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An unusually strong month for the public sank Mississippi sports betting revenue in October, and the downward trend held in November.
This time, Mississippi sportsbooks likely took a hit from local teams, while casinos nationally rebounded last month. Magnolia State books held more than $1.6 million on nearly $45 million wagered for a 3.76 percent win. That means revenue barely grew while handle increased $12 million from October.
Compare that to New Jersey, which held $21.2 million on $330 million handle last month, to see why Mississippi stands out. (That came after NJ sports betting posted $11.7 million in hold on $260 million handle in October.)
What happens when we go deeper into the numbers to understand Mississippi sports betting in November?
Here is how the overall Mississippi sports betting revenue report breaks down for November. Remember that Mississippi separates its report by region: Northern (Tunica), Coastal (Biloxi/Gulfport), and Central (Jackson, etc.)
|Overall November revenue||$488,490||$386,956||$798,805||$1,674,251|
The football row leaps off the screen as an anomaly in what otherwise would be considered an uneventful month.
Biloxi-area casinos in particular struggled last month, losing $164,000 on more than $18 million in football bets. Even more stunning is a nearly $90,000 loss on profit-machine parlays.
Overall, Mississippi bettors put up roughly $28 million on NFL and college football. Books held just more than $192,000 of that.
Some quick math produces a win of less than 1 percent on November football wagers in Mississippi. Why might the South’s only state with active legal sports betting falter in one of the year’s prime betting months?
The New Orleans Saints might present part of the problem. Heavy favorites like the Saints and Kansas City Chiefs delivered through the first three-quarters of the season.
The Saints are 10-5 ATS this year, including a run of eight out of nine covers in the middle of the year. That gives New Orleans the third-best record ATS this season behind Chicago (11-4) and Seattle (9-4-2).
Remember that figure about a loss on football betting from the Biloxi-area casinos in November? New Orleans sits just a 90-minute drive from the Gulf Coast casinos in Mississippi.
Of course, heavy college football action drives Mississippi sports betting, given its location. A few other relevant November statistics with that in mind:
Riding the Crimson Tide and Bulldogs while fading the struggling Rebels could produce a profitable month for a sharp.
No one factor likely accounts for Mississippi’s off month in revenue, but in combination, some answers certainly emerge.