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п»їMichigan Online Sports Betting Review: How 6 Apps Fared, Plus Early User Data Figures.
Michigan launched online sports betting on January 22, with a handful of companies offering their services in the 10th most populous state in America.
I downloaded six of the sports betting apps to test them out during the first weekend. Here is a look at how they fared in terms of downloads, potential market share and promotional offers.
DraftKings: The app from Draftkings Inc (NASDAQ: DKNG) is incredibly easy to use, which shouldn’t come as a surprise given the company's strong market share in the states it operates in. What was surprising was how hard it was at first to login and use the app during the first weekend live in Michigan. The app crashed numerous times and unfortunately became the app used the least by me due to tech problems.
DraftKings offered signup bonuses, matching deposits and $100 free to play blackjack in the casino portion of the app. The company had some bets that were pretty close to being guaranteed winners, such as on the chances of a first quarter touchdown or more than 0.5 touchdowns scored in the NFL Conference Championship.
FanDuel: Flutter Entertainment ADR 's (OTC: PDYPY) FanDuel app had several login problems for me, but operated very well during the first few days of legal betting in the state. The app did feature a warning the first couple days that due to increased volume, settlement on some winning bets could take up to 30 minutes.
Barstool Sportsbook: The Barstool Sportsbook was launched by Penn National Gaming, Inc (NASDAQ: PENN) in Michigan. Barstool offered $10 in free bets for new users in the state and another $5 for those who filled out their favorite sports on their profile. One of the things that really sets the app apart from the competition is Barstool's unique personalities for betting ideas, such as odds boosts and suggested bets.
BetRivers: The lesser known BetRivers brand comes from Rush Street Interactive Inc (NYSE: RSI), which went public via a SPAC. The company offered free promotional money to people who signed up on opening weekend. The app was easy to use and offered a wide range of prop bets and odds-boosted events. Many of the boosted bets came with limits of $100, higher than competitors.
PointsBet: Another lesser known company, PointsBet Holdings Ltd. (OTC: PBTHF), puts out one of the apps I was looking forward to testing out. One of the promotions PointsBet offered was betting on the Detroit Pistons spread. For every point the Pistons scored, users got $1 in free bets.
BetMGM: A joint venture between MGM Resorts International (NYSE: MGM) and GVC International, the BetMGM app is very easy to use, and I was surprised with the amount of odds boosts from the company.
Other Options: Other companies that launched in Michigan but whose apps I did not test or download were Golden Nugget Online Gaming (NASDAQ: GNOG), William Hill, Wynn Resorts, Limited (NASDAQ: WYNN) and TwinSpires, owned by Churchill Downs, Inc. (NASDAQ: CHDN).
Michigan also recently approved sports betting and online poker from Fox Bet, which is partially owned by Fox Corp (NASDAQ: FOX) and Flutter Entertainment.
Early App Data: Michigan is expected to release official sports betting figures in late February. Bank of America analyst Shaun C. Kelley is out with some early data about the companies that launched online sports betting and iGaming in Michigan.
App download data shows DraftKings and FanDuel as the early leaders in the state with 40% and 27% market share, respectively. Barstool Sportsbook and BetMGM fought it out for third place with 14% and 13% of app downloads, respectively.
The app downloads showed lower numbers from William Hill, PointsBet and TwinSpires. BetRivers offered an online download and not a mobile app, so downloads were not reported.
Kelley sees Michigan market share shaking out to 30% share for each of FanDuel and DraftKings, and 10% to 15% each for Barstool Sportsbook and BetMGM. Others could have single digit market share, according to Kelley.
Benzinga’s Take: As you can see, the betting platforms tested offered some large incentives to get users to sign-up as well as place bets on Michigan-related teams.
The question will now turn to which app is the best and easiest to use and which one users stick around for.
The early results show sets of tiers for the sports betting players in Michigan. DraftKings and FanDuel look like early winners, followed by Barstool and BetMGM. The race could be for third place, then shaking out if any other app can gain 5% share in the state.


An Updated Legal Structure Helps Expand Online Betting Options.
News provided by.
Feb 03, 2021, 09:00 ET.
