{"id":7060,"date":"2022-04-22T12:19:02","date_gmt":"2022-04-22T19:19:02","guid":{"rendered":"https:\/\/wagers.com\/staging\/4285\/?p=7060"},"modified":"2022-04-22T12:19:02","modified_gmt":"2022-04-22T19:19:02","slug":"us-online-casinos-set-revenue-record-as-mi-closes-in-on-nj","status":"publish","type":"post","link":"https:\/\/wagers.com\/staging\/4285\/news\/us-online-casinos-set-revenue-record-as-mi-closes-in-on-nj\/","title":{"rendered":"US online casinos set revenue record as MI closes in on NJ"},"content":{"rendered":"<p>In March, New Jersey, Pennsylvania, and Michigan set new online casino revenue records, propelling the legal US market to an all-time revenue high. The six legal online casino states pushed past the $400 million mark for the first time and did so with ease, with a final tally of more than $424 million.<\/p>\n<p>However, on a per-day basis, February outperformed March.<\/p>\n<table>\n<tbody>\n<tr>\n<td width=\"102\"><\/td>\n<td width=\"130\">February 2022 Rev.<\/td>\n<td width=\"130\">March 2022 Rev<\/td>\n<td width=\"130\">Feb. Rev. per day<\/td>\n<td width=\"130\">Mar. Rev. per day<\/td>\n<\/tr>\n<tr>\n<td width=\"102\">New Jersey<\/td>\n<td width=\"130\">$129,976,091<\/td>\n<td width=\"130\">$140,655,053<\/td>\n<td width=\"130\">$4,642,003<\/td>\n<td width=\"130\">$4,537,259<\/td>\n<\/tr>\n<tr>\n<td width=\"102\">Pennsylvania<\/td>\n<td width=\"130\">$102,419,293<\/td>\n<td width=\"130\">$118,118,408<\/td>\n<td width=\"130\">$3,675,832<\/td>\n<td width=\"130\">$3,810,271<\/td>\n<\/tr>\n<tr>\n<td width=\"102\">Michigan<\/td>\n<td width=\"130\">$122,775,924<\/td>\n<td width=\"130\">$131,673,653<\/td>\n<td width=\"130\">$4,384,854<\/td>\n<td width=\"130\">$4,247,537<\/td>\n<\/tr>\n<tr>\n<td width=\"102\">Connecticut<\/td>\n<td width=\"130\">$21,582,925<\/td>\n<td width=\"130\">$22,637,711<\/td>\n<td width=\"130\">$770,818<\/td>\n<td width=\"130\">$730,248<\/td>\n<\/tr>\n<tr>\n<td width=\"102\">West Virginia<\/td>\n<td width=\"130\">$8,013,328<\/td>\n<td width=\"130\">$10,343,361<\/td>\n<td width=\"130\">$286,190<\/td>\n<td width=\"130\">$333,656<\/td>\n<\/tr>\n<tr>\n<td width=\"102\">Delaware<\/td>\n<td width=\"130\">$843,246<\/td>\n<td width=\"130\">$1,002,072<\/td>\n<td width=\"130\">$30,116<\/td>\n<td width=\"130\">$32,325<\/td>\n<\/tr>\n<tr>\n<td width=\"102\"><strong>TOTAL<\/strong><\/td>\n<td width=\"130\"><strong>$385,610,807<\/strong><\/td>\n<td width=\"130\"><strong>$424,430,258 <\/strong><\/td>\n<td width=\"130\"><strong>$13,789,813<\/strong><\/td>\n<td width=\"130\"><strong>$13,691,296<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<ul>\n<li>Revenue numbers from the\u00a0<a href=\"https:\/\/www.michigan.gov\/mgcb\/0,4620,7-351-79127_82898-244408--,00.html\">Michigan Gaming Control Board<\/a>.<\/li>\n<li>Revenue numbers from the\u00a0<a href=\"https:\/\/www.njoag.gov\/about\/divisions-and-offices\/division-of-gaming-enforcement-home\/financial-and-statistical-information\/\">New Jersey Division of Gaming Enforcement<\/a>.<\/li>\n<li>Revenue numbers from the\u00a0<a href=\"https:\/\/gamingcontrolboard.pa.gov\/?pr=940\">Pennsylvania Gaming Control Board<\/a>.<\/li>\n<li>Revenue numbers from the\u00a0<a href=\"https:\/\/www.delottery.com\/More\/iGaming\/Monthly-Net-Proceeds\/Monthly-Distribution-Of-Proceeds\/2021\">Delaware Lottery<\/a>.<\/li>\n<li>Revenue numbers from the\u00a0<a href=\"https:\/\/wvlottery.com\/news-and-info\/information\/financial-reports\/\">West Virginia Lottery<\/a>.<\/li>\n<li>Revenue numbers from the\u00a0<a href=\"https:\/\/portal.ct.gov\/DCP\/Gaming-Division\/Gaming\/Gaming-Revenue-and-Statistics\">Connecticut Department of Consumer Protection<\/a>.<\/li>\n<\/ul>\n<h2>A Look Inside the March Numbers<\/h2>\n<h3>New Jersey\u2019s Growth Begins to Slow<\/h3>\n<p>Since its inception, New Jersey has been the undisputed online casino leader in the US.<\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-large wp-image-7061\" src=\"https:\/\/wagers.com\/staging\/4285\/wp-content\/uploads\/Picture5-1-1024x598.png\" alt=\"\" width=\"1024\" height=\"598\" \/><\/p>\n<p>Since November 2013, New Jersey has topped the online casino revenue chart. That 101-month streak could be in Jeopardy, with Michigan nipping at New Jersey\u2019s heels.<\/p>\n<p>Michigan\u2019s online casino revenue was roughly 94% of New Jersey\u2019s in February and March.<\/p>\n<p>New Jersey\u2019s online casino revenue is still seeing significant year-over-year growth (19% in March). Still, as the chart below indicates, these numbers are closer to pre-PASPA levels \u2013 before New Jersey added online sports betting \u2013 causing online casino revenue to explode. A couple of months after introducing online sports betting, Y\/Y growth began eclipsing 50%.