Sports betting handle rises in Mississippi

The Mississippi Gaming Commission (MGC) has reported the financial information from September operations. During last month’s activity, sportsbooks in the state registered an increased sports betting handle, which rose 19.2% to US$37.9 million.

September’s handle exceeded US$37.8 million, which is the highest figure for Mississippi in 2019. During the previous eight months, the state averaged US$22.2 million in sports betting handle. September 2019 also became the second most profitable month in Mississippi’s sports betting’s history, only behind December 2018.

Sports betting

Of the US$37.8 million in handle the sportsbooks totalled US$5.6 million in revenue before sending US$$50k to the state government and US$225k to the cities that host the sportsbooks.

The MGC said that the coastal region is still the largest source of handle and revenue, with US$25.4 million wagered and a 14.7% rise from 2018. The percentage win declined to 13.9%, therefore making revenue fall 10.2% to US$3.5 million.

The facilities registered US$9.9 million in sports bets in August, a 48.5% improvement from July. Bets on football rose 792% from July to US$6 million and 152% from August 2018 to US$1.8 million. Handle also posted a significant improvement of 347% year-on-year. The kick-off of the college sports season fueled Mississippi’s sports betting industry in August.

The majority of the bets took place in coastal casinos, which registered US$13 million and obtained US$1.8 million in revenue. Approximately 65% of the bets were placed at the Coastal region in Mississippi.

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Peter Davidson

Peter Davidson

Editor Peter Davidson co-founded the Chester Report and the Financial Express. He writes the Chester Report’s weekly “Business Blog” about small business opportunities and “The Editor Talks With You,” a conversation about anything he and his readers are interested in.

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