Rhode Island betting revenue drops to $2.4m in October

Rhode Island’s sports betting revenue dropped despite sportsbooks posting their highest betting handle to date.

According to figures from the Rhode Island Lottery, Rhode Islanders wagered a total of $28.3m on sports in October, up from the $22.2m wagered in September.

Rhode Island’s Sports betting revenue dropped to $2.4m in October from the $2.5m generated the month prior.

Breaking down the figures

Looking closer at the figures, the sportsbook at Twin River Casino processed more than $18.3m in wagers and held on to just $1.6m in revenue.

The sportsbook at Tiverton Casino managed to generate $349,607 in revenue from more than $4m in sports wagers.

October also marked the second month of online sports betting in the Ocean State. Residents in the state wagered $5.8m via the state’s mobile sports betting platform leaving the operators with $442,686 in betting revenue.

Sports betting in Rhode Island

Sports betting in Rhode Island was initially restricted to two land-based casinos, which was detrimental to the market. However, the state of Rhode Island saw the soft launch of the Twin River branded mobile sports betting app in August.

Now that the state has a mobile betting option, residents will be able to place bets using the mobile app, rather than travel across the state to visit one of the two land-based sportsbooks. However, bettors that wish to wager on the mobile app must first visit a casino sportsbook to activate their mobile sports betting account. Once the account has been set up, they will be able to wager remotely from anywhere within the state.

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

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