Mississippi betting market hits new heights in October
Mississippi’s sports betting market has enjoyed its strongest month since launch by far, with revenue hitting $12.3m in October.
Handle for the month climbed to $48.0m, with the state benefitting from a remarkably high hold of 25.60%, compared to a win percentage of 3.59% in October of the prior year according to figures from the Mississippi Gaming Commission..
This allowed the state to generate its largest monthly revenue total, with the $12.3m representing a significant hike on the $5.6m generated in September, and a massive leap on the $1.2m generated in October 2018.
The vast majority of revenue and handle came from Mississippi’s coastal casinos, which accounted for $33.4m of handle (69.6% of the market total) and $10.0m (81.6%) of revenue. This was largely down to casinos winning $6.4m from baseball stakes of $10.1m, suggesting a hold percentage of 62.89%.
Football betting was the source of the most activity, with customers staking $18.1m, from which the casinos held $2.1m, or 11.70% of amounts wagered. While just $1.1m was wagered on basketball, casino held $932,704.51, suggesting an 83.52% hold. However, it is unclear if these include bets on future events.