Mississippi Coast Casino's?

[New York Knight]

From a Mississippi Bookmaker:

"Held over 22% for the weekend. Squares everywhere. A couple of sharp plays but overwhelmed by the public."

In comparison, Nevada books, on average, hold 5.5%

[Mendoza Line]

Originally Posted by New York Knight

From a Mississippi Bookmaker:

"Held over 22% for the weekend. Squares everywhere. A couple of sharp plays but overwhelmed by the public."

In comparison, Nevada books, on average, hold 5.5%

Sports betting has become part of open conversation around here, and I guess I wasn't ready for the lack of basic knowledge.

People don't even understand "favorite" vs. "underdog," let alone understand how lines are set. People don't understand the "juice" either. Like "why do I only win this much when I bet that much?"

One of the managers told me people are risking even amounts of money and getting back change when they cash a ticket. He said he tries to talk them into betting $22 to win $20 instead of $20 to win $18.18, but they don't want to do it, like he's trying to trick them into something.

I think there are a lot of people betting things like higher-ranked teams getting points, etc., too.

[New York Knight]

Licensed Mississippi sportsbooks generated $9.8 million in total handle during its first full month of sports betting, Aug. 1-Sept. 3, according to Mississippi Gaming Commission executive director Allen Godfrey.


Delaware’s three sportsbooks took in a $8.2 million total wagers in its first full month (June 25-July 29) while New Jersey’s four sportsbooks (at the time) produced a handle of $40.6 million for its first full month (July 1-31).

Figures on the hold or respective handle and at each property was not available Thursday, nor was tax revenue information, but Mississippi taxes its sportsbooks a total of 12 percent — 8 percent state and 4 percent local — which mirrors every other gaming tax in the state.

There are currently 20 commercial casinos with sportsbooks operating in Mississippi. The Choctaw Nation opened its Golden Moon sportsbook in late August, but tribal casinos are not governed by the gaming commission in Mississippi.

By way of comparison, according to 2017 population estimates, New Jersey has a population of about 9 million, Delaware almost 1 million, and Mississippi about 3 million.

Mississippi sportsbooks saw a spike in action during the opening weekend of college football, according to Godfrey. It’s likely they’ll see a similar rush this weekend, with the first full slate of NFL games set for Sunday. Mississippi allows patrons to bet on local teams, so college football action likely will be high on No. 18 Mississippi State, Ole Miss and Southern Miss, all of which play Saturday. On the pro side, the “local” team is the New Orleans Saints.

Though there are 20 casinos currently operating sportsbooks in the Magnolia State, all 20 were not open for the whole reporting period. The state rolled out its sports betting regulations on July 21. The Beau Rivage Resort & Casino in Biloxi and the Gold Strike Casino in Tunica took the state’s first sports bets less than two weeks later on Aug. 1.

Sportsbooks then opened across the state throughout August. Mississippi has approximately 30 casinos, mostly in Tunica and on the Gulf Coast stretching from the Louisiana border to Biloxi.

West Virginia became the fourth state to take legal sports bets when the Hollywood Casino at Charles Town Races opened its sportsbook last Thursday, two days ahead of schedule. Pennsylvania and Rhode Island have both legalized sports betting, though sportsbooks are not currently open in either state.

[New York Knight]

MGM’s two Mississippi sportsbooks did “more than double” the betting handle on college football compared to how much was bet on college football at the Borgata in New Jersey, per MGM VP Jay Rood.

[Mendoza Line]

Mississippi casino revenue rises as sports betting begins

JACKSON, MISS.

Overall casino revenue rose sharply in Mississippi in August with the start of sports betting in the state.

State revenue department figures released Thursday show gamblers lost $181 million statewide in August, up 8 percent from $168 million in August 2017.

Only $645,000 of the amount lost was on sports wagers, though, with $7.7 million in bets placed in the first month of sports wagering in Mississippi.

Casino executives and regulators hope the lure of sports betting will mean more money lost on other casino games and more gamblers staying in casino hotels and eating in restaurants. After September is over, Mississippi Gaming Commission Deputy Director Jay McDaniel said the commission plans analyze whether sports betting is creating increases in other revenue, and by how much.

