According to a recent report, FanDuel overtook BetMGM in March as the leader in Michigan’s online gaming and casino market for the first time since launching in the Wolverine State back in January 2021.
FanDuel Rules in Michigan
BetMGM Online Casino got off to a roaring start in Michigan’s iGaming market, capturing 40% of the customers in August 2021, only seven months after the launch. FanDuel held a paltry 15% at that time but has been steadily increasing its market share since that time to the point where the Flutter Entertainment subsidiary is now the market leader in Michigan with a 26.8% share while BetMGM now holds 25.4% of the market.
The surge began late in 2022 with FanDuel increasing its share at 60% annually. The latest data reveals FanDuel as the No. 1 iGaming platform in the market of the 15 competitors now active in the Michigan market. This ends BetMGM’s reign at the top after 39 consecutive months but whether FanDuel can continue to tighten its hold as Michigan’s most popular online casino platform has yet to be seen.
It should also be noted that FanDuel is estimated to have contributed to nearly half of the stunning growth of the online casino market nationwide. From March 2023 to March 2024, FanDuel iGaming sites throughout the U.S. have increased their year-over-year revenue by $70 million.
The domestic iGaming industry generated $715 million in gross gaming revenue in March alone and is projected to beat the $8 billion in revenues from 2023. Although some states do not reveal individual market share numbers, it is quite certain that FanDuel is the most popular iGaming company in America.
FanDuel Invests in Technology
Customer retention is a key component of market success in any sector and FanDuel has been at the top of that category, which correlates directly to its success in both the mobile sports betting realm as well as in the iGaming industry. Investing in its products and improving the technology associated with it has become a hallmark of FanDuel’s success.
Thus, enhancing the customer’s experience is important in not only retaining those customers but also attracting a new audience to increase the bottom line. In February, it was announced that FanDuel had acquired iGaming industry start-up BeyondPlay.
The sale price was not disclosed but BeyondPlay’s technology will be integrated into the FanDuel platform and will bring two main components to the table – a jackpot management system that allows tailored jackpot experiences, as well as a multiplayer dimension that will permit multiple users to participate in shared casino game sessions, allowing them to pool their entries for a communal prize.
FanDuel Casino managing director Asaf Noifeld said: “Our US strategy is about investing to win and continuously improving our iGaming proposition for our customers is a key part of that.
“This acquisition further strengthens FanDuel Casino’s leading customer experience, by adding BeyondPlay’s best-in-class jackpots and multiplayer technology.
“We’re also excited to welcome their experienced team to FanDuel and look forward to working together to continue to grow our rising share of the US iGaming market.”
