Mississippi’s sports betting handle saw an increase in November compared to the previous month. However, revenue from sports betting in Mississippi saw a decrease in November compared to October. Mississippi legalized sports betting in 2018 and had a profitable first year, continuing the trend.
Many industry experts expected the Mississippi sports betting market to see a dip in their handle for November. However, in a pleasant surprise, that wasn’t the case.
In October, sports betting was up in The Magnolia State. Not only because of players betting heavy on the World Series, but Houston entrepreneur and philanthropist Jim “Mattress Mack” McIngvale bet millions in three different states that the Astros would win the World Series. This includes a $3.5 million wager placed in Mississippi.
Despite the Houston businessman’s $3.5 million bet in October, sportsbooks’ handles were up last month in The Magnolia State. For November, Mississippi’s sportsbooks combined for a handle of $56.36 million, an increase from October’s $48.01 million.
Revenue from sports betting saw a major dip in November compared to October. Last month, sportsbooks in The Magnolia State combined for a revenue of $3.78 million, and in October they garnered a revenue of $12.29 million.
However, the fact that the state’s sportsbooks saw an increase in their handle for November is very impressive, especially competing with McIngvale’s World Series bet.
To no surprise, football, both professional and college, garnered the most bets. Sports bettors in Mississippi wagered a total of $36.13 million on football in November, and the state saw a total revenue of $1.85 million from the action.
Mississippi breaks down the monthly sports betting revenue report in three different regions: central, coastal and northern. All three regions saw an increase in their sports betting handle for November compared to the previous month, and all saw a decrease in their sportsbooks’ revenue.
Central sportsbooks saw a handle of $6.74 million with a revenue of $398,179 for November. In October, sports betting in the central market garnered a handle of $5.41 million with a revenue of $986,398.
The northern sports betting market in Mississippi saw a handle of $13.47 million last month with a revenue of $939,951. In October, the northern sportsbooks garnered a$9.17 million handle with a revenue of $1.27 million.
The coastal sports betting market once again took in the most wagers and garnered the highest revenue. For November, coastal sportsbooks saw a very impressive handle of $36.14 million with a revenue of $2.44 million. In October, Mississippi’s coastal sports betting market saw a handle of $33.42 million with a revenue of $10.03 million.