Posted on Updated on
Mississippi, news, Sports Betting

Sports Betting Revenue in Mississippi Surges in September

Nickolas BransonBy Nickolas Branson

Mississippi is one of the 19 US states with an active sports betting market. This industry is proving to be massively successful here, particularly with the help of the NFL’s 2019/2020 season. New reports indicate that sports betting revenue in Mississippi surged during the month of September.

Hundred Dollar Bills Laid Out

It’s great news for betting operators here. Mississippi has always been thought of as a US casino hub and is now beginning to gain a reputation as a major sports betting destination. Let’s look at exactly how much sports betting companies managed to bring in last month.

Mississippi’s Gambling Market Continues to Expand

For centuries, all forms of gambling were banned in Mississippi. The state took this matter seriously, issuing harsh punishments to anyone caught playing inside an illegal gambling house. In 1990, lawmakers here decided to make a change.

State politicians decided to legalize traditional casino gambling. Within just a few years, several land-based and riverboat casinos began operating here. Today, there are a huge number of land-based gambling venues, most of which are very successful.

It’s clear that lawmakers wanted to bring in more revenue from the gambling industry. In 2018, shortly after PASPA was removed, Mississippi officially approved sports betting. Two MGM Resorts-owned casinos took the state’s first sports wagers in August of that year.

Since this time, almost all casinos in this state have begun offering sports gambling options. Many of these casinos are earning millions in additional revenue from this industry.

September was a massively successful month for sports betting operators in this state. Here’s how much money was brought in.

September Brings an Increase in Sports Betting Revenue in Mississippi

This state continues to rack in money from its sports betting market. New reports indicate that that September was one of the biggest months of the year in terms of revenue. There are clearly a huge number of passionate sports fans here.

The state’s Gambling Commission claims that sports betting revenue in Mississippi increased by 19.2% year-on-year to $37.9 million. The state itself took in $5.6 million in tax earnings. Interestingly, most of the year-on-year growth came from the state’s central region.

Handle from this region increased by 75.6% in this area compared to the same month last year. The state earned $780,798 in taxes from this region, with bookmakers recording a 15.29% win rate.

Unsurprisingly, the Coastal region contributed the most to sports betting revenue in Mississippi last month. This area brought in $25.4 million, representing a 14.7% increase from the same month last year.

This industry is showing no signs of slowing down. Last month, casinos in this state brought in massive revenue earnings, as well.

Soon, Mississippi could have one of the most lucrative sports gambling markets in the country. The rise in sports betting revenue could push other nearby states to legalize and regulate this market, as well.

Nearby States Considering Sports Betting Legalization

As of today, 19 states have legalized sports gambling. Many more have pending legislation to open their sports gambling markets. Several states in near proximity to Mississippi are currently considering allowing this form of gambling.

Several already have, too. Lawmakers in both Tennessee and North Carolina have both recently passed sports gambling legislation bills. The “Tennessee Sports Gambling Act” became legal on May 25th of this year. On July 26th North Carolina approved a bill that “allows sports and horse race wagering on tribal lands.”

Several other nearby states are working to legalize sports betting. Politicians in Louisiana and Alabama have both recently presented sports betting bills. Unfortunately, none of them have been approved during their state legislative sessions.

In time, it’s likely that almost every US state will allow sports betting. It’s a massively profitable industry that’s popular with individuals across the country.

Sports betting revenue in Mississippi continues to increase. We’ll need to wait and see whether or not October brings even better results.

Stay tuned for more US sports betting news over the next few months!

Posted on Updated on
Casino, Mississippi, news

Mississippi Casinos Help to Generate Billions for the State

James MurrayBy James Murray

For much of the state’s history, Mississippi banned almost all forms of gambling. Eventually, lawmakers here began opening up the state’s casino market. Now, Mississippi casinos are helping to generate massive revenue earnings for the state.

Mississippi State Seal

Mississippi lawmakers have to be pleased seeing these casino venues generating so much revenue.

Now is the perfect time to look at exactly how much revenue these casinos are earning. We’ll also talk about some of the new gambling options now available in this state.

Mississippi’s New Gambling Laws, Explained

As we just mentioned, Mississippi once had an extremely restrictive set of gambling laws. Virtually all forms of gambling were banned here in 1886 and it took more than 100 years for laws to change. Finally, in 1990, politicians here approved the “Gaming Control Act” that allows legalized casinos to open in the state’s coastal and riverside areas.

Almost immediately, several companies began requesting licenses to operate casinos here. Before long, the state allowed several riverboat casinos to open their doors. Casino gambling quickly grew in popularity here, drawing in visitors from nearby states such as Alabama and Tennessee.

The state government quickly began looking for new ways to generate revenue from the gambling industry. Eventually, lawmakers here began allowing land-based casinos to run, as well. There are now a huge number of popular gambling establishments in Mississippi, almost all of which are located on the state’s coast.

To the surprise of many, lawmakers in this state also recently legalized sports betting. Two MGM Resorts-owned casinos began taking the first legal sports bets here in August of 2018. This industry is proving to be extremely lucrative.

Mississippi Casinos Bring the State Billions Every Year

The casino industry in Mississippi is booming right now. Thanks to the huge number of land-based casinos here and legal sports betting options, these venues are now bringing in more than $1 billion annually. Mississippi casinos are also generating more than $4 billion in total economic value for the state.

