Mississippi Sports Betting Revenue Increased in January Despite Drop in Handle

Mississippi Sports Betting Revenue Increased in January Despite Drop in Handle

The Mississippi sports betting revenue increased 31.4 percent year-over-year to $6.7 million. Also, it was up from $4.9 million in December 2023. The increases came despite a lower betting handle for January at $44.6 million.

According to betting software reports, January’s total handle was $22.0 percent lower than the same month a year ago at $57.2 million. Also, compared to the $48.9 million wager in December 2023, it was 8.8 percent lower. Bettors once again flocked to casinos along the coast of Mississippi, as has been the case for quite some time.

Revenue from retail sportsbooks at coastal casinos reached $4.0 million, with wagers totaling around $29.1 million. American football betting accounted for $12.0 million of these venues’ income, with $1.6 million coming from the sport.

Additionally, out of $9.1 million, $1.5 million came from the central casinos. The biggest return for these venues came from parlay bets, which brought in $1.1 million from $4.0 million in wagers.

Mississippi Sports Betting Revenue

Mississippi Sports Betting Revenue Increased in January Despite Drop in HandleNorthern casinos, meanwhile, made $1.2 million off $6.4 million in wagers in January. According to pay per head experts, bets on American football totaled $2.1 million, contributing $631,180 to the total.

The most recent monthly report was released as lawmakers in Mississippi explored multiple pieces of legislation to legalize online sports betting. Customers in the state are now limited to using registered retail sportsbooks to place legal sports wagers. With the support of eight state members, House Bill 774 made it through the House and into the Senate earlier this month.

According to pay per head bookie sources, a critical provision of the measure is the authorization for all 26 land-based casinos in Mississippi to begin offering online sports betting. Along with any current retail sportsbook, casinos can only use one authorized platform to provide betting.

Additionally, HB635 and HB271 aim to make sports betting legal. Following last year’s HB606, additional legislation has been introduced. This gave the go-ahead for a sports betting task team in Mississippi to conduct what they called a “comprehensive review” of the industry.

At first, the bill intended to let any brick-and-mortar casino form a partnership with an online sportsbook. Nevertheless, its scope was considerably reduced during the committee.

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