Mississippi sportsbooks saw a slight rise in handle in October, up to $32.8 million against $31.8 million in September. The Gulf Coast-area sportsbooks continued to account for more than half of handle across the state, writing $21.8 million in wagers. And football remains king, accounting for $22.5 million of the total handle.
Like both New Jersey and Delaware, Mississippi’s hold, or win percentage, dropped significantly from September to October. During the first full month of football, the Magnolia State had a whopping 17.3 percent win percentage, but that plummeted to 3.59 percent in October. New Jersey’s October hold fell to 4.4 percent and Delaware’s fell to 3.5 percent.
For comparison, in Mississippi, the hold was 10 percent in August and Nevada traditionally has a 5 to 7 percent hold, so while 3.5 percent looks low, it’s not as alarming in context or as if the sportsbooks overall landed in the red.
Read more Mississippi Sports Bettors Crush It in Football, Causing Drop in Taxable Revenue on SportsHandle.
If in-state LSU fans want to legally bet on the home team as a double-digit home underdog to No. 1-ranked Alabama on Nov. 3rd, they’ll most likely drive to Mississippi to do it. Or wager offshore.
Meanwhile, Louisiana officials continue to discuss legislation that would allow local residents to join their Mississippi neighbors in legal sports betting.
On Wednesday, State Sen. Danny Martiny, R-Kenner, told a state Senate Judiciary Committee he would again introduce a sports betting bill, however, he expects other legislators will do the same. Martiny tried last spring to begin the process of legalizing sports betting but lawmakers failed to act and the bill died in committee, never getting to the full State Senate for a vote.
Read more Louisiana Lawmakers Eyeing Sports Betting Legalization In 2019 on SportsHandle.