Mississippi wagering market sees revenue soar in December

18 January 2019

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.