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June Brings Significant Revenue Increase For Mississippi Sports Betting
July 25, 2019 Kristina Vujadinovic
Mississippi’s regulated sports betting market was booming throughout the month of June. The revenues increased by 35.4% month-on-month during this period.
Considering that the state saw a 12.7% decline in amounts wagered, this result is even more significant.
Total sports betting revenue amounted to $1.6m in June, which is much higher comparing to the total of May’s revenues of $1.2m.
However, the collective handle for the state’s central, coastal and northern regions slipped from $17.4m to $15.2m, according to figures issued by the Mississippi Gaming Commission.
It All Came Down to Land-Based Casinos
The main source of income was once again the Mississippi coastal casinos…
… generating $709,901 from $9.0m in wagers – a win percentage for the casinos of 7.90%.
While the revenue was up month-on-month from $626,283 in May, but wagers were down from $11.0m.
Elsewhere, casinos in Mississippi’s northern region posted collective revenue of $549,847 in June.
$4.3m in wagers is quite an increase across the board comparing to May’s revenue of $260,190.
Central casinos remain some way off the pace in of sports wagering after posting collective revenue of $113,920.
From $823,939 in bets during June, this represents a significant fall on $305,494 in revenue and total wagers of $2.5m in May.
The Most Interesting Sports for Wagers
During June, baseball was the most popular sport to bet on at coastal casinos.
It was mainly due to North America’s Major League Baseball season currently being in full swing. Basketball was a close second, while the football didn’t pique the interest of many players.
Here’s how that looks in numbers:
- Baseball – $5.8m spend on betting
- Basketball – $1.5m in total wagers
The gap between baseball and basketball betting was also evident in the north. Baseball was long ahead with wagers of $2.2m, compared to basketball at $696,070.
Betting patterns were again similar in the central region. Baseball had a total of $1.1m wagered last month, ahead of basketball with $852,527.
Things Are Looking Up
So far, March was the most successful month for Mississippi sports betting.
Due to the March Madness sporting event, the revenues were increased significantly compared to the previous months.
The total wagering amount made an impressive 28.9% leap on a monthly basis, up to $32.4 million. Basketball was the key contributor to overall good results during this month, as it ed for $25 million of total bets – or 77%.
Unfortunately, that trend didn’t last for long. April brought a decrease in revenues that continued to decline all throughout May.
However, the table was turned on June with a revenue increase of 35.4%. Major League Baseball was the event which collected the biggest amount of wagers, putting baseball before the basketball first time in a while in this state.
It’s yet to be seen if the Mississippi sports betting revenue increase in June will continue in the following months.
Source:
“Mississippi Sports Betting Revenue Increases in June 2019”, europeangaming.eu, July 23, 2019.
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