Mississippi wagering market sees revenue soar in December

Mississippi wagering market sees revenue soar in December

Friday, January 18, 2019 Posted by News Team

Mississippi’s regulated sports betting market enjoyed its strongest month since launching in August, with revenue for December rising to $6.2m (£4.8m/€5.4m).

Revenue soared from November’s total of $1.7m, despite handle falling 6.1% month-on-month to $41.8m, according to figures released by the Mississippi Gaming Commission. The state’s win percentage for the month rose sharply to 14.78%, lower than the highest total of 17.3% reported in September, but far higher than average hold in other US sports betting markets. The market only permits in-person wagering at the state's land-based casinos.

The strong monthly performance was driven primarily by the state’s coastal casinos, which accounted for $3.8m of revenue (61.4% of the market total), and $27.3 (65.4%) of amounts wagered.

The vast majority of bets in this region were placed on American football, with $15.3m wagered on the sport, from which the casinos generated revenue of $1.9m.

Coastal casino patrons wagered a further $7.3m on basketball, though won heavily, meaning the venues generated revenue of $405,202.66 on the sport, a win percentage of 5.54%.

Sports parlay cards also proved popular in the region, with customers wagering $3.2m, and the casinos accruing $1.3m in revenue from the segment. With a win percentage of 40.01% for this product, it was the most lucrative for operators in the state.

Misssissippi’s northern casinos, meanwhile, generated revenue of $1.5m from handle of $9.1m, with football again the most popular betting sport. Customers wagered $4.4m on American football at the northern venues, generating $5584,048.76 in taxable revenue.

Parlay cards again proved popular, accounting for $2.7m of regional handle and $698,060.14 of revenue.

The central region was the smallest in terms of handle and revenue, but still grew significantly from November. Customers wagered $5.4m, with central casinos’ win percentage of 16.79% allowing them to accumulate revenue of $906,129.83.

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