The figures for September will be bigger, as football season gets into full swing. McDaniel said that through Sept. 19, bettors wagered $17.8 million, suggesting the total will be between $25 million and $30 million for the month. Over the long term, Jacobs said officials expect casinos to win 6 percent to 7 percent of what is wagered.

A May U.S. Supreme Court decision allowed states nationwide to join Nevada in legalizing sports betting. Delaware, Mississippi, New Jersey and West Virginia all now allow betting.

The state collects an 8 percent tax on revenue, including casino winnings from sports betting. That was good for about $52,000 in August. Local governments collect a 4 percent tax. State lawmakers recently earmarked revenue from sports betting to the Mississippi Department of Transportation. But tax revenue is unlikely to amount to more than a few million dollars a year.

Overall, revenue rose 10 percent to $108 million at the 12 coastal casinos, up 10 percent from August 2017. At the 16 river casinos, revenue rose $73 million, up 4 percent from last year.

The strong month tipped Mississippi's casino revenue into positive territory for the past 12 months, leaving the state with a gain of less than 1 percent.

Numbers exclude Choctaw Indian casinos, which don't report winnings to the state.

[Mendoza Line]

All 12 Mississippi Coast casinos offer sports betting as last sportsbook opens

BY MARY PEREZ

Scarlet Pearl Casino in D’Iberville is teaming with DraftKings to open its sports book on Friday, Nov. 16.

A ribbon cutting ceremony is scheduled for 11 a.m. at the former PRL Bar, which is being transformed into a multi-screen sportsbook.

Nicholas “Nico” Sfanos, who ran sportsbooks for Station Casinos throughout Nevada, has been hired to manage the new sportsbook at Scarlet Pearl.

“We’re thrilled to be working with Scarlet Pearl Casino Resort, whose leadership has a high bar for quality and a forward-thinking approach to sports betting; a perfect fit for DraftKings,” said Matt Kalish, chief revenue officer and co-founder of DraftKings. This is the company’s first retail sportsbook in the country.

Soon after opening, DraftKings at Scarlet Pearl Sportsbook will offer live, in-game betting with three windows, giving sports fans a variety of ways to place their bets. On-site kiosks and an on-premise mobile also are planned once they are authorized by the Mississippi Gaming Commission.

With this opening, all 12 Coast casinos will offer sports betting.

[Mendoza Line]

A Biloxi bookie’s take on how legal sports betting is changing his business

BY MARY PEREZ

Sports betting isn’t new to the Mississippi Coast, it’s been happening for generations in back rooms, over the phone, and now online.

But until August, it wasn’t exactly legal. The only way generations of Biloxians and others were able to place bets was through a bookie.

Now that casinos have entered the sports betting game, the Sun Herald sought out a local Bookmaker who’s still operating after 25 years. He identified himself only as “The Bookie.”

He said there are “hundreds” of bookies on the Coast and even more customers.

Overall he said he hasn’t lost any profit since sports betting became legal — and he’s actually gained.

The bookie way

The Bookie said he has 200 clients in Biloxi and across South Mississippi, most of whom have been with him for years. He picks up another 25 percent each year by word of mouth, he said.

“Ninety percent of your money is made on football,” he said. His business goes from 200-300 bets a week during football season, he said, down to 50 a week after the Super Bowl.

Most of the bets are on the Saints, he said, along with Mississippi college teams and LSU, Alabama, Auburn, Florida and Florida State.

The minimum bet is about $25, he said. People can bet on the outcome of the game, a proposition bet on an event like who will score first, on horse races and occasionally on a political race, which is something not allowed under Mississippi law.

“(At) the casinos you have to put your money up front,” he said.

That’s not the case with him. Betters work on a line of credit. The money can roll over from week to week, he said, or he will meet the client at a local spot on the Coast and settle up on Tuesday.

All online

The old way of placing a bet with a bookie by phone has gone away, and he doesn’t make the odds. Now all wagers are made by cellphone or computer over the internet, and all to offshore websites.

He is the local face of an offshore betting site and he has meeting spots in Gulfport, Biloxi, Ocean Springs and other locations.

“It’s all about trust,” he said. “On both sides.”

Most of his clients are casual betters, but he said, “There are a few on the Coast that are big betters. There are professional players that do nothing but play with 10 different bookies, 10 different casinos,” he said.

