How FanDuel Surpassed BetMGM As Online Casino Leader In Michigan
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FanDuel overthrew BetMGM as the state’s leading operator, a first for Michigan’s online casino industry. For 39 months in a row, BetMGM dominated the Great Lakes State market.
FanDuel Online Casino MI had a higher revenue of $57.6 million in March compared to $54.7 million from BetMGM.
For those of us who have been watching the Michigan market share fight attentively, it seems like FD would eventually overtake BetMGM. The popularity of FanDuel’s online casino platform has been growing not just in Michigan but also in other states.
As far as we can tell, there are two very good reasons why the Great Lakes State now leads the iGaming industry.
FanDuel Invests in Advertising
FanDuel had started to distance itself from DraftKings while chasing BetMGM for the market lead, as shown by their February revenue. Therefore, we weren’t surprised when FD became the state’s top online casino after completing the assignment in March.
FanDuel promised to invest in promotions in order to assist them in obtaining the top place. It is no accident that FanDuel outperformed BetMGM in terms of revenue in the first month and also outperformed them in terms of promotional expenditure.
FanDuel spent $5.8 million on marketing in March, while BetMGM only spent $4.6 million. FanDuel has never spent more than $5 million on promotions.
When BetMGM dominated other Michigan-based online casinos in January 2023, it also made a big promotional investment. BetMGM spent $5.3 million on promotions that month, generating $52.8 million in income. $28.9 million in revenue was generated by $2.9 million in promotions that FanDuel delivered.
BetMGM’s pattern remained mostly the same, although FD increased the volume of its promotion. In September of last year, it spent $3.5 million for the first time, and in November, it increased to $4.4 million.
