Rhode Island betting handle and revenue drop in July

Rhode Island’s sportsbook handle and revenue dropped again in July.

According to figures from the Rhode Island Lottery, a total of $8.3m was wagered on sports in July, a significant decrease on the $14.7m wagered in June.

Revenue also took a hit in July with sportsbooks holding on to just $827,579, down from $2.1m the month prior.

With football season approaching, Rhode Island’s sportsbooks could see an increase in sports betting figures in the coming months.

Breaking down the figures

Looking closer at the figures, the sportsbook at the Twin River location took just under $6.6m in bets. Bettors ended up winning about $6m back, leaving the Twin River sportsbook with just $622,041 in sports betting revenue.

The sportsbook at Tiverton Casino didn’t perform any better. Rhode Islanders wagered $1.7m at the venue and ended up winning $1.5m back. In turn, the sportsbook generated $205,538 in revenue.

It’s important to remember that sports betting in Rhode Island is limited to just two land-based casinos in the state. Rhode Island is unlikely to realize the full potential of its sports betting market until it can get state-wide mobile and online sports betting off the ground.

Elsewhere in the US

Looking to other US states with legal sports betting, New Jersey’s sports betting handle outpaced Nevada’s for the second month this year. This can be attributed to the openness of New Jersey’s sports betting market and the fact that residents can create accounts with online sportsbooks remotely from anywhere within the state. In Nevada, bettors must first register an online betting account in person at a casino sportsbook.

Mobile sports betting also returned to West Virginia this week. After five months without a mobile betting option, residents in the Mountain State can now choose between FanDuel Sportsbook and DraftKings Sportsbook. More operators such as PointsBet and William Hill are also set to launch mobile sports betting apps in West Virginia.

For an in-depth look at each state’s sports betting statistics check out our stats page.

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