The federal tax on winnings for individuals is 25 percent and casinos are required to report payouts of $10,000 or more to the IRS. The bookies are not.

Bookies have the edge

In August, the first month Mississippi had sports betting, $9.8 million was wagered in the state. In September, with college and pro football games drawing sports betters, wagers more than tripled to $31 million.

Every one of those bets in Mississippi had to be made on a casino property.

As long as that’s the case, The Bookie said, then bookies have the edge.

“At the end of the day you still have to go to the casino to place your bet,” he said.

Bet with him, he said, from anywhere.

He said some of his customers want to try wagering at the local casinos, similar to how people want to go eat at every new restaurant.

“Maybe some have not played as much,” he said, but legalization has helped the overall perception of sports betting.

App for that

In Nevada, people place legal bets from anywhere in the state once they’ve opened an account, and casino operators are pushing for completely remote betting apps.

In New Jersey, 57 percent of the $184 million in wagers in September came from online and mobile bets.

In Biloxi, the former director of the American Gaming Association warned legislators about the loophole in Mississippi’s law that he said would limit state revenue and allow bookies to flourish.

“Having mobile gaming only here inside the brick and mortar casinos will ensure the future success of the illegal market,” Geoff Freeman said during the Southern Gaming Summit in Biloxi in May.

“If Mississippi allowed betting by phone using an app, I do think that would hurt some,” The Bookie said. When people have to physically go to a casino to bet, The Bookie said he and other bookies in South Mississippi have the edge in the game.

“In people’s minds it’s helped business,” he said.

He isn’t alone

“There are tons of bookies on the Gulf Coast. Hundreds of them,” he said.

“It’s not as lucrative as people make it out to be,” he said, but it is his only job. He takes “a small percentage” off of each bet and that’s how he makes a living.

“I don’t gamble at all,” The Bookie says.

“I actually do pay taxes,” he said, although he jokes that he doesn’t file as “The Bookie.” He’s never been arrested for bookmaking and says paying taxes keeps officials who may know about his activities off of him.

That doesn’t mean people are never arrested for bookmaking in Mississippi. In 2017, three South Mississippi Bookmakers operating in Biloxi and Diamondhead were fined between $3,000 and $5,000 for sending bets to offshore betting sited in Costa Rica. They had faced maximum penalties of two years in prison and a $250,000 fine.

[Roky36]

Mendoza Line
I've been over to MS(from Destin) and have bet sports is almost every casino along the coast since September. Looking forward to checking out the Scarlett Pearl's new book on my next trip. Do you think there's a market for a proxy betting service for those that cant make it to the casinos? I'm thinking there would be some interest especially during the NFL playoffs and college bowl season. Your thought's?
Thanks!

[Mendoza Line]

Originally Posted by Roky36

Mendoza Line
I've been over to MS(from Destin) and have bet sports is almost every casino along the coast since September. Looking forward to checking out the Scarlett Pearl's new book on my next trip. Do you think there's a market for a proxy betting service for those that cant make it to the casinos? I'm thinking there would be some interest especially during the NFL playoffs and college bowl season. Your thought's?
Thanks!

I honestly have no idea. Seems logical that some would use a service like that, but I'm just guessing.

Personally, the only plays I make at the casino are just for extra cash on plays I already have in elsewhere. I'll put those in if I happen to be in a casino on Thursday or Friday. I'm certainly not getting dressed and going up there on Saturday or Sunday mornings for that.

[cook county capper]

Originally Posted by Roky36

Do you think there's a market for a proxy betting service for those that cant make it to the casinos?

if you provide a service that is better than others, you will easily succeed.

If I live in Illinois, and run every 2-3 weeks to Nevada, then I'm sure you can start helping others just like me in the South.

Stupid to wager overseas when the casinos will comp comp comp comp comp. Your players TC's and RC's will skyrocket, this is the biggest bit of information that allows me to get so many new clients.



So much free easy cash money in this industry, it is sick.

[Roky36]

Thanks for the responses gentlemen! I've been kicking the idea around and might give it a shot

[New York Knight]

A $40 13-team parlay hit at Gold Strike MGM In Tunica, Miss.

12 college basketball games, plus Army moneyline vs. Navy

Paid $103,581