The Mississippi Gaming Commission reported parlay wagers.
Revenue was up 30.4% compared to last January despite handle plunging 22% to $44.6 million, with the overall hold just shy of 15%. Louisiana and Arkansas.
A bill to legalize mobile wagering betting apps available after launching online wagering in March 2022.
Year-over-year handle in the Razorback State more than doubled to over $400 million in 2023, while revenue did likewise to $37.2 million, as the state reported an increase of nearly $3 million in tax revenue.
Another strong month for parlay betting 3p4j3i
January #SportsBetting numbers 🧵for #Mississippi via MGC. All-time thru 1/24
Handle: $2,526,763,793
Revenue: $287,948,042
Win Rate: 11.40%
Taxes: $34,561,235Story to come @sports_handle
12/x #SportsBettingX #GamblingX
— Chris Altruda (@AlTruda73) February 20, 2024
Mississippi operators have long enjoyed success against the betting public when it comes to parlays, and they opened 2024 much in the same fashion as they closed 2023, posting a 20% hold or better for the 16th time in the last 19 months. Parlay revenue totaled $2.3 million against $9.2 million handle, as the winnings ed for 34% of operator revenue compared to 20.7% of their handle.
Football provided the other big share of revenue, with operators collecting $2.4 million thanks to a 15.2% win rate against $15.9 million handle. The betting public fared slightly better when it came to basketball, limiting the house to a 7.1% hold as operators won nearly $1.1 million.
The catch-all “other” category, which for Mississippi includes golf, tennis, soccer, auto racing, and mixed martial arts, provided nearly $940,000 in operator revenue from $4.6 million worth of bets, as sportsbooks had a 20%-plus hold for the second straight month.
