Sports Betting Handle in Mississippi Reaches a Staggering $31.77 Million for the Month of September

On 22 October 2018, the gaming commission in Mississippi released the state’s sports betting numbers for September, revealing that sports betters wagered a total of $31.77 million, producing $5.5 million in taxable revenue. The numbers are extremely impressive, especially considering the fact that in August, the total amount wagered was $7.7 million, resulting in taxable revenue of $644,489.

 

It should be noted that the total handle of $31.77 million includes future bets, while the taxable revenue produced at $5.5 million does not include futures bets. Many of futures bets are not decided as of now.

 

The report released by the state’s gaming commission also showed that Magnolia State’s win percentage was as high as 17.3 percent. For reference, the number was ten percent for the month of August, while it is usually just five to seven percent in Nevada, the country’s gambling capital.

 

Football dominates sports betting market in Magnolia State

 

September was the first full month of professional, as well as college football, and sports bettors enjoyed it more than usual. More than half of the total amount wagered was for football bets. The amount gambled on football, a total of $16.27 million to be specific, were bet at the coastal casinos in the state, located between Biloxi area and the Louisiana border.

 

Bettors in northern Mississippi wagered a total of $4.37 million on football, while in the central region of the state, the number for the same was at $2.27 million.

 

After football, parlay cards were the next biggest handle at $4.53 million, followed by baseball with a handle of $3.75 million. In the northern region of the state, parlay cards accounted for $1.68 million, which is nearly three times that of baseball. Sportsbooks in the coastal region saw baseballs and parlay cards at an equal handle, while in central Mississippi, baseball saw higher handles than parlay cards.

 

It is to be noted that the numbers do not include mobile betting, which is allowed only on premises. The state of Mississippi levies a tax of 12 percent on sports betting, out of which eight percent is state, and four percent is local.

 

Currently, Mississippi has a total number of 22 open sportsbooks. During the reporting period of August, just two were open. About 18 were opened on or after August 17, followed by one in September and one more in October.