Mississippi June Sports Betting Handle Up But Revenue Dips
Mississippi had a mixed month for sports betting in June, with handle rising but revenue declining, both by nearly 20%. June was the second consecutive month in which the state had an increase in handle but a decrease in revenue.
The state’s 29 casinos combined for $43.1 million in sports betting handle for June, 19.3% higher than the May figure of $36.1 million.
But sports betting revenue fell 17.8% in a month-over-month comparison, from $3.9 million in May to $3.2 million for June, according to numbers reported by the Mississippi Gaming Commission.
Basketball, with the NBA playoffs, was the most popular sport for Mississippi bettors in June 2021 with about $19.5 million in handle, followed by baseball, with MLB in full swing, at $10.7 million. Parlay cards and other sports accounted for the rest.
Mississippi Sports Betting, June vs. May
|Change||Up 19.3%||Down 17.8%|
The revenue decline is easily explained by the hold, or win percentage. It was 7.41% for Mississippi casinos in June, pretty much in line with the usual monthly sports betting hold at sportsbooks across the country. But Mississippi bettors were not nearly as prescient in the two previous months; the hold in sportsbooks for May was 10.76% and in April it was an exceedingly high 13.07%.
Still, Mississippi casinos have seen an increase in action. They took nearly triple the amount of wagers than they did June 2019, when the sports betting handle was $15.2 million. Comparisons to 2020 (handle of less than $1.6 million) are less useful because the figures were affected by casino closures and limitations in the wake of the COVID-19 pandemic.
Mississippi set a sports betting handle state record in January at $67.7 million, a logical month for the market to peak in a state where football (college and pro) is king. The Magnolia State has failed a few times to maximize this revenue stream because it has yet to approve a true mobile sports betting market. Online bets in Mississippi must be placed inside a casino.
Decline in Slots and Table Games Drop
The drop (handle) for casino games was down a bit in June compared to May.
The slots drop was $2.377 billion, down 8.7% from May ($2.603 billion). Table games took in $176.6 million in drop for June, 5.6% down from May ($187.1 million). The total slots win was $207.26 million in June and the table games win was $32.22 million.
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