Mississippi: Sports Betting Revenue Tumbles 42.1% In May

Mississippi: Sports Betting Revenue Tumbles 42.1% In May

Mississippi sports betting market has under performed yet again. According to the figures posted by the Mississippi Gaming Commission, the sports betting revenue fell by 42.1 percent month-on-month in May. The total revenue generated by the newly regulated sports betting market in the state could not cross the $1.2 million mark.

The figures posted also revealed that the sports betting handles even in the state’s coastal casinos could not keep up with their previous month’s performance. However, the coastal casinos contributed the lion’s share in overall sports betting revenues.

The coastal casinos generated 52.5 percent of the revenue, with 62.9 percent of amounts wagered. A total of $626,283.15, were wagered at the state’s coastal casinos. But the overall bets at the state’s coastal casinos slipped by 7.4 percent month, and the revenue dropped by 44.2 percent in May.

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

The sports which saw maximum wagers, Basketball, grossed $5.6 million in bets. It was possible because of the Major League Baseball season running until September 29. Basketball emerged as the next favorite sport amongst punters.

Earlier in April, the total wagers placed on sporting events dropped by 40.8 percent month-on-month to $19.2m.

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