Mississippi sports betting revenue plummets in October
Mississippi’s sports betting market fell back to earth with a bump after a stellar showing in September, with October revenue declining sharply.
Having posted revenue of $5.5m the previous month, revenue for October fell to $1.2m, due in part to the state’s coastal casinos losing heavily on football betting.
Customers wagered $32.8m over the month, which represented a slight month-on-month increase in handle.
The coastal casinos lost $600,798 from betting on football in October, having generated revenue of $2.9m from the sport in the previous month. Coupled with declines in revenue for the northern and central casinos, the state's sports betting operators posted a total loss of $330,877 from the sport, which had accounted for 72% of total market revenue in September.
Due to the heavy losses from football betting, Mississippi’s coastal casinos went from being the main source of revenue in the market to the smallest. Revenue from betting across all sports fell to $214,454 for the region, with growth in basketball revenue ($289,949) and baseball ($166,766) offset by the losses from football betting and a decline in revenue from parlay betting, which fell from $981,065 in September to $276,182.
This allowed the state’s northern casinos to take over as the largest source of sports betting revenue. However, the monthly total of $547,047 was still down 51% month-on-month, again due to declines in revenue from betting on football and parlay wagering, with customers wagering $7.7m in the region.
The state’s central sportsbooks generated revenue of $416,843, an 11% month-on-month fall, on a handle of $3.4m.