Mississippi Sports Betting Revenue Hits $8.1M in November

In November, Mississippi sports betting generated $8.1 million in sports betting revenue.

The November figures show a significant increase in tax revenue for the state, with sports betting revenue having more than doubled year-on-year in November. However, betting revenue saw a slight dip month-on-month as Mississippi raised $8,108,101.87 in sports wagering revenue, reflecting an 8.1% decrease in revenue from $8.8 million reported in October’s record-breaking figures.

There is a similar trend in sports betting handle. After witnessing a state record for monthly handle in October, Mississippi sports betting posted $54.4 million in November. The November report represented an 11% decrease in handle from October’s peak total of $61.2 million and down 3.4% from what the state posted during the same period last year. That being said, although revenue showed an upward trend in November, sports betting handle dipped 3% compared to what Mississippi sports betting saw in November 2019.

Performance by Region

The Mississippi Gaming Commission places the state’s casinos and sportsbooks into three different categories on the basis of their location: coastal, central, and northern:

  • Coastal casinos drew the lion’s share of the sports betting revenue in November, with establishments in the region churning out $4.4 million in revenue from roughly $36 million in bets.
  • Northern casinos, with $10.3 million in bets, managed to generate little more than $2 million in revenue.
  • Casinos in the central region could generate $1.6 million in revenue from $8.2 million in sports betting.

The hold across the state for sports betting was uniform 14.89% in November.

Performance by Sport

Once again, football retained its position as the most popular sport among the Mississippi bettors during November. All sports betting venues in the state took a combined $35.3 in wagers for the sport. From the combined bets placed on football, operators managed to draw $5.3 million in revenue.

In second place came the parlay card, which drew bettors’ attention for the most part of November, with venues generating $2.2 million in revenue from the total parley bets that amounted to $7.3 million. Basketball was the near rival, with operators taking $2.3 million in wagers and holding onto $348,000.

Will Mobile Sports Betting Expand?

The casinos in the Magnolia State became one of the first states to accept legal bets when it began doing so in August 2018. Currently, Mississippi only allows mobile sports betting on the venue of one of their 26 casinos. Once off the property, the bettors are now allowed to wager. However, in early December 2020, the Mississippi Senate Gaming Commission discussed broadening the existing sports betting law in the state.

Unfortunately, previous attempts to extend mobile sports betting proved futile. Three state House bills (172, 941, 959) seeking to expand online sports betting stalled in 2019 without floor votes. That being said, with other states such as Tennessee launching the first mobile-only sports betting market on November 1, Mississippi could feel the pressure to amend the law, particularly since Louisiana voters nodded to sports betting on November 3 and will be looking to devise its regulations and tax rate in 2021.

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