Mississippi’s regulated sports betting market has posted another month-on-month decline, with total revenue down 42.1% to $1.2m in May.
Total handle across the state’s northern, coastal and central regions fell 9.1% to $17.4m, with market hold declining from 10.72% in April to 6.84%, according to figures from the Mississippi Gaming Commission.
As usual, the bulk of revenue and handle was generated at the coastal casinos, which accounted for $11.0m – 62.9% – of amounts wagered and $626,283.15, or 52.5%, of revenue. However, handle was down 7.4% month-on-month, and revenue fell 44.2%.
Punters in the region staked $5.6m on baseball, with the Major League Baseball season running until September 29, though a weak 3.85% hold saw casinos generate revenue of $215,881.16. Basketball also proved popular in May, with the National Basketball Association playoffs taking place during the month, resulting in $3.6m in stakes and revenue of $251,690.11.
Casinos in the state’s northern region endured a particularly difficult month, with stakes down 12.5% to $4.0m, and revenue plummeting 53.0% to $260,189.70.
As with the coastal casinos, basketball generated the majority of handle ($1.5m), though an especially weak hold of 1.35% saw the northern casinos generate revenue of just $19,952.51. Basketball fared slightly better, with the casinos generating revenue of $98,011.21 from $1.3m in wagers.
Sports parlay cards proved to be the most lucrative product for the northern casinos, accounting for more than half of monthly revenue ($133,316.42) from stakes of $913,415.20.
The decline in revenue from the northern casinos saw Mississippi’s central region move up to become the second-largest source of revenue in May. However, the regional total of $305,494.27 represented a 20.0% month-on-month slide.
Basketball proved the most popular sport for the central casinos, attracting stakes of $1.6m, from which the casinos generated revenue of $$133,569.72.
Contrasting the coastal and northern casinos, the state’s central region saw significantly less wagered on baseball – $628,487.15 – though held $83,071.35 with a 13.22% win percentage. For sports parlay cards, however, the region held $157,883.61 from stakes of $499,375.38 – a 31.62% win percentage.