
Internet gambling produced more than Detroit‘s casinos did for Michigan last month, $131 million to $104.5 million. Unsurprisingly, BetMGM was dominant with $49 million. Thence came DraftKings ($26.5 million) and FanDuel ($19 million). Smaller fry included BetRivers ($9 million), Caesars Entertainment ($6 million), and WynnBet and Barstool Sports at $4 million apiece. Sports betting was not nearly so lucrative, with $24 million realized on $218 million in handle. A third of that went right back out in the form of promotions, with Barstool engaging in significantly less promo activity than its rivals, per Penn Entertainment CEO Jay Snowden‘s rationale for buying Barstool in the first place. As for revenue, FanDuel (32% of market share) outdueled DraftKings (21%), while BetMGM was close behind at 21%. Caesars and Barstool each accreted 7%.
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