Rhode Island Sports Betting Revenue Triples Month-On-Month

In September, the Rhode Island sports betting market achieved a staggeringly good result: the total mount has tripled from August, meaning that month-on-month turnover rise was up 195.4%!

The total revenue for September was $2.5 million (in August it was $851,778). This result has broken the previous record set in June which was $2.2 million. In September, players wagered $22.2 million – that was a 120.6% rise in handle from August’s $10.1m.

Unprecedented Success

Rhode Island’s sports betting market took off in November 2018 …

…so the year-on-year results will only be available in December or January. Contributing to the September success was retail betting, coupled with the fact that this was the first month in which mobile betting was launched.

Twin River Casino in Lincoln and Twin River in Riverton took a combined handle of $18.9 million. This is an 177% increase from August’s $10.6 million.

Lincoln venue generated $1.6 million in revenue…

…making it the most popular of two sports betting venues. In August, it amassed $607,836 in income. At this property, punters placed $15.3 million in wagers – an incredible 98% increase from August!

Retail revenue rose from August’s $243,952 to $438,790 at Twin River Tiverton. Retail bets also prompted more spending – 54% more than August’s $2.3m ($3.6m).

Mobile wagering officially launched on September 4th. In this segment, sports betting income reached $512,740, for $3.3 million in stakes.

In order to be able to place mobile wagers, players must be ed at Tiverton casinos.

The Road of RI Mobile Betting

In February, online wagering bill S37 was approved by the RI Senate…

…after which it ed the House of Representative’s scrutiny. Gina Raimondo, the Governor of Rhode Island, signed the bill into law.

Senate president, Dominick Ruggerio, said after the bill was ed to House:

“The new in-person sportsbook that opened in November has been very popular, with lines stretching out the doors. Expanding to mobile gaming would provide a convenient option for those wishing to enjoy this form of entertainment, and open up the economic benefits beyond the walls of Twin River.”

Source:

“RI sports betting revenue rockets in September”, igbnorthamerica.com, October 29, 2019.