Mississippi: Sports betting revenue hit $21.2 million in August

Mississippi: Sports betting revenue hit $21.2 million in August

  • In August, Mississippi sports bettors spent more than they did in July, according to a recent report from the state’s regulatory body.
  • The result reverses the recent trend of diminishing results.
  • Last month’s sports betting handle did not beat the result from 2021, but taxable revenue grew this year.

Mississippi sports betting

Sports Betting Handle Grows 16% in Mississippi 

The Mississippi Gaming Commission, the state’s gaming and sports betting authority, has released the August financial results reported by operators. 

The handle for sports betting companies in the state reached $21.2 million last month. Compared to the $18.3 million in betting handle reported in June, a nearly 16% increase is noted in August.

After a progressive fall in wagering volume over the past few months, the August result indicated a turnaround in a favorable direction. A year-over-year comparison, however, revealed that last month’s wagering volume did not surpass that of the same month in 2021. In August of last year, the betting handle was $21.4 million, therefore this year it has declined by approximately 1%.

According to figures supplied by the Mississippi Gaming Commission, last month’s $21.2 million in wagering yielded $2.7 million in taxable revenue. A comparison of August 2021 to August 2021 reveals that although the betting handle was bigger, it generated less tax income. 

In August of the previous year, licensed sports betting companies recorded $1.9 million in taxable revenue. In other words, in August of this year, the taxable income rose by 42.5%, or around $800,000.

Not surprisingly, last month’s reported taxable revenue exceeded that of July for the same year. In July, the $18.3 million resulted into taxable revenue of $2.5 million. This indicates a 6.3% rise in August taxable revenue compared to July.

Top 4 Online Casinos For Players From Mississippi in 2022

  • Slot Title
  • Pay Back
  • Key Features

  • Casino Payout: 98.01%
  • Payout Speed: 3-5 days
250% first deposit bonus up to $1,500Play NowOur score:
Read more

  • Casino Payout: 98.01%
  • Payout Speed: 3-5 days
Up to $12,500 Welcome BonusPlay NowOur score:
Read more

  • Payout rate: 97.89%
  • Payout Speed: 2-4 days
Welcome Offer Up To $3,000Play NowOur score:
Read more

  • Payout rate: 93%
  • Payout Speed: 3-7 days
200% Deposit Bonus + 25 Free SpinsPlay NowOur score:
Read more

Report on Northern Operators Maximum Betting Handle Income

A further breakdown given by the gambling regulator showed that coastal businesses had the greatest betting handle last month. Coastal operators reported a total sports wagering handle of $14.2 million, producing in taxable revenue of $1.7 million.

Last month, Central area operators reported a total betting handle of $4,200,000. This outcome yields $618,375 in taxable revenue. Northern operators recorded the lowest wagering volume throughout 

August of this year. Last month, northern operators’ wagering volume reached $2.9 million, generating taxable revenue of $322,044. In August of 2018, Mississippi started its sports betting market. Currently, tribal and commercial operators both offer retail sports betting. Although the state permits mobile sports betting, the activity is limited to two physical locations.

 

Avatar

About Lou De Aguila

Lou Ramon Aguila is a contributor for Golden Casino News. He has a degree in BSBA Legal Management with great interest in high-profile legal cases involving sports personalities. An ultimate sports junkie, he covers just about everything in the sporting world with an emphasis on the NBA, NFL, and MLB. In his past time, Lou loves to read manga, watch anime and critique pro-wrestling matches.