Sports wagering revenue in Mississippi declines to $30.5 million in February
In February, Mississippi's sports betting scene took a hit, with a total handle of $30.5 million - an approximately $12 million drop compared to January. This staggering decline, as reported by the Mississippi Gaming Commission, pointed to a significant decrease in player activity throughout the state. Despite this downturn, coastal gamblers continued to lead the way, accounting for a substantial portion of the state's wagers, with the central region trailing close behind.
Interestingly, basketball was the most popular betting choice among MS bettors, accounting for approximately half of the total handle in February. As the college basketball season is in full swing and March Madness fast approaching, it's likely that this popularity will continue.
Unfortunately, the state's taxable revenue also saw a dip in February, sitting at approximately $1.2 million - a decrease of around $4 million compared to the previous month. Should thisLOWER revenue persist, Mississippi's funding for public services could feel the pinch, highlighting the market's instability.
Future months may witness a resurgence, as sports betting operators tend to experience seasonal fluctuations. With major events like March Madness and others on the horizon, the state's handle and revenue figures could bounce back.
On a broader note, sports betting in Mississippi has struggled for two straight years, dealing with a decline in both handle and revenue. Legalizing mobile sports betting has proven challenging, with legislative efforts having faced setbacks due to concerns about consumer protection and industry impacts. Illegal online sports betting remains a significant issue, as billions continue to be placed through offshore platforms.
Specific data on basketball's popularity within Mississippi isn't readily available. However, the legalization of online betting could shed more light on this area and potentially boost betting activity across all sports. Let's keep an eye on future developments and stay tuned!
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Although sports betting in Mississippi has been struggling for two consecutive years, basketball remains the most popular betting choice among bettors, accounting for about half of the total handle in February. As the college basketball season continues and March Madness approaches, it's expected that this popularity will persist, potentially leading to a resurgence in sports betting activity.
