It looks like February didn’t end up being the lucrative sports betting revenue maker it was hoped to be in the state of Mississippi. The numbers have been released and they paint a large drop in the amount of revenue that sports betting brought in. Revenue fell by 25% in comparison to the year past.
Not only that, but it dropped by 54.4% from January 2020. The information was officially made public by the Mississippi Gaming Commission and it painted a less than glowing image of the industry.
Breaking Down the Sports Betting Numbers
As for the specifics, February 2020 generated $2.1 million in revenue whereas February 2019 generated $2.8 million. It’s a substantial difference, and one that was very evident.
Experts blame the sharp decrease to the completion of the NFL season in February, especially since football wagering is responsible for 68% of the total sports bets placed within the Mississippi casinos. That works out to roughly $25.7 million worth of wagering on America’s most popular sport.
But, that leads to the question of what about the other sports that were taking place in February?
Outside of football, there was also the NHL and NBA. The problem is that Mississippians seem quite set in their ways and they are all about football in the state. It’s not to say they don’t watch or follow any of the other sports, it just seems that football is the one that pushes them the extra distance to place a wager on.
As for the trends in where the betting was taking place in the state, the main source of revenue proved to be the coastal casinos. These establishments brought in about $955,000, which was down 31% from the year before.
A Move Towards a Mobile Betting Platform
Right now, the only way that Mississippians can place a sports wager is to visit a land-based sportsbook at the various licensed casinos. With that said, a sports betting bill has been revived in order to make mobile sports betting legal. This move alone could help drive up the revenue.
Currently, sports betting apps such as these are only permitted on a licensed casino property. With the proposed legislation it would allow statewide sports betting as long as it was being done on the approved mobile platforms.
Of course, this appeals to the whole convenience factor as people wouldn’t have to travel to the casino in order to get in on the sports betting action.
Mississippi has a very strong sports betting expereince, making its mark in the history books as one of the first states to legalize sports betting once the Supreme Court overturned PASPA in May 2018.
This paved the way for states to then move towards legalizing sports betting if they chose, and Mississippi didn’t waste time making sure to pass legislation early and quickly. Currently, there are 29 sportsbooks that are available in the state with 11 different operators.
As a longtime freelance writer, avid sports fan, former athlete, and experienced sports bettor, Rick Rockwell has risen up the ranks at GamblingSites.org to become the self-professed "King of the Blog" in his first year with the site. ...
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