Mississippi sports betting sees revenue rise despite decrease in May wagering

In May, the sports betting industry in Mississippi saw a decrease in the amount of wagers placed, but still managed to generate more revenue compared to the same period last year.

$26.8 million spent on sports betting

Reports indicate that players within the state have spent $26.8 million on sports betting, reflecting an 8.2% decrease from May 2022 and a 15.7% decline from the previous month of April, where wagers amounted to $31.8 million.

In May, Mississippi’s sports betting revenue amounted to $3.2 million, reflecting a noteworthy 52.4% increase from the $2.1 million reported in the same time frame last year. Nonetheless, it is worth mentioning that this figure was 25.6% lower than the revenue recorded in April, which totaled $4.3 million, despite the drop in the handle.

Basketball and coastal casinos are still on top

Customers continued to prefer coastal casinos as their destination, resulting in a total of $16.8 million in wagers and $1.3 million in revenue. In comparison, central casinos received $7.2 million in bets and generated $1.2 million in revenue, while northern casinos had $2.8 million in wagers and earned $623,433 in revenue.

Basketball continued to be the favoured sport among consumers, with a total of $10.2 million wagered on basketball events during May. Of this amount, $6.3 million was bet at coastal casinos, indicating the popularity of the sport in that region.

While the handle showed a decline, the year-on-year revenue growth reflects the resilience and potential of Mississippi’s sports wagering market. Industry stakeholders will continue to monitor the trends and adjust their strategies to maximize opportunities for growth in the evolving landscape of sports betting in the state.