Boost for Mississippi Revenue

The betting sector in the US has been booming since the Supreme Court decision in May 2018 to legalise sports betting and more evidence of this growth was provided on Friday when the latest set of figures for the gambling industry in the state of Mississippi were released.

The numbers released by the Mississippi Gaming Commission show that betting revenue in the state more than doubled based on the same total last year, although there was a drop off from the figure for revenue recorded the month before.

The report shows that the combined total generated by casinos in the state’s coastal, central and northern areas reached $3.8 million during the month November, which represents a 126.0% rise on the figure recorded for the same month last year. And the total amount of money wagered by Mississippi betting customers also rose, by 26.7% to a total of $56.4 million.

Coastal casinos once again recorded the biggest share of both gambling revenue and betting stakes. Combined, these betting venues generated 64.3% of the overall market total, at $2.4 million, up by an impressive 532.1% from November 2018. Most of this increase came through betting on American football, which provided $24.3 million in wagers and $1.4 million in revenue.

Casinos in the north of the state also enjoyed an increase, with handle rising to $13.5 million, a rise of 24.9% down mainly to more betting in the basketball and football sectors. Overall revenue for the northern casinos came in at $939,951.33, which represents a slight year-on-year rise.

Central casinos in the state fared less well, experiencing only a light growth in handle, and there was a fall back overall in Mississippi from the $12.3 million of revenue generated in October, although that was a record high for the sector in this state.

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