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Mississippi taxes its gaming revenue at 12 percent, with 8 percent going to the state and 4 percent designated for local municipalities. Only 11 of the states 28 casinos participated in the opening month of Mississippi sports betting, most for only part of August. That leaves major potential for growth in the coming months as more operators come online. Nothing pops out about the August 1-31 numbers in Mississippi sports betting. Add in the first three days of September though, and you can see where business is headed. Mississippi Gaming Commission executive director Allen Godfrey confirmed to Legal Sports Report that total handle for August 1 through September 3 was $9.8 million. That means roughly bettors put up nearly $3.5 million in just the first three days of September, or better than half of the total handle from August. No surprise there, as the start of September brings the start of college football, which is expected to drive Mississippi sports betting revenue. With another four weekends of college football in September, as well as a full slate of NFL games, expect Mississippis numbers to boom next month. No mobile in Mississippi sports betting either When comparing the initial returns in Mississippi sports betting to those in other states, keep in mind that the state does not offer online or mobile sports betting. That means bettors had to travel to one of Mississippis casinos to place their wagers.
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"Legalization is only part one; each state then has to issue regulations and then licenses, so it could be six months to a year between a law getting passed and getting up and running. In New Jersey's case, since they were the state that went to the Supreme Court, they were very motivated and working on this beforehand. West Virginia, for example, is granting reciprocity with Jersey instead of building their own regulations and licensing process, which can be lengthy and costly to administer. I'm hoping that a lot of other states take that same approach, which will make things a lot faster or easier for everyone. And it could play to our advantage because not everyone is as prepared as we are to operate in this multi-state, multi-regulatory environment environment.
For the original version including any supplementary images or video, visit https://www.thestreet.com/technology/draftkings-ceo-explains-how-it-ll-tackle-legal-sports-betting-14714871