Michigan will have a chance to go over $100 million in September.
Online casino sites in Michigan were able to offer live dealer casino games beginning in July, but August was the first full month with this option. These games continue to grow in popularity and it allowed Michigan to see a huge uptick in action.
The city of Detroit received $4.9 million in taxes because of the August revenue, and the state of Detroit received nearly $18 million last month. Finding a new revenue source was the initial goal for lawmakers in Michigan when it sought to approve online casino gambling.
The state has brought in over $120 million in tax revenue since January 2022, and the city of Detroit has received $33.3 million. The numbers have been trending in a positive direction since this form of iGaming was available, and that should continue into 2022 as well.
Evolution is the company that is providing live dealer casino games for up to 10 online casinos throughout the state. Forms of baccarat, blackjack, and roulette can be offed by these sites, but there is no requirement to do so.
These games allow customers to feel like they are actually on the casino floor even though they are playing from a phone or a computer. It took the Michigan Gaming Control Board several months before they ultimately approved Evolution to launch its product.
Interstate poker still has not yet been launched in Michigan, but it is already legal, technically. When this happens, Michigan online poker sites could see a massive boost, leading to even more revenue and tax dollars for Detroit and the state.
BetMGM Leads in Michigan
While the US sports betting industry continues to see new operators launch all of the time, that isn’t necessarily the case in the online casino industry. There are still some massive companies, but those companies tend to dominate the market share.
In Michigan, BetMGM Casino is the clear online casino leader, and that company has been on top since the beginning, largely thanks to the impressive selection of BetMGM slots. BetMGM had over 40 percent of the market share for this industry in August, and that company played a massive role in the impressive month for Michigan.
DraftKings and FanDuel are the two leaders when it comes to sports betting, and those two rivals are battling for second in the online casino industry. Since live dealer casino games are now available, all of the biggest names are trying to add as many different options to their site as possible, including FanDuel.