Mississippi Sports Betting Handle and Revenue Decline in March
Mississippi has reported a sports betting handle of $44.5m in March, a decrease of 4.7% from the $46.7 million wagered in the same month in 2023.
Mississippi posts a sports betting handle of $44.5m and revenue of $3.4m in March 2024. (Source: Pixabay)
LISTEN TO THIS ARTICLE:However, compared to month-to-month, the handle was an increase of 41.7% compared to the $31.4 million bet amount in February.
In the month, revenue also declined year-on-year to $3.4m. While the figure fell 32.0% behind March 2023’s haul of $5.0m, it was 47.8% higher than the $2.3 million generated in Mississippi in February this year.
Coastal Casinos Remain Players’ Favorite Location
In terms of betting locations, coastal casinos in Mississippi continue to be the top choice among players. In March, these casinos saw $30.2m in bets and generated $1.9 million in revenue.
Basketball attracted the highest bets at coastal casinos, accounting for $20.2 million of the total bets and $343,648 in revenue. However, the highest revenue came from parlay cards at $728,221, from a $4.0m handle.
Central Casinos claimed second spot with $8.9m in sports bets and $1.0m in revenue. Basketball was also popular at these locations, with $4.5m in bets. Similarly, parlay bets got the highest revenue at $584,612 from $4.0m in bets.
Northern casinos attracted player spending of $5.5 million and earned $468,058 in revenue. Basketball accounted for most of the betting activity, with $3.7m in bets and $249,668 in revenue.
More Finance News
Caesars Launch Mobile Sportsbook
Earlier this month, Caesars Entertainment unveiled its mobile sports betting app at Harrah’s Gulf Coast Hotel & Casino.
Mississippi users can download the app and wager on their favorite sports. However, due to an existing rule that limits placing mobile bets inside casinos, users will have to be physically present at Harrah’s Gulf Coast to wager on the mobile sportsbook.
New Bill to Legalize Full Mobile Sports Betting Market
A new bill is being discussed in the Mississippi legislature that could open up the market to more operators and allow residents to place mobile bets anywhere in the state.
HB 774 aims to legalize mobile wagering throughout Mississippi and allow 26 licenses linked to commercial casinos in the state.
The bill cleared the House on February 1st and advanced to the Senate on February 5th.
At the beginning of the month, Mississippi’s senate gaming committee updated the bill with codes used in the house without changing the text in order to keep it alive until the next legislative session.
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