The state of Mississippi recently announced its May sports betting numbers, and it was actually a good month for the state. Mississippi has produced some up and down numbers when it comes to sports betting, but there were a few factors that led to a jump last month.
The total sports betting handle for the month of May was $36.12 million, which was an increase of nearly 10 percent from the total reported in April. This is a promising sign for the state, but the summer months aren’t expected to produce much growth.
Even with an increase in the total betting handle for the month, sports betting revenue did see a pretty significant drop for the month. The total revenue was just $3.8 million in May after it climbed over $4 million in April.
The overall record for sports betting in Mississippi was set in January when the state nearly reached the $68 million mark. That record likely won’t be reached until this Fall when the 201 NFL season begins.
Basketball Brings in the Business
Basketball was the most popular sport to bet on during the month of May in Mississippi, even though the state does not have a professional sports team. Basketball brought in nearly $15 million in wagers during the month of May, doubling the total for any other sport.
Baseball was next on the list with a total handle of $7.4 million, and that sport will have to carry the market once the month of July begins. Parlay betting remains another popular betting option for bettors in Mississippi, bringing in more than $6 million in wagers.
The fact that online sports betting is not an option in Mississippi continues to hurt the overall numbers for the state. Online sports betting apps are available, but they can only be accessed on casino property.
Other Gaming Numbers Improve
Not only did sports betting in Mississippi improve in May, but the entire gambling industry saw some impressive numbers as well. Both slots and table games posted some impressive numbers last month, and that could lead to big things for the state moving forward.
The total handle for slot machines in May was over $2 billion, and that was a slight increase from the month of April. The total revenue was down when it came to casino gambling as well, but more business should spell success in the future.
Louisiana Sports Betting Coming
Mississippi is going to be facing some serious sports betting competition soon as Louisiana will be launching sports betting by the end of 2021. Louisiana will restrict sports betting to just 55 of 64 parishes, but this could still be a massive market in the Southeastern portion of the United States.
Louisiana is home to some popular teams in the city of New Orleans, and those teams will help drive sports betting. Mississippi does not have any popular professional teams, and it is likely that residents will cross the border.
Florida has also legalized sports betting in 2021, but that state could face some legal challenges before the industry is even launched.