High hold helps MS betting revenue double in December
Amounts wagered were up 12.7% from December 2019 at $55.3m, though casinos’ hold rate jumped from 7.09% in the prior year to 14.04%, according to the Mississippi Gaming Commission figures.
This significantly increased operators’ revenue, which increased from $3.5m in December 2019, to $7.8m – a 123.1% improvement.
Compared to November 2020, handle was up marginally, rising 1.6%, though November’s win percentage of 14.89% surpassed December’s rate, meaning revenue actually fell 4.3% month-over-month.
The state’s coastal casinos remained the main driver of staking and revenue, accounting for $37.6m of amounts wagered, and $4.9m of total revenue.
Football was the most popular sport at the coastal properties, with customers staking $19.7m and casinos left with revenue of $2.5m after winnings. Basketball followed with handle of $10.2m, though parlay cards – thanks to a 28.40% win percentage – generated higher revenue of $847,981.
Casinos in central Mississippi followed, with customers wagering $8.9m, from which the operators generated revenue of $1.7m.
The northern casinos, meanwhile, reported handle of $8.8m, which left revenue of $1.2m after customer winnings.