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Mississippi betting market hits new heights in October


Mississippi’s sports betting market has enjoyed its strongest month since launch by far, with revenue hitting $12.3m in October. 

Handle for the month climbed to $48.0m, with the state benefitting from a remarkably high hold of 25.60%, compared to a win percentage of 3.59% in October of the prior year according to figures from the Mississippi Gaming Commission.

This allowed the state to generate its largest monthly revenue total, with the $12.3m representing a significant hike on the $5.6m generated in September, and a massive leap on the $1.2m generated in October 2018.

The vast majority of revenue and handle came from Mississippi’s coastal casinos, which accounted for $33.4m of handle (69.6% of the market total) and $10.0m (81.6%) of revenue. This was largely down to casinos winning $6.4m from baseball stakes of $10.1m, suggesting a hold percentage of 62.89%.

Football betting was the source of the most activity, with customers staking $18.1m, from which the casinos held $2.1m, or 11.70% of amounts wagered. While just $1.1m was wagered on basketball, casino held $932,704.51, suggesting an 83.52% hold. However, it is unclear if these include bets on future events. 

Elsewhere, the state’s northern casinos reported a month-on-month drop in revenue to $1.3m from player stakes of $9.2m.

Northern action was centred on football, with customers staking $6.2m, from which the casinos won $778,917.75. 

Baseball and parlay cards were the only other sports that attracted stakes of more than $1m, each bringing in $1.0m in wagers. However, a lower win percentage saw the casinos generate revenue of $140,076.28 from baseball, and $192,629.05 from parlays.

Casinos located in central Mississippi contributed the least in terms of handle and revenue for October. Amounts wagered in the region reached $5.4m, a slight year-on-year increase, while revenue climbed to $986,398.29. 

Football again reigned supreme, accounting for $3.7m of total handle, and $598,547.41 of revenue, followed by parlay cards, with stakes of $766,276.41, and revenue of $248,489.17.