Mississippi’s casino industry employs more than 37,000 individuals. This includes those working as chefs, security guards, and florists. Casinos have proven to be extremely valuable to the state’s workforce.

The annual money coming into the state goes towards various projects. This revenue is used to fund roads, bridges, first responders, and public schools. These gambling establishments are now considered to be one of the most important contributors to the state’s economy.

Sports betting is proving to be extremely successful here, as well. Today, most of the casinos in this state now offer legal sports betting platforms. Thanks to the 2019/2020 NFL season, revenue from sports betting is increasing rapidly.

Many here are now calling for online casino gambling to become regulated. Is this likely to happen?

Calls for Online Casinos in Mississippi Continue

Residents in Mississippi are lucky. There are great casinos located all over the coastal area of the state. Of course, many are still calling for internet casinos to become regulated. For those located in the northern area of the state, making the trip to a land-based casino can be a pain.

Several states have recently legalized online casino gambling. These states, including New Jersey and Pennsylvania, recognize the huge revenue potential from the regulation of the online casino industry.

Lawmakers in Mississippi aren’t showing much interest.

Officials in the state government are hesitant to start regulating the online casino market. It appears that these officials are content with the money coming in from the state’s land-based gambling venues. Fortunately, there are some amazing MS online casinos that are currently available.

These websites are not regulated by the state. Most of them, however, are extremely safe and offer a wide range of different gambling options. As you might expect, these websites are growing more popular every single month.

Mississippi casinos are generating serious money right now. Nearby states may soon take notice and begin expanding their own gambling industries.

Stay tuned for more Mississippi casino news over the next few months!

Posted on Updated on
Mississippi, news, Sports Betting

Sports Betting Revenue in Mississippi Surges in August

Nickolas BransonBy Nickolas Branson

Mississippi has a unique, liberal set of gambling laws compared to many other southern states. Back in 2018, lawmakers here approved sports betting and today, several casinos in the state operate sportsbooks. This week, reports came out showing that sports betting revenue in Mississippi increased substantially in August.Mississippi State Seal

It’s great news for casinos in this state. Today, we’re going to look at exactly how much revenue the state’s sports gambling operators made in August. We’ll also look at some of the other gambling options in Mississippi available right now.

Mississippi’s Road to Sports Betting Legalization

Unlike many states in the south, Mississippi has shown a willingness to embrace the gambling industry. There are a huge number of land-based and riverboat casinos in this state, many of which bring the state huge revenue earnings each month. In 2017, lawmakers here began taking a closer look at the sports gambling industry. Unfortunately, the state wasn’t able to officially launch any sportsbooks.

In May of 2018, the Supreme Court struck down PASPA. Prior to this, only Nevada was legally allowed to offer sports betting options. With PASPA gone, every state now has the ability to set laws on the sports gambling industry.

Weeks after PASPA was removed, several politicians in Mississippi began calling for sports betting to become legal and regulated. In June of 2018, the state passed a law that allows for land-based sports betting inside licensed casinos. By August, several Mississippi casinos began offering sports betting odds to their patrons.

Today, almost every casino in the state has launched a sportsbook. Lawmakers here are still debating whether or not to allow online and mobile sports gambling options. For now, sports betting is only allowed inside land-based casinos.

Fortunately, the decision to legalize sports gambling is paying off.

Sports Betting Revenue in Mississippi Increases in August

Mississippi is known for having one of the most passionate sporting fan bases in the country. No major professional teams are based here, yet some of the top collegiate sports programs in the country call Mississippi home. There are a massive number of NFL fans in this state and it’s clear that many of them love to wager on the season outcomes.

New reports show that sports betting revenue in Mississippi increased by a staggering 48.5% in August. $19.9 million in sports bets were placed here last month. Most gambling analysts credit the start of the 2019/2020 NFL and NCAA football season for the surge in revenue.

The NFL remains the most popular sports league in the country. Mississippi bettors placed more than $6 million in football bets last month. This represents a 152% increase in money wagered compared to the same month last year.

The majority of this money came from Mississippi’s coastal region, where many of the biggest casinos, such as Harrah’s Gulf Coast Casino, are located. 65.4% of all sports bets placed in August came from this area of the state.

Lawmakers have to be pleased to see this surge in revenue. Hope was always that sports betting would bring in money for the state. Things are definitely looking good.

Mississippi Casinos Voice Disapproval of State Regulation

As we’ve already mentioned, Mississippi is home to a huge number of fantastic casinos. Commercial and tribal casino gambling is legal in this state. Unfortunately, several major casinos here are upset with decisions the state is making with regards to the gaming industry.

Larry Gregory, executive director of the Mississippi Gaming & Hospitality Association, recently presented a letter to the Mississippi Gaming Commission. In this letter, he voiced the concerns that 26 of the casinos that he represents have over the state’s new casino regulations.

Gregory claims that the MGHA is “… concerned as it has watched the commission dedicate an extraordinary amount of its resources to assist RW and DH.”

He’s referring to the Gaming Commission’s support of RW Development and Diamondhead Real Estate, two companies pushing to open a new casino in the coastal region of Mississippi.

It looks as if these companies are being given special treatment. They’ve been twice denied to open a casino here, yet the state is willing to hear their appeal to open this new casino.

We’ll need to wait and see how the state responds to Gregory’s statements.

Sports betting revenue in Mississippi is surging right now. Hopefully, this trend continues for the rest of the year. Make sure to stay tuned for more Mississippi gambling news over the next few months!