Mississippi Takes Hit On Sports Betting Revenue

Sports betting operators in Mississippi experienced some trading difficulties in March, with performance versus the previous year suffering considerably. This impacted both revenue and handle metrics.

This year, native players wagered $47.9m, which was a substantial 12.5% decline against the like-for-like period last year. Nevertheless, this represented 8% growth on last month’s handle return. A similar pattern emerges when analysing revenue data, with the $4.1m generated last month resulting in over a $1m deficit on the March 2021 figure, but conversely bettering the previous month’s number by a colossal 116%.

Looking at the results from a geographical perspective, it becomes clear that last month’s betting activity was heavily concentrated in coastal areas. Casino venues within shoreline environments delivered $2.2m in GGR, accounting for over half of the Magnolia State’s total sports betting revenue. Player expenditure at these locations tipped the scales at $31m. Concessionaires based in central parts of the state registered $1.5 in revenue, and $9.3m in handle, whilst those facilities in northern regions eclipsed $400k in GGR and $7.5m in bets placed.

Unsurprisingly, given the recent collegiate NCAA tournament, Basketball received the most wagering activity, with approximately two-thirds of all handle taken aligned to the March Madness competition. A significant $22.7m of the total basketball spend was attributed to coastal-based operators, with the sport also attracting $5.5m of the $7.5m wagered in northern facilities.

Overall operator win also suffered, with March’s return down 17% on the previous year. With the sporting calendar now entering a slightly quieter period, Mississippi’s gambling stakeholders will be hoping that last month’s trend doesn’t continue further into the Spring.