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Mississippi betting market swings to a loss in June


Mississippi’s sports betting market posted a $62,230.77 loss for June, after the state’s northern casinos posted heavy losses on basketball betting for the month. 

The latest figures from the Mississippi Gaming Commission show that total revenue is down significantly from June 2019’s $1.6m total. This also represents a decline from May 2020’s revenue of $87,697.08.

Amounts wagered were also down significantly year-on-year, at $1.6m, compared to $15.2m in the prior year. June’s handle, however, represented a significant increase on the $236,502.91 wagered in May this year. 

The state’s coastal casinos continued to account for the bulk of handle, with $898,425.30 wagered at the properties. Licensees held $27,358.45 of this sum, for a win percentage of 3.05%. 

Other sports – ie, those outside of the traditional US sports of football, basketball and baseball – accounted for $625,457.64 of amounts wagered, and revenue of $119,335.49. However must of this was wiped out by heavy losses on football and basketball. 

For football, players staked just $1,388.40 but sportsbooks made a loss of $90,177.75, while basketball stakes of $33,720.80 resulted in losses of $44,807.16.

The northern casinos came in second in terms of handle, with $414,205.80 staked, though a $197,624.44 loss on football resulted in the region posting a loss of $114,404.94 for June.

A further $263,227.74 was bet in central casinos, with operators holding $24,815.72.

All of the state’s casinos were opened throughout the month, with many having returned to business from May 21 following the novel coronavirus (Covid-19) shutdown, and others following from June 1.