Michigan online gaming sector poised to surpass New Jersey in US

Michigan online gaming sector poised to surpass New Jersey in US

Michigan’s online casino and sports betting industry ranks second only to New Jersey in terms of online gambling income, according to the release of the two states’ most recent gaming revenue figures.

On the basis of the trajectory followed by the two states since the introduction of online gambling in their respective jurisdictions, Michigan is quite likely to overcome New Jersey and grab the top place in the US-regulated market.

Michigan to Start Online Sports Betting in Early 2021

Intense Demand in Michigan’s Relatively New Online Gambling Industry

The New Jersey Division of Gaming Enforcement and the Michigan Gaming Control Board released the gambling income statistics, but the data was collated by OddsSeeker, a website that reports on the regulated online gambling business in the United States. During the first half of 2022, New Jersey’s online gambling websites generated earnings of $814,519.523.

Michigan came in second with $757,024,184 in revenue over the same time. Notable is the fact that online gambling has been permitted in New Jersey since November 2013, while Michigan will begin its online gambling market in January 2021, making New Jersey a pioneer in the industry.

In New Jersey, the industry has enough time to expand and become established, but in Michigan, things are still settling and becoming simplified. At the same time, Michigan’s online gambling revenues are strong, as a large amount of pent-up demand has now been released, and Michigan citizens are still eager for this new and appealing leisure and entertainment alternative.

It is important to note that when the populations of the two states are taken into account, the difference in gambling income per person is $12.58 in favor of New Jersey, with earnings per resident in Michigan being $75.31 and in New Jersey being $87.89.

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A Closer Examination of the Numbers

When examining the monthly revenues of the two U.S. states from January to June 2022 more closely, one figure leaps out. During the month of March, online casinos and sports betting websites in the state of New Jersey generated a staggering $140,655,053 in revenue. The April record of $132,438,011 for the state of Michigan is not even comparable.

Moreover, it is evident from the data that both states have seen a fall in income for the previous two months, May and June. This is likely owing to the raging worldwide inflation issue that precedes an impending recession, which is gradually reducing gambling demand. Vacation time and the lack of sporting events on the calendar also contribute to the reduction. Once individuals return to their regular 9-to-5 schedules, business should increase and profit margins should rise as the football season begins.

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About Lou De Aguila

Lou Ramon Aguila is a contributor for Golden Casino News. He has a degree in BSBA Legal Management with great interest in high-profile legal cases involving sports personalities. An ultimate sports junkie, he covers just about everything in the sporting world with an emphasis on the NBA, NFL, and MLB. In his past time, Lou loves to read manga, watch anime and critique pro-wrestling matches.