Mississippi Sports Betting Revenue
Mississippi generates more sports betting revenue than any other retail-only market in America.
Sports fans in the Magnolia State clearly enjoy getting in on the action at the state’s casinos. But is revenue headed for a plateau without new legislation to allow online and mobile betting statewide?
We’ll keep you informed with up-to-date data and analysis of monthly Mississippi sports betting revenue reports. Below you can also scroll back in time to see the growth of sports betting in the Magnolia State.
Read on for an in-depth look at the business of sports betting in Mississippi.
Mississippi Sports Betting Revenue: Month-By-Month Data
Sports Betting Dime keeps track of the growth of legal sports wagering by analyzing monthly financial reports provided by each state.
Here’s what each column represents:
- Handle is the total amount wagered on sports.
- Revenue reflects the gross gaming revenue kept by sportsbooks after paying out winnings.
- Hold percentage shows how much revenue sportsbooks kept as a function of the betting handle.
- State tax revenue displays taxes collected by the state and local jurisdictions.
The table below shows the Mississippi sports betting industry’s key financial figures from launch in August 2018 to date.
|Month/Year||Total Handle||Revenue||Hold Percentage||State Tax Revenue|
|Total (since launch)||$1,419,335,176||$165,997,926||11.7%||$19,919,751|
Sports Betting Dime will update this table monthly with the figures provided by the Mississippi Gaming Commission.
MS Sports Betting Revenue: Annual Figures
The table below shows Mississippi’s annual sports betting handle, gross gaming revenue, and hold percentage, as well as state tax revenue collected since legalization in summer 2018.
|Year||Total Handle||Revenue||Hold Percentage||State Tax Revenue|
Mississippi’s best annual totals came in 2019, before the onset of the COVID-19 pandemic. All things considered, Mississippi sportsbooks did well to maintain a similar betting volume in 2020. With a record month to start 2021, the state’s sports betting industry looks on track to reach new heights this year.
Latest MS Revenue News
Here’s a quick breakdown of the latest news from Mississippi sports betting revenue reports.
November 2021 – While the monthly sports betting handle in Mississippi dipped through November, revenue remained strong at $9,520,846 thanks to a 15.7% hold rate from Mississippi sportsbooks.
October 2021 – Autumn 2021 saw many states set monthly sports betting handle records, and Mississippi was no exception. The $83,527,015 collected in October 2021 broke the state record.
September 2021 – Mississippi monthly sports betting handle started a strong recovery, reaching $54,835,753 in September 2021.
August 2021 – The sports betting handle in Mississippi continued to dip in August 2021, falling to a total of just over $21 million for the month. This figure should pick up in September as the NFL season approaches.
July 2021 – Mississippi reports $31 million wagered in July, a quiet month for the sports betting industry as a whole.
June 2021 – Mississippi declares $43 million in betting handle for the month of June. Sportsbooks kept just over $3 million after paying out winning bets. With the lowest hold rate (7.41 percent) in more than a year, it was a good month for MS sports bettors.
May 2021 – The Mississippi Gaming Commission reports a betting handle of $36 million in May. Sportsbooks kept just under $4 million for a hold rate of 10.76 percent.
April 2021 – Mississippi sports bettors wagered $32 million in April, the state’s lowest betting handle since July 2020. Sportsbooks generated $4 million in gross gaming revenue, reflecting another double-digit hold percentage.
March 2021 – Mississippi reports $50 million in wagers and $5 million in gross gaming revenue for the month of March. The Magnolia State is on track to roughly double its previous annual betting handle in 2021.
February 2021 – Betting volume dips somewhat in February with just $47,807,574 wagered on sports in Mississippi. However, it was a decent month for MS bettors, as the hold percentage dipped below 10 percent for the first time in months.
January 2021 – Mississippi kicks off 2021 with new state records in monthly sports betting handle and revenue. Sports bettors wagered $67,707,628, and sportsbooks kept $9,114,483 in gross revenue after paying out winning bets. The record month results in $1,093,738 in tax revenue for the state.
Mississippi Market Overview
To understand the sports betting market in Mississippi, we must keep in mind some key facts.
State Population (2020 Census): 2,961,279
In-state Pro Teams: None
Launch Date: August 1, 2018
Biggest Monthly Handle: $83,527,015 (October 2021)
Regulator: Mississippi Gaming Commission
Platforms: Retail only (online wagers limited to onsite at casinos)
Tax Rate: 12 percent
Mississippi Sports Betting Revenue Insights
Mississippi’s sports betting industry does exceptionally well for a retail-only market in a smaller state. The Magnolia State has a rich gambling history and was quick to legalize sports betting following the Professional and Amateur Sports Protection Act’s overturn in 2018.
Let’s explore what stands out when looking at Mississippi’s sports betting financial reports.
MS Bettors Prefer Football, Basketball, and Parlays
One of the first things you’ll notice when you download Mississippi’s sports wagering reports is that bettors love football and basketball. These two sports account for the overwhelming majority of Mississippi betting handle. Football and basketball (and occasionally baseball) are the only sports the Mississippi Gaming Commission provides specific figures for – everything else gets lumped into “other”.
Secondly, it’s pretty clear that Mississippi bettors enjoy putting money down on parlays. Typically, 12 to 15 percent of Mississippi’s monthly betting handle comes from parlay wagers. This suggests a good number of Mississippi bettors have an appetite for increased risk.
High Hold Percentage
Mississippi finished both 2019 and 2020 with annual hold rates of 12 percent. This is nearly double the national average of approximately seven percent.
A high hold percentage effectively means sportsbooks are keeping more money out of every dollar wagered. Hold rates are variable and not entirely within the realm of control for casinos or state governments. Factors such as bet balance, an inflated vig, or bettors flocking towards futures markets can all drive up the amount that sportsbooks profit. Parlays can also have higher vig rates built in, which may be affecting Mississippi’s hold rate as well.
At the end of the day, a high hold percentage is unfortunate news for sports bettors. Launching online sports betting would increase competition in the Mississippi market, and hopefully bring the hold rate down into the single digits.
A Leading Retail-Only Market
Mississippi is the largest retail-only sports betting market in the United States and the first to surpass $1 billion in wagers.
Despite not allowing online betting unless physically inside a casino, Mississippi generates similar or higher betting volume than states such as West Virginia, Oregon, Rhode Island, and Washington, DC, which all allow some form of mobile betting. This is a testament to Mississippi’s thriving casinos and the popularity of the riverboat gambling experience, as well as the sports-crazed culture in the South.
With sports betting available at 23 casinos and counting, Mississippi is also a bigger retail market than New York state, which has more than six times the population but just eight casinos that allow sports bets.
However, Mississippi’s growth rate is slower than states with online sports betting. Simply put, there are enormous benefits to allowing online wagers – for everyone involved. Creating a statewide online and mobile market is the natural next step for lawmakers if they wish to increase revenues from Mississippi’s sports betting industry.
Learn More About Betting on Sports in Mississippi
Mississippi’s sports betting industry has performed well thus far, but one has to wonder how much higher the ceiling would be if online betting were allowed statewide.
Sports bettors would see juicier promotions with an open, competitive online market, and easier access would undoubtedly lead to increased state revenues.
Sports Betting Dime will keep you up to date with the latest Mississippi sports betting via our state page. To see how MS compares to other states, check out our state-by-state sports betting revenue tracker.
Have fun and enjoy the action out there!