Mississippi’s sports betting income more than doubled in December 2020 compared to the previous year, due to a high hold percentage of 14.04%.
Mississippi’s gambling income doubled in December due to a high hold percentage.
Mississippi Gaming Commission data revealed that the amount wagered in December 2020 increased by 12.7% from December 2019 to $55.3 million, but the casinos’ hold percentage jumped from 7.09% the previous year to 14.04%.
This significantly increased operators’ income, rising from $3.5 million in December 2019 to $7.8 million, a 123.1% increase.
Compared to November 2020, the amount wagered was slightly up, increasing by 1.6%, but November’s hold percentage was 14.89%, higher than December’s, meaning income actually decreased by 4.3% month-on-month.
The state’s coastal casinos remained the main driver of both wagers and income, accounting for $37.6 million in wagers and $4.9 million in total income.
Football was the most popular sport in the coastal region, with customers wagering $19.7 million, and casinos earning $2.5 million in income after deducting payouts. Basketball came in second, with $10.2 million wagered, but a higher hold percentage of 28.40% resulted in a higher income of $847,981 for the parlay cards.
Mississippi’s central casinos came in second, with customers wagering $8.9 million, and operators earning $1.7 million in income.
Meanwhile, northern casinos reported $8 in wagers.
Following customer profit deductions, the enterprise generated $1.2 million in earnings from a total of $8 million.
You can access the complete article on the iGB North America site.
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