In November, Mississippi’s sportsbooks had their best month since they started offering legal sports gambling in August. On Thursday, the Mississippi Gaming Commission released a revenue report announcing that sportsbooks from all over the state took in $44.5 million in handle for the month of November, which is a big difference from the $32.8 million they took in during the month of October. The vast majority, $27.9 million, of November’s handle amount came from football betting.
As for other sports, $1.4 million came from “other” sporting events, $7.3 million came from parlay cards, and $8.1 million in handle was placed on basketball.
After the Supreme Court overturned PASPA, the federal law banning sports betting outside of Nevada, a flurry of states moved to legalize sports gambling. Mississippi was the third such state, opening its sportsbooks in August. When 20 sportsbooks were open for the full month of September, they brought in a combined handle of $31.8 million.
As for the regions that brought in the most money, casinos and sportsbooks along the Mississippi Gulf Coast led the state, bringing in a handle of $27.7 million in November. Tunica and the surrounding Northern area brought in $10.4 while the Central region brought in a handle of $6.4 million.
In the Magnolia State, bettors can only place wagers in person, or via a mobile app while physically onsite at a casino or sportsbook. Should Mississippi legalize online and mobile betting from anywhere within the state, chances are high that MS will see revenue sharply increase.
For example, in New Jersey, which was the second state to legalize sports betting after the Supreme Court decision, mobile betting is statewide. In November New Jersey’s total handle was $330.7 million, of which $238.6 million was mobile. This means that in-person bets only came to around 28 percent of the handle.
Football bettors kept up with the winning trend, especially on the Gulf Coast. The hold was only 1.4 percent, which was down 0.88 percent from October. Bettors along the Gulf Coast also did well on parlay cards, leaving the sportsbooks with -2.5 percent hold. Basketball resulted in an 11.5 percent hold and a hold of 12.9 percent on other events meant that the overall total was positive.
This resulted in a total of $1.67 million in taxable sports betting revenue for Mississippi, which is up from $1.18 million in October. However, November’s taxable revenue was a huge drop from September, where the state’s sportsbooks had a hold of 17.3 percent ($5.5 million in taxable revenue). Going by the trends so far, it appears that Mississippi’s hold will likely average out at about five to seven percent going forward until they legalize mobile sports betting.
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