BetRivers continues to impress in terms of its ongoing collection of increased revenue in Michigan. In August, the provider brought in $10.5 million in revenue, the highest amount it’s recorded in any month of operation.
August’s numbers were an increase on the previous record, which stood at $9.7 million, secured in March 2022. BetRivers sits solidly in the fourth spot in terms of the most profitable online casino operation in Michigan, sitting behind BetMGM, FanDuel, and DraftKings but ahead of Golden Nugget, WynnBet, and Caesars.
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BetRivers has now made revenue of just over $250 million in its lifetime in Michigan, which gives it a market share of 6.4% overall, and the latest numbers saw its share increase a tad to 6.9%.
BetRivers is also doing well in other markets, with the provider showing good signs of growth in the New York sports betting revenue stakes. The state continues to soar in terms of its overall sports betting operations; in the week ending September 17th alone, the New York State Gaming Commission reported that a handle of $400.5 million was wagered, securing $28.4 million in gaming revenue for the period.
That also meant an additional $14 million in tax revenue for the state; this is due to the 51% rate that is in operation in New York.
Nine sportsbooks operate in New York, and for the week in question, DraftKings led the way with a handle of a massive $179.6 million. In second place was FanDuel, on $138.9 million, while Caesars sat in the third spot with sizably less, $38.8 million; this illustrates the dominance that the top two have in the state.
BetMGM is in fourth, with a handle of $23.7 million, and then comes BetRivers, with $10.1 million, ahead of the likes of PointsBet, WynnBET, Resorts World, and Bally Bet, albeit that final entry is somewhat irrelevant as Bally Bet has ceased operations.
New York has achieved incredible numbers ever since sports betting was made legal back in January 2022, and at the top of the charts in terms of overall handle since that point is FanDuel, which has amassed a handle of over $11 billion. Indeed, they are the only provider to top the 10 billion milestone.
DraftKings, with a handle of $8.8 billion, is the only other brand to top five billion. BetRivers sit healthy in fifth place with a total handle of $760.4 million.
BetRivers’ handle of $10.1 million resulted in revenue of just over $1 million for the week of September 17th, and their total gross revenue in New York for 2023 now stands at $45.6 million.