- Over $1,000,000 has been contributed to the state’s general fund since the start of the year.
- Mississippi posted their lowest handle ($19.1 million) since its August launch month.
- Sports betting revenue exceeded $2 million for the month of April.
JACKSON, Miss. – With football season over, the focus for gamblers has switched to over basketball. Touted as the second most viewed and wagered-on sport, the April sports betting revenue numbers for Mississippi reflected just that.
Over $67 million has been bet on basketball in Mississippi since the start of the year, with over $9 million of that occurring in April. Since Mississippi began legal sports betting, basketball wagers are now only $11 million shy of surpassing the $100 million mark.
But the focus may have also shifted towards parlay cards as well. Granted they are harder to win – posting a higher hold percentage for the sportsbooks – but more revenue was created from parlay cards than basketball betting in April.
During the month, almost $555,000 was kept by the books from parlays. Basketball revenue accounted for about $10,000 less, despite taking in almost $6.5 million more in bets.
However, across the board, it was a very even month in terms of Mississippi sports betting revenue. After parlays and basketball, baseball betting was responsible for over $537,000 in revenue followed by the “other” category (tennis, golf, hockey, etc.) taking in almost $435,000. These combined to give the Mississippi sportsbooks $2.05 million in total revenue – their fourth-lowest monthly total.
It didn’t matter too much that the books recorded their highest hold percentage (22.23%), as the total handle was only $19.1 million – the lowest amount wagered in Mississippi since their August launch.
The coastal region along the Gulf of Mexico held their dominance over Mississippi sports betting, taking in 61% of all wagers. This group of sportsbooks was also responsible for 55% of all revenue.
The central region, comprised mainly of the tribal casinos, touted a total handle of $2.8 million, while the northern region (Tunica) saw $4.5 million wagered at their venues.
In a slower month, the state government was able to collect $165,728.87 in tax contributions, while the cities that host the sportsbooks were able to take in $82,864.43.
Since the year began, the state’s general fund has collected $500 north of $1 million. For the cities, they have seen just over $500,000 enter their books. A big thanks can be given to the month of March, which has accounted for 39% of that total.
Moving forward, the focus for May’s revenue numbers will consist of bets on the NBA Playoffs, NHL Stanley Cup Playoffs, PGA Championship, Indianapolis 500, and the French Open.
