Mississippi sportsbooks post $62,230 loss in June

Mississippi’s sports betting market took a major hit in June.

According to the latest figures from the Mississippi Gaming Commission (MGC), sportsbooks in the state posted a loss of $62,230 in June.

Last month’s figures represent a significant year-on-year drop on the $1.6m Mississippi sportsbooks generated in June 2019. The figures also represent a month-on-month drop on the $87,697 generated in May.

Bettors in the state wagered $1.6m in June, down from the $15.2m wagered the year prior. However, June’s handle was up from the $236,502 wagered in May.

Breaking down the figures

The MGC places Mississippi’s casino sportsbooks into three different categories based on their location – coastal, central, and northern.

Mississippi’s coastal casinos continued to lead the state’s betting market after bettors wagered $898,425 at these venues. Licensees in the coastal region generated $27,358 in sports wagering revenue.

Northern casinos in the state came in second place in terms of betting handle after processing $414,205 in sports bets. However, these venues made a loss of $197,624 on football bets which resulted in the region posting a loss of $114,404 for the month.

Central casinos managed to generate $24,815 in revenue from $263,227 in sports wagers.

What did residents bet on?

As the coronavirus pandemic resulted in the postponement of nearly all major US sporting events, bettors in the US have had to look elsewhere for events to bet on.

According to the figures, other sports, which include sports other than football, baseball and basketball, accounted for $625,457 of the state’s total handle, generating $119,335 in revenue for sportsbooks.

The majority of the revenue generated from betting on other sports was diminished by losses from football and basketball betting.

Bettors in the state wagered just $1,338 on football, but sportsbooks made a loss of $90,177. Sportsbooks also made a loss of $44,807 on basketball betting after bettors wagered $33,720.

Mississippi casinos are open

All casinos in the state of Mississippi managed to reopen for June, following a temporary shutdown due to the coronavirus pandemic.

About 18 casinos reopened on 21 May after the state eased its lockdown restrictions.

Several venues, including Twin River Worldwide Holdings’ Hard Rock Biloxi Casino in the state of Mississippi, reopened on 21 May.

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