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Michigan's online poker market has been bigger than New Jersey's for the past three months
Michigan's online poker market has been bigger than New Jersey's for the past three months
Courtesy of PokerGO

Michigan’s online poker market was bigger than New Jersey’s for the third month in a row in May, thanks in large part to its success so far. WSOP MI, factor-based estimates that include cash game traffic reveal.

Online poker and casino revenue amounted to $ 127.4 million in Mayaccording to the Michigan Gaming Control Board (MGCB) and informed a PRO of the poker industry industry monitor earlier this week. Revenues from combined verticals were down 3.8% month-on-month ($ 132.5 million), but up 34.3% from a year ago ($ 94.9 million).

He MGCB does not separate online poker revenue from online casino revenue. But a comparison of cash game traffic data, along with an estimate based on the populations of three states where online poker is legal and its revenue is known, provides some context.

Michigan Online Poker: May 2022 Income and Estimates

Operator Online poker and casino revenue Estimated income from online poker Cash Game Traffic (30 Day Average on May 31)
BetMGM Poker MI $ 49.2 million $ 642,000 76
PokerStars MI $ 2.5 million $ 1.2 million 141
WSOP MI $ 6.5 million $ 642,000 76
Total $ 127.4 million $ 2.5 million 293

Based on cash game traffic data provided by an industry-independent monitor GameIntel, Michigan’s three online poker rooms earned an estimated $ 2.5 million in May, 7.9 percent less than the 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 larger online poker market than New Jersey for the past three months. The poker vertical raised $ 2.5 million at Garden State in March, just under $ 2.3 million in April and just over $ 2.3 million in May.

Seconds PRO poker industryWhat’s he doing GameIntel data available to its sole subscribers PRO Data platform, there were 141 cash gaming seats at PokerStars MI on May 31st. That same day, there were 76 cash game seats at both BetMGM Poker MI and BetMGM Poker MI. WSOP MI.

WSOP Only the poker room operates in May

MGCB Data shows that BetMGM MI had $ 49.2 million in online casino and poker revenue in May, while PokerStars MI raised $ 2.5 million and WSOP MI earned $ 6.5 million. Revenue fell 1.5% month-on-month for BetMGM ($ 50 million) and 9% for PokerStars, but WSOP revenue grew 10.3% from April ($ 5.9 million).

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

Meanwhile, BetMGM Poker MI i WSOP MI is estimated to have generated $ 642,000 from online poker in May. For BetMGM, this represents a decrease of 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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Caesars with cross traffic at the online casino

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

Caesars, under the license of William Hill, was the eighth online poker and casino operator in March, but has risen to fifth in May. Revenue from the combined vertical was $ 6.5 million in May, up 10.3% from April ($ 5.9 million) and up 45% from March ($ 4.6 million). million dollars).

Caesar’s growth is probably the result of cross-traffic which has been very busy WSOP MI Room since its launch in March. Specific case: WSOP held its first spring online championship (SPOON) series in Michigan in May.

Methodology

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

After calculating a 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 rate per $ 8,450 seat is assumed for all income estimates in Michigan.

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