<\/p>\n<p><img decoding=\"async\" class=\"alignnone size-large wp-image-7062\" src=\"https:\/\/wagers.com\/staging\/4285\/wp-content\/uploads\/Picture4-1-1024x598.png\" alt=\"\" width=\"1024\" height=\"598\" \/><\/p>\n<h3>Pennsylvania Is Losing Sight of the Leaders<\/h3>\n<p>Pennsylvania online casinos easily set a new revenue record in March. Still, as the most populated legal online casino state in the US, it lags well behind New Jersey and Michigan despite a population advantage of 30% and 23%, respectively.<\/p>\n<p><img decoding=\"async\" class=\"alignnone size-large wp-image-7063\" src=\"https:\/\/wagers.com\/staging\/4285\/wp-content\/uploads\/Picture3-2-1024x598.png\" alt=\"\" width=\"1024\" height=\"598\" \/><\/p>\n<p>As a newer market (Pennsylvania online casinos launched in July 2019), Pennsylvania\u2019s Y\/Y growth is near New Jersey levels and looks anemic compared to Michigan. In March, Pennsylvania\u2019s online casino revenue grew by 17% Y\/Y. In Michigan, Y\/Y growth was 28% in March.<\/p>\n<h3>Michigan Has its Eyes on the Number One Spot<\/h3>\n<p>Michigan is trending towards the top spot in the US online casino market. At their current growth rates and based on historical revenue, Michigan could overtake New Jersey as soon as next month. If New Jersey grows by 19% next month, it will produce revenue of $128.2 million. Michigan could eclipse that total with a 35% Y\/Y increase.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-large wp-image-7064\" src=\"https:\/\/wagers.com\/staging\/4285\/wp-content\/uploads\/Picture2-2-1024x598.png\" alt=\"\" width=\"1024\" height=\"598\" \/><\/p>\n<h3>The Other Three Online Casino States<\/h3>\n<p>New Jersey, Pennsylvania, and Michigan are only half of the legal online casino states in the US. Yet, they account for over 90% of all online casino revenue in the US.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-large wp-image-7065\" src=\"https:\/\/wagers.com\/staging\/4285\/wp-content\/uploads\/Picture1-3-1024x598.png\" alt=\"\" width=\"1024\" height=\"598\" \/><\/p>\n<p>Connecticut is celebrating its online casino half-birthday, having launched in October 2021. Unlike the Big 3 covered above, Connecticut appears to have plateaued (although Michigan went through a similar phase in its first several months of operation).<\/p>\n<p>Delaware resides in a similar place, with revenue hovering around $1 million every month. West Virginia is on an upward trajectory, with revenue increasing 15% from January to February and 22% from February to March.<\/p>\n<p>One interesting aspect of the nascent Connecticut market is the revenue breakdown between the two online operators, Foxwoods and Mohegan Sun.<\/p>\n<p>March 2022 online casino revenue:<\/p>\n<ul>\n<li>Foxwoods = $13.7 million<\/li>\n<li>Mohegan Sun = $9 million<\/li>\n<\/ul>\n<p>casino domination is interesting considering the two tribes are evenly split when it comes to sports betting handle and revenue:<\/p>\n<p>March 2022 sports betting handle and revenue:<\/p>\n<ul>\n<li>Foxwoods = $61.4 million\/$3.5 million<\/li>\n<li>Mohegan Sun = $56.3 million\/$4.8 million<\/li>\n<\/ul>\n<p>One explanation is promotional spend. According to the Connecticut Department of Consumer Protection, Foxwoods has reported nearly $50 million in online casino promotional credits wagered in the last two months. Mohegan Sun\u2019s promotional credits wagered was just $2 million over the same period.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In March, New Jersey, Pennsylvania, and Michigan set new online casino revenue records, propelling the legal US market to an all-time revenue high. The six legal online casino states pushed past the $400 million mark for the first time and did so with ease, with a final tally of more than $424 million. However, on [&hellip;]<\/p>\n","protected":false},"author":24,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","footnotes":""},"categories":[324],"tags":[603],"class_list":["post-7060","post","type-post","status-publish","format-standard","hentry","category-news","tag-online-gambling"],"_links":{"self":[{"href":"https:\/\/wagers.com\/staging\/4285\/wp-json\/wp\/v2\/posts\/7060","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wagers.com\/staging\/4285\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wagers.com\/staging\/4285\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wagers.com\/staging\/4285\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/wagers.com\/staging\/4285\/wp-json\/wp\/v2\/comments?post=7060"}],"version-history":[{"count":5,"href":"https:\/\/wagers.com\/staging\/4285\/wp-json\/wp\/v2\/posts\/7060\/revisions"}],"predecessor-version":[{"id":7071,"href":"https:\/\/wagers.com\/staging\/4285\/wp-json\/wp\/v2\/posts\/7060\/revisions\/7071"}],"wp:attachment":[{"href":"https:\/\/wagers.com\/staging\/4285\/wp-json\/wp\/v2\/media?parent=7060"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wagers.com\/staging\/4285\/wp-json\/wp\/v2\/categories?post=7060"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wagers.com\/staging\/4285\/wp-json\/wp\/v2\/tags?post=7060"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}