Mississippi's Sports Wagering Records Best Month Yet

Sports betting gross revenue in Mississippi continues its upward trajectory as the state’s regulated market produces its most lucrative period since August’s launch. In December, the total take in this gaming branch amounted to $6.2 million!

Despite a smaller intake of money placed in wagers (falling to $41.8, month-on-month)…

…the overall revenue skyrocketed – according to Mississippi Gaming Commission and the figures they’ve released, monthly win percentage made a 14.78% leap which is a hold much higher than the average in other US markets.

With no online betting, in Mississippi, it is only possible to place in-person bets in land-based casinos.

More Than Half Generated on Coast

The most popular sports league in of the amount of wagers placed was, quite as expected, the NFL – it contributed with $15.3 in money wagered, with a total casino turnover from it being $1.9 million.

61.4% of the market’s total – $3.8 million – was generated by coastal casinos! In them, 65.4% of wagered amounts took place.

After American football, basketball was the second most popular sport – punters spent $7.3 million betting on basketball games and were mainly getting it right, as casinos only made $405,202 from this sport.

The most lucrative form of sports wagering were sports parlay cards…

…In total, $3.2 million was placed in bets with casinos earning $1.3 million from that for a win percentage of 40%. Northern casinos generated $1.5 million in revenue with punters placing $9.1 million on bets.

The weakest results were recorded in the state’s central regions – with $5.4 million wagered by customers, casinos managed to amass a profit of $906,129.83.

Unexpectedly Popular Market

The case of Mississippi’s sports wagering is quite possibly one of the more surprising success stories…

…An unusually big number of operators have either expressed their ambition to launch or have already launched a sportsbook there: Caesars, in conjunction with Scientific Games and DraftKings all rolled out their respective products.

Midway from August until now, in October, saw its sports betting handle rising but revenue falling – by as much as 75%!

Compared to September’s take of $5.3 million, $1.18 million was a shockingly low result. No official reasoning was given as to why these big bounces happen, but they do: these increases and decreases are a fact, not only in Mississippi – something similar has happened in New Jersey as well.

However, with a much bigger handle due to online and mobile wagering being legal, such fluctuation are not that much of an issue for NJ.

Source:

“Mississippi wagering market sees revenue soar in December”, igamingbusiness.com, January 18, 2019.