The first-ever revenue report on Mississippi sports betting indicates a promising future for wagering in the Magnolia State, especially as football ramps up.
Casinos took nearly $6.3 million in sports bets in August, the inaugural month for Mississippi sports betting. That total handle led to more than $644,000 in revenue for Mississippi casinos and a tax haul of more than $77,000 for the state.
State casinos held more than 10 percent of wagers, a fantastic number compared to Nevada‘s historical average of more than 5 percent. Football hold in particular jumps out, with regional win as large as 26.8 percent in the northern part of Mississippi.
|Overall August handle||$182,971||$4,363,798||$1,721,859||$6,268,629|
Mississippi taxes its gaming revenue at 12 percent, with 8 percent going to the state and 4 percent designated for local municipalities.
Only 11 of the state’s 28 casinos participated in the opening month of Mississippi sports betting, most for only part of August. That leaves major potential for growth in the coming months as more operators come online.
A deeper look reveals the real story
Nothing pops out about the August 1-31 numbers in Mississippi sports betting. Add in the first three days of September though, and you can see where business is headed.
Mississippi Gaming Commission executive director Allen Godfrey confirmed to Legal Sports Report that total handle for August 1 through September 3 was $9.8 million. That means roughly bettors put up nearly $3.5 million in just the first three days of September, or better than half of the total handle from August.
No surprise there, as the start of September brings the start of college football, which is expected to drive Mississippi sports betting revenue. With another four weekends of college football in September, as well as a full slate of NFL games, expect Mississippi’s numbers to boom next month.
No mobile in Mississippi sports betting either
When comparing the initial returns in Mississippi sports betting to those in other states, keep in mind that the state does not offer online or mobile sports betting. That means bettors had to travel to one of Mississippi’s casinos to place their wagers.
Limited mobile sports betting will be available at some point this year. State regulations allow for mobile sports wagers while on the grounds of a casino. That will be enforced by geofencing that uses your phone’s location technology to determine where you are while trying to bet.
The post First Month Of Mississippi Sports Betting Doesn’t Tell The Whole Story appeared first on Legal Sports Report.