The Michigan online casino market had seen an impressive growth in 2024 which saw them capture the second-largest iGaming market in the U.S. This was in large part due to a strong showing in December that saw the Wolverine state online casinos rake in $244 million in revenue.
According to a report from the Michigan Gaming Control Board, for 2024, Michigan generated a yearly record of $2.44 billion, shattering 2023’s mark of $1.92 billion. This is taking into account adjusted revenue, which includes promotional spending and covers commercial and tribal operators which resulted in 22.3% year-on-year.
“The Big Three” Had a Huge 2024
Among the Big Three US states that have the largest online casino real money markets, Pennsylvania had a strong 2024, placing the Keystone State in 1st place with nearly $2.71 billion in 2024 revenue. Meanwhile, New Jersey’s total was $2.38 billion, enough for 3rd place.
Michigan and New Jersey have been jockeying for position for the No. 2 spot. The Great Lakes State passed the Garden State comfortably in 2024 by recording $2.44 billion. New Jersey’s online casinos had the 2nd place for 2021 and 2022, and were tied with Michigan in 2023 in revenue.
That said, this is the first time Michigan has wrestled the 2nd place from New Jersey. The Wolverine State has recently legalized online casino gaming back in 2021, and ever since, their market has steadily been growing:
Michigan
2021- $1.11 billion
2022 – $1.58 billion
2023 – $1.92 billion
2024 – $2.44 billion
New Jersey
2021 – $1.37 billion
2022 – $1.67 billion
2023 – $1.92 billion
2024 – $2.39 billion
Pennsylvania
2021 – $1.29 billion
2022 – $1.36 billion
2023 – $1.74 billion
2024 – $2.71 billion
Meanwhile, Pennsylvania’s online casino market has been trending up since 2021, culminating in a record-setting $2.71 billion in revenue for 2024. Such huge numbers further cements the “Big Three” as the go-to markets with the best online casinos in the U.S.
Record-Breaking 2024 for Michigan Online Casinos
Great Lakes State operators broke four records in total during 2024. Namely, Michigan online casinos had successful numbers for March, October, November and December. MGCB’s report on the December revenue numbers totaled to $264.2 million, up 9.0% year-on-year but 7.1% lower than November.
As for adjusted gross receipts, this hit $219.9 million, a rise of 10.8% from 2023 but 8.5% less than November’s total. Moreover, the month-on-month declines came despite igaming gross receipts reaching a record $244.0 million. Adjusted gross receipts for this segment amounted to $219.6 million.