Revenue was down 32.0% from $5.0m in March 2023. However, the monthly total was 47.8% ahead of $2.3m in Mississippi in February this year.
The year-on-year drop in revenue came despite only a small decline in handle. In March, Mississippi players spent $44.5m betting on sports, down 4.7% from $46.7m in 2023.
On a month-on-month basis, handle was 41.7% ahead of the $31.4m wagered in February.
As for where players are betting, coastal casinos in Mississippi remain the most popular venues. During March, $30.2m was bet at casinos in coastal areas, resulting in $1.9m in revenue.
Of all wagers placed at costal casinos, $20.2m were on basketball, generating $343,648 in revenue in the process. However, the most revenue came from parlay cards, with $4.0m in bets leading to revenue of $728,221.
Central casinos processed a total of $8.9m in sports wagers, generating $1.0m in revenue. Again, basketball drew the most bets at $4.5m, but $4.0m parlay card bets drew the most revenue at $584,612.
As for northern casinos, players spent $5.5m, with revenue at these venues hitting $468,058 in March. Basketball was the main source of activity, attracting $3.7m in bets and generating $249,668 in revenue.
Mobile sports betting launches in Mississippi
March was the final month of a retail-only market in the state. Earlier this month, Caesars Entertainment launched its mobile sports betting product at Mississippi-based Harrah’s Gulf Coast Hotel & Casino.
Players can download the Caesars Sportsbook Mississippi app and place bets. Wagering via the app is only permitted while users are physically present at Harrah’s Gulf Coast.
A retail Caesars Sportsbook facility at the casino has been taking bets at Harrah’s Gulf Coast since 2018.
Players in Mississippi remain limited to placing mobile wagers inside casinos partnered with an online operator. BetMGM is among other online brands that have such a deal in place, working with MGM Resorts International’s Beau Rivage.
However, a new bill could change this and open up the market. HB 774 would permit mobile wagering anywhere inside the state and allow 26 licences, each tethered to commercial casinos in Mississippi.
The bill passed the house on 1 February and moved to the senate on 5 February. However, it is yet to move further forward and time is running out, with the legislative session due to conclude on 5 May.
Original article: https://igamingbusiness.com/sports-betting/mississippi-sports-betting-revenue-march/
