Mississippi Sports Betting Revenue Drops In April

Mississippi Sports Betting Revenue Drops In April

Sports betting revenue of Mississippi has dropped in April after it recorded gains in the previous month.

The total wagers placed on all sporting events in the state slipped 40.8 percent month-on-month to $19.2m.

The majority contribution to the sports betting revenue came from casinos on the Mississippi coast. Wagers placed at the state’s coastal casino amounted to 61.8 percent of the total bets placed. The coastal casinos saw $11.9 million wagered in April. The venues altogether generated a revenue of $1.1 million.

Basketball topped the chart as the most revenue generating sports. It generated a total of 46.2 percent of the revenue. A total of $3.8 million was placed in wagers on Baseball alone, and it created a revenue of $357,404.05. While Parlay card brought in revenue of $195,328.67 with wagers of 1.1 million in total, other sporting events chipped in $316,571.62 in revenue with wagers totaling $1.4 million.

Earlier in March, Mississippi coastal casinos had recorded a second-highest monthly revenue, only after July 2007. The revenues for the 12 coastal casinos was up 13 percent to 124 million.

The increase in revenues was largely attributed to March Madness, NCCA’s college-level basketball tournament, which saw record betting across the country.

With other neighboring states legalizing sports betting and gambling expansion in Arkansas, the Mississippi casinos are facing tough competition.

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