Mississippi December Sports Betting Figures See Decline
LISTEN TO THIS ARTICLE:Several states in the US have released their December sports betting results, which showed a year-on-year upward trend in their sports betting handles and revenues for the month. However, the case was the opposite in Mississippi.
In December, players in the Magnolia State wagered a total amount of $48.9m, a decrease of 34.3% from the $74.4m recorded in the same month in 2022. The handle also dipped 21.6% compared to the $62.4m wagered in November 2023.
The decrease in handle resulted in a lower revenue year-on-year for operators in the month at $4.9m. The figure marked a decline of 56.6% from the previous year's December figure of $11.3m. Interestingly, the December revenue was 58.1% higher than the $3.1m generated in November 2023.
Coastal Casinos Maintain Lead
Players in Mississippi continued to favor land-based casinos for their bets and this was reflected significantly in the state’s December betting results. Coastal casinos generated $2.4m in revenue off a handle of $31.6m.
Breaking it down further, American football was the most preferred sport by bettors at these coastal casinos, accounting for $14.5m of the total bets. Basketball was next with $7.7m in bets, while players wagered $4.9m on parlay bets.
On the other hand, central casinos received $11.0m in wagers, which yielded $1.7m in sports betting revenue. Parlay bets amounted to $4.7m, followed by basketball bets at $3.6m. American football bets accounted for $2.6m.
In northern casinos, Mississippi players spent $6.3m on sports betting in the month. $2.9m was wagered on American football, while $1.8m went to basketball betting. Lastly, Parlay cards attracted bets amounting to $1.5m. The state’s win percentage for the month was 10.0%.
Mobile Betting Expansion Discussion
Mississippi’s sports betting market went live in August 2018. However, sports wagering, either physical or online, is only restricted to casino premises. As such, only casinos can obtain licenses to provide sports betting services in the state.
Last October, a panel of lawmakers in the jurisdiction investigated the different issues involved in expanding mobile sports betting. Jay McDaniel, the Executive Director of the Mississippi Gaming Commission, spoke to the legislators on several issues that need to be considered before expanding online betting in the state. Some of the areas he touched on include tax rates, distribution of the money generated from the sector, and more.
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