In March, Mississippi’s sports betting handle reached $46.7 million, displaying a robust performance despite a 2.5% year-on-year dip from March 2022 ($47.9 million). However, it marked a substantial 17.3% increase compared to February 2023 ($39.8 million), showcasing the state’s resilience in the sports betting market. It’s worth noting that Mississippi had experienced two consecutive months of decline in January and February.
Revenue Surges
Mississippi reported a remarkable 22% surge in sports betting revenue, reaching $5 million in March. This figure represented a substantial 61.3% spike from February’s revenue of $3.1 million. Among the regions, coastal casinos emerged as the highest revenue generators, earning $2.8 million from a total handle of $31.8 million.
Central casinos recorded $1.3 million in revenue from a handle of $9.5 million, while northern casinos contributed $822,376 in revenue from a handle of $5.4 million. Notably, basketball emerged as the preferred sport among Mississippi bettors, accounting for a handle of $33.1 million.
Limited to Retail Betting
Mississippi’s legal sports betting landscape currently operates exclusively in the retail sector. However, the state is actively exploring the potential of online sports betting. In the previous month, Mississippi Governor Timothy Reeves signed a bill authorizing the establishment of a task force to investigate the feasibility of launching online gambling in the state by 2024.
Mississippi’s consistent performance in the sports betting sector, despite fluctuations, highlights the market’s potential and resilience. The ongoing exploration of online sports betting signals the state’s commitment to staying competitive and meeting the evolving demands of its bettors.**
Mississippi’s sports betting industry showcased its ability to rebound and adapt with a solid performance in March, following a brief period of decline. The increase in revenue and the state’s exploration of online sports betting illustrate its commitment to offering diverse options to sports enthusiasts. Mississippi’s journey in the sports betting arena remains an intriguing narrative, with potential growth opportunities on the horizon.