BetMGM, FanDuel, and DraftKings are unquestionably Michigan’s top three online casinos. Second and third place in the state are beginning to solidify. However, the top rank in terms of revenue could be up for grabs.
Last month, FanDuel pulled away from DraftKings and finished closer to BetMGM than it has ever been. There will probably be a change of guard at these Michigan online casinos.
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Fanduel Makes Headway in the Great Lakes State Online Casino Market
In the middle of establishing a state record with $188 million in February revenue, the top three operators in Michigan are beginning to crystallize. BetMGM, FanDuel, and DraftKings are the clear market leaders in the Great Lakes State.
The February findings showed that the FanDuel MI online casino seems to be pulling away from DraftKings, claiming second place in the state. Last month, FD produced $48.4 million in revenue, while DraftKings earned $36.9 million. It’s the widest revenue discrepancy since the two companies first began in Michigan.
DraftKings has remained competitive with FanDuel in recent months. In September 2023, DK finished ahead of FD with the following results:
- BetMGM Casino: $48.6 million.
- DraftKings Casino: $37.1 million.
- FanDuel Casino: $35.2 million
Since then, FanDuel has gradually isolated itself from DraftKings. While FanDuel begins to pull away from DraftKings, it is closing in on BetMGM.
FD Closes in on BetMGM Online Casino Throne in the Great Lakes State
Not long ago, BetMGM dominated the pack by a wide margin. In the first ten months of 2022, BetMGM held 37.5% of the online casino market share. However, that figure fell to 31.4% during the first ten months of last year.
BetMGM’s market share fell even further in February, to 26.8%, while producing $50.3 million. While BetMGM’s market share is declining, FanDuel’s is growing. Over the same periods in 2022 and 2023, FD increased its market share percentage from 15.8% to 20.3%.
Following a great February, FanDuel gained 25.7% of the Michigan market share, bringing it close to a tie with its competitor.
Last August, FanDuel partnered with Bragg Gaming to expand its online slot presence. Just a month later, it expanded its portfolio with an exclusive Fort Knox Cleopatra slot title. FanDuel’s market improvements haven’t been ignored. It may be a matter of when, not if, it overtakes BetMGM for the online casino crown in Michigan.