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NEW YORK , Feb. 3, 2021 /PRNewswire/ -- Two major segments of the online gambling industry are online gaming (i-gaming) and sports betting. Both have proved to be a pandemic proof segment. The sports betting segment in particular has benefited from a continuously improving and friendlier legal infrastructure. For example, a report by the Chicago Sun-Times indicated that New Jersey gamblers set a nationwide record for the most money bet on sports in a single month, spending almost USD 668 Million in August on events including resurgent baseball, basketball and hockey seasons that had been interrupted by the outbreak. As a result of the evident spike in demand, Morgan Stanley reported that it now projects that the domestic sports betting industry will reach revenues of about USD 7 Billion by 2025, a major increase from the USD 5 Billion projected in June 2018 and reiterated last December, Casino.org reports. FansUnite Entertainment Inc. (OTC: FUNFF) (CSE: FANS), International Game Technology PLC (NYSE: IGT), Scientific Games Corporation (NASDAQ: SGMS), Boyd Gaming Corporation (NYSE: BYD), Churchill Downs Incorporated (NASDAQ: CHDN)
The shift to a more favorable attitude towards online gambling services is visible across the board. According to data published AGC, nearly 7 in 10 (69%) Americans say that gaming provides a positive benefit to the U.S. economy and 63% agree that the industry provides high-quality jobs. At the local level, 69% say that the industry behaves responsibly in the communities. "Voters are also aware of the importance that gaming tax money plays in funding vital public services, as 76% of voters believe that the industry's tax payments to state and local governments will become even more important in the future due to COVID-related budget shortfalls," the report indicates.
FansUnite Entertainment Inc. (OTC: FUNFF) (CSE: FANS) and Vancouver -based OneComply Inc. announced last month that they have, "entered into a partnership. OneComply, a compliance and licensing solution, will assist FansUnite as they enter additional North American legalized gaming jurisdictions by advising on protocol and strategy.
This move follows the June 2020 announcement by FansUnite of the amalgamation with Vancouver -based Askott Entertainment Inc. to create one of Canada's leading online gaming companies, focused on sports betting, esports wagering, and casino games.
'We are pleased to be partnering with OneComply as we look to tackle the North American gaming market,' said Scott Burton , CEO of FansUnite. 'As a licensed betting and iGaming company, we understand how difficult and nuanced the licensing process can be. With the help of OneComply, we will be able to streamline the process to enter new North American markets and showcase our suite of gaming solutions to a broader audience.'
The repeal of PASPA, being the Professional and Amateur Sports Protection Act, has created a wave of newly regulated States across the United States' gaming market. Companies seeking to gain market entry into these States face massive regulatory processes to obtain operational licenses. The United States legalized gaming industry is State-regulated, meaning companies need to file for each jurisdiction independently. These individual disclosure filings can be thousands of pages in size resulting in substantial internal and external expenses.
'The amount of opportunity in North America for new-to-market companies can be overwhelming given the various licensing processes and jurisdictional requirements, with companies no longer trying to enter one jurisdiction, but multiple jurisdictions simultaneously. This creates a tremendous amount of lag in productivity even with the most seasoned of compliance and legal teams,' said Cameron Conn , CEO of OneComply Inc. 'We understand the importance FansUnite places on regulation, and we look forward to supporting them scale in the North American market.'"
International Game Technology PLC (NYSE: IGT) announced last year that its leading PlaySports platform will power world-class retail sports betting at Maverick Gaming's three Colorado -based casinos as well as interactive sports betting throughout Colorado via Play Maverick Sports. Through a multi-year agreement with Maverick Gaming, IGT will provide its proven PlaySports turnkey solution including user-friendly self-service PlaySports kiosks, to Grand Z Casino and Johnny Z's Casino in Central City, Colo. and Z Casino in Black Hawk, Colo. The IGT PlaySports platform, complete with a fully integrated Player Account Management (PAM) solution, will also power Maverick Gaming's "Play Maverick Sports" mobile sports wagering app.
Scientific Games Corporation (NASDAQ: SGMS) announced last year that it is partnering with Genius Sports Group, a leading provider of sportsbook management solutions, to provide in-game content to its wagering customers worldwide, excluding U.S. leagues. Sportsbooks operating on Scientific Games' OpenSportsTM platform will gain access to Genius Sports Group' LiveData and LiveTrading services, trusted by over 150 of the world's largest wagering brands and fully customizable for every customer. Genius Sports Group and its sports betting division, Betgenius, created the market for official data across all tiers of sports and today offer partners access to official data for over 170,000 events each year.
Boyd Gaming Corporation (NYSE: BYD) and FanDuel Group announced in September the debut of the FanDuel Par-A-Dice Sportsbook in the state of Illinois . Sports bettors across the state of Illinois now have access to FanDuel's industry-leading online and mobile sports-betting platform, with wagering options available in professional football, basketball, baseball, hockey and more. Additionally, FanDuel will operate a retail sportsbook located at Boyd Gaming's Par-A-Dice Casino in East Peoria, Illinois , pending regulatory approval. Keith Smith , President and Chief Executive Officer of Boyd Gaming, said: "Given the tremendous success of our existing FanDuel Sportsbooks, we are confident that the FanDuel Par-A-Dice Sportsbook will quickly become Illinois sports bettors' mobile app of choice. We are excited for the opportunity to offer both mobile and retail sports betting in one of the most populous states in the country, as we continue to expand our strategic partnership with FanDuel Group."


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