Last Updated on May 8, 2020
With three months of statistics to look at, it’s a fair point in time to examine how Mississippi sports betting is impacting the state.
“It’s driven additional foot traffic,” said Mississippi Gaming Commission Executive Director Allen Godfrey. “It has grown gross gaming revenue. And it has put some additional money in the state coffers.”
In these three months, over $70 million worth of wagers have been placed, with just over $7 million of that being taxable.
“That’s what’s taxable,” noted Godfrey. “Then you take 12 percent. Eight percent goes to the state and four percent to local.” This is actually a low tax rate compared to the enormous PA Sports Betting taxes and fees placed on casinos and sports gaming companies
Where will this new found wealth in the state go to? They’ve decided on roads and bridges.
Mississippi Betting Revenue Future Growth?
“I do believe being first, you develop that following,” explained Godfrey. “People like what they like and betters are superstitious. Gamblers are superstitious.”
Right now is a hot time for betting due to football, and the state recognizes that.
“Football is going to be the king and after the college basketball tournament things will probably slow down some,” added Godfrey. “You’ll be taking a lot of futures wagers. other than that you’ll start back up in September.”
Either way you slice it, legal sports betting has helped the state. How will the offseason of football impact the revenue?
States With Legal Sports Betting USA
LEGAL & ACTIVE LEGAL, AWAITING LAUNCH POSSIBLE 2019 LAUNCH