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.
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!