Poker rate

Michigan’s online poker market has been bigger than New Jersey’s in the past three months

Michigan's online poker market has been bigger than New Jersey's in the past three months

Courtesy of PokerGO

Michigan’s online poker market was larger than New Jersey’s for the third straight month in May, largely due to the success to date of WSOP MI, estimates based on factors such as gambling traffic reveal.

Online poker and casino revenue totaled $127.4 million in May, according the Michigan Gaming Control Commission (MGCB) and reported in Poker Industry PRO industry monitor earlier this week. Revenue for the combined verticals was down 3.8% month-over-month ($132.5 million), but up 34.3% from a year ago ($94.9 millions of dollars).

The MGCB does not separate online poker revenue from online casino revenue. But a comparison of gambling traffic data — coupled with an estimate based on the populations of three states where online poker is legal and its earnings are known — provides some context.

Michigan Online Poker: May 2022 Earnings and Estimates

Operator Revenue from online poker and casinos Online Poker Revenue Estimate Cash game traffic (30-day average as of May 31)
BetMGM Poker MI $49.2 million $642,000 76
PokerStars France $2.5 million $1.2 million 141
WSOP MID $6.5 million $642,000 76
Total $127.4 million $2.5 million 293

Based on gambling traffic data provided by an independent industry monitor GameIntel, Michigan’s three online poker rooms reported estimated revenue of $2.5 million in May, down 7.9% from an April estimate of $2.7 million . March revenue is estimated at $2.6 million.

If accurate, the estimates would mean that Michigan has had a bigger online poker market than New Jersey over the past three months. The poker vertical brought in $2.5 million in the Garden State in March, just under $2.3 million in April and just over $2.3 million in May.

According Poker Industry PROwhich makes GameIntel data accessible to subscribers of its unique PRO Data platformthere were 141 cash game seats at PokerStars MI on May 31st. On the same day, there were 76 cash game places on BetMGM Poker MI and WSOP MID.

WSOP Only the poker room is open in May

MGCB data shows that BetMGM MI generated $49.2 million in online casino and poker revenue in May, while PokerStars MI brought in $2.5 million and WSOP MI won $6.5 million. Revenue was down 1.5% month-over-month for BetMGM ($50 million) and 9% for PokerStars, but WSOP saw its revenue rise 10.3% from April ($5.9 million).

Using the same estimation method as before, PokerStars Poker MI generated approximately $1.2 million in online poker revenue in May, down 10.2% from April (1.3 million dollars). PokerStars also appears to have slipped 15.6% from March ($1.4 million).

Meanwhile, BetMGM Poker MI and WSOP MI is estimated to have generated $642,000 from online poker in May. For BetMGM, that’s down 11.6% from an April estimate of $727,000. But for WSOPthe May estimate was 1.3% higher than the April estimate ($634,000).

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Last check: June 2022

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Caesars boosted by cross-traffic in online casino

The launch of WSOP online poker in michigan also seems to have benefited Caesars in online casino games.

Caesars, licensed by William Hill, was the eighth-largest online poker and casino operator in March, but climbed to fifth place in May. Revenue for the combined vertical totaled $6.5 million in May, up 10.3% from April ($5.9 million) and 45% from March ($4.6 million). dollars).

Caesars’ growth is likely the result of cross-traffic from what has been a busy neighborhood WSOP MI Room since its launch in March. Example : WSOP hosted its first online spring championship series in Michigan in May.

Methodology

The formula used to calculate online poker revenue in Michigan is based on the two-month average of cash game seats (using the 30-day average) as of April 30 and May 31 across three states: Michigan, New Jersey and Pennsylvania. .

After calculating a per-seat rate in New Jersey ($7,931) and Pennsylvania ($8,971), and adjusting for the populations of Michigan (10 million), New Jersey ($9.3 million), and Pennsylvania (13 million), a per-seat rate of $8,450 is assumed for all revenue estimates in Michigan.

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Last check: June 2022

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