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Michigan online casinos positioned the state as the second-largest US market in 2024, behind only Pennsylvania, after setting a state record last month. The Michigan Gaming Control Board (MGCB) reported that operators produced $244 million in December revenue.
It’s the third straight month Michigan has beaten its own iGaming revenue record. November was also a record month with a total of $226 million, but December beat that by a comfortable 8%.
Michigan and New Jersey have been involved in a back-and-forth battle for the title of second-largest iGaming market. While New Jersey online casinos earned more revenue in five out of 12 months in 2024, Michigan’s December surge cemented its victory.
The state generated a yearly record of $2.44 billion, shattering 2023’s mark of $1.92 billion. By contrast, New Jersey’s total was $2.38 billion. Pennsylvania is on another level, churning out nearly $2.71 billion in 2024 revenue.
The “Big Three” iGaming states, Pennsylvania, Michigan and New Jersey, each broke monthly records in December. While Pennsylvania is the leading US market, Michigan is continuing to grow at a rapid pace, too.
Where Michigan compares to PA and NJ
The Keystone State had been leading the market for awhile. Michigan and New Jersey have been neck-and-neck for the No. 2 spot. The Great Lakes State ed the Garden State comfortably in 2024.
Here is how each state has fared since Michigan launched online casinos in 2021:
| Year | Michigan | New Jersey |
|---|---|---|
| 2021 | $1.11 billion | $1.37 billion |
| 2022 | $1.58 billion | $1.67 billion |
| 2023 | $1.92 billion | $1.92 billion |
| 2024 | $2.44 billion | $2.39 billion |
New Jersey legalized iGaming in 2013, but it didn’t start to take off until the pandemic in 2o20. Michigan came late to the party, but has appeared to out-pace the Garden State just four full years in operation.
Three straight records broken
During 2024, Great Lakes State operators broke four records in total, which came in March, October, November and December.
The football months are important for online casinos, who get a sizable crossover from sports bettors. The revenue in those months are as follows:
- March: $215.2 million
- October: $220.7 million
- November: $226 million
- December: $244 million
Revenue was up nearly 8% month-over-month and 34.5% year-over-year. Despite football winding down, the first three months of 2025 usually garner high online casino results.
BetMGM outduels FanDuel in 2024
FanDuel provided a fascinating battle the ultimately came down to the former winning by producing $640.1 million to the latter’s $614.6 million.
BetMGM had led the market for 39 straight months until FanDuel dethroned them last month for the first time. After leading the market in April, too, FanDuel did not finish ahead of BetMGM again in 2024.
BetMGM created some separation in December, generating $65.1 million compared to FanDuel’s $60.7 million.
Fanatics eyes $8 million
recording $7 million for the first time ever. The operator came close to clearing $8 million in December.
Fanatics has come a long way from recording $3.7 million as late as August 2024. Since then, it has been on a tear:
- September: $5.7 million
- October: $6.4 million
- November: $7.2 million
- December: $7.9 million
Look for the operator to break $8 million in January.
December 2024 online casino revenue by operator
| Licensee | Online Brand | Revenue | Promos | Taxes |
|---|---|---|---|---|
| MGM Grand Detroit | BetMGM | $65,136,663 | $6,513,666 | $17,147,226 |
| MotorCity | FanDuel | $60,749,081 | $6,077,022 | $15,991,578 |
| Bay Mills | DraftKings | $41,560,490 | $4,093,517 | $10,490,752 |
| Little River Band of Ottawa | BetRivers | $16,157,412 | $1,615,741 | $4,071,668 |
| Grand Traverse Band of Ottawa and Chippewa | Caesars | $15,873,301 | $1,587,330 | $4,000,072 |
| Keweenaw Bay | Golden Nugget | $11,142,687 | $1,114,269 | $2,807,957 |
| Lac Vieux Desert Band of Lake Superior Chippewa | Fanatics | $7,928,445 | $792,845 | $1,997,968 |
| Greektown | Hollywood | $5,571,346 | $557,135 | $1,466,657 |
| Pokagon Band of Potawatomi | Four Winds | $3,932,577 | $393,258 | $991,009 |
| Sagniaw Chippewa | Eagle | $3,782,549 | $378,255 | $953,202 |
| Sault Ste. Marie Tribe of Chippewa | Horseshoe | $3,403,050 | $340,305 | $857,569 |
| Match-E-Be-Nash-She-Wish Band of Pottawatomi | betParx | $3,296,705 | $329,671 | $830,770 |
| Little Traverse Bay Bands of Odawa | PokerStars | $2,683,029 | $268,303 | $676,123 |
| Nottawaseppi Huron Band of Potawatomi | FireKeepers | $1,944,368 | $194,437 | $489,981 |
| Hannahville | SI | $824,239 | $82,424 | $192,872 |
| Total | $243,985,944 | $24,338,176 | $62,965,405 |
