Mississippi Sports Betting Landscape Shows Year-on-Year Rise
LISTEN TO THIS ARTICLE:In January 2024, the state of Mississippi recorded a year-on-year handle decrease of 22.0% to $44.6m. In dollar terms, the handle was $12.6m lower than the $57.2m posted in January 2023. It also fell 8.8% behind the $48.9m wagered in December 2023.
Interestingly, despite the decline in total wagers, the Magnolia State witnessed an increase in sports betting revenue year-on-year. The state generated a monthly revenue of $6.7m in January, 31.4% higher than the $5.1m earned in the same month last year. The figure also surged 36.7% compared to December’s $4.9m.
Coastal Casinos Handle $29.1M in Wagers
Coastal casinos have led the retail betting market in Mississippi for some time, and January was no exception. In the month, retail sportsbooks at coastal casinos saw around $29.1m in bets, with $4.0 million in revenue.
American football was the most popular betting option at these establishments, accounting for $12.0m in wagers and $1.6m in revenue. Central casinos received wagers totaling $9.1m and generated $1.5m in revenue. Parlay bets accounted for most of the revenue at $1.1m from a handle of $4.0m.
Northern casinos were third, with a combined handle of $6.4m and revenue of $1.2m. American football also gathered the highest value of bets at these casinos at $2.1m. It also contributed the highest revenue, amounting to $631,180.
Mississippi Mulls Online Sports Betting
Currently, only retail betting is legalized in Mississippi. However, state lawmakers are reviewing multiple bills that could lead to the legalization of online sports betting.
Earlier this month, a new bill that proposed an extension of the current Mississippi sports betting market to include online wagering was approved by the House and has now been moved to the Senate.
The bill allows all 26 land-based casinos in Mississippi to offer online sports betting. Each casino is restricted to partnering with a single licensed platform for wagering alongside any existing retail sportsbook they may have.
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