Parlays Generate Highest Hold For Mississippi Sportsbooks In April

• Over $1,000,000 has been contributed to the state’s general fund since the start of the year.
• Mississippi posted their lowest handle ($19.1 million) since its August launch month.
• Sports betting revenue exceeded $2 million for the month of April.

JACKSON, Miss. – With football season over, the focus for gamblers has switched to over basketball. Touted as the second most viewed and wagered-on sport, the April sports betting revenue numbers for Mississippi reflected just that.

Over $67 million has been bet on basketball in Mississippi since the start of the year, with over $9 million of that occurring in April. Since Mississippi began legal sports betting, basketball wagers are now only $11 million shy of surpassing the $100 million mark.

But the focus may have also shifted towards parlay cards as well. Granted they are harder to win – posting a higher hold percentage for the sportsbooks – but more revenue was created from parlay cards than basketball betting in April.

During the month, almost $555,000 was kept by the books from parlays. Basketball revenue accounted for about $10,000 less, despite taking in almost $6.5 million more in bets.

However, across the board, it was a very even month in terms of Mississippi sports betting revenue. After parlays and basketball, baseball betting was responsible for over $537,000 in revenue followed by the “other” category (tennis, golf, hockey, etc.) taking in almost $435,000. These combined to give the Mississippi sportsbooks $2.05 million in total revenue – their fourth-lowest monthly total.

It didn’t matter too much that the books recorded their highest hold percentage (22.23%), as the total handle was only $19.1 million – the lowest amount wagered in Mississippi since their August launch.

The coastal region along the Gulf of Mexico held their dominance over Mississippi sports betting, taking in 61% of all wagers. This group of sportsbooks was also responsible for 55% of all revenue.

The central region, comprised mainly of the tribal casinos, touted a total handle of $2.8 million, while the northern region (Tunica) saw $4.5 million wagered at their venues.

In a slower month, the state government was able to collect $165,728.87 in tax contributions, while the cities that host the sportsbooks were able to take in $82,864.43.

Since the year began, the state’s general fund has collected $500 north of $1 million. For the cities, they have seen just over $500,000 enter their books. A big thanks can be given to the month of March, which has accounted for 39% of that total.

Moving forward, the focus for May’s revenue numbers will consist of bets on the NBA Playoffs, NHL Stanley Cup Playoffs, PGA Championship, Indianapolis 500, and the French Open.

News tags: Mississippi | MS revenue | sports betting