Rhode Island betting revenue surges in March

Rhode Island’s sports betting market reported significant year-on-year growth in March.

According to the latest figures from the Rhode Island Lottery, bettors in the Ocean State wagered $38.6m on sports in March.

March’s handle marked a significant increase on the $34.1m wagered in February, but it was lower than the record $39.8m wagered in January.

Rhode Island’s betting handle in March was also up from the $9m wagered on sports in March 2020. 

Sportsbook revenue across land-based and mobile betting amounted to just under $4m in March. 

March’s revenue was up from the $1.5m generated in February and the $3.7m generated in January. Revenue in March was up by 372.4% on the $841,767 generated for the same period last year.

As with all US states, Rhode Island’s land-based sportsbooks were forced to close partway through March 2020. Several sporting events were also called off in March 2020 as a result of the coronavirus pandemic.

Breaking down March’s land-based figures

Looking closer at the state report, the land-based sportsbook at the Twin River venue processed $12.8m in bets and managed to generate $1.5m in revenue.

Compared to last year, Twin Rivers’ sportsbook saw its revenue increase by 235.5% from $441,355 and its handle was up 184.4% on the $4.5m wagered last year.

Meanwhile, the sportsbook at the Tiverton Casino managed to generate $633,390 in revenue from $4.6m in sports wagers.

The Tiverton Casino saw its revenue increase by 243.1% on the $184,610 generated in the same period last year. Tiverton’s handle was also up by 228.6% from the $1.4m wagered in March 2020.

Mobile betting continues to see growth

Rhode Island’s mobile betting option continued to be the most popular way to bet in March.

Bettors in the state wagered $21.2m on sports via the state’s sports betting app which was up 583.9% year-on-year from $3.1m last year.

Meanwhile, mobile betting revenue amounted to $1.9m and was up from the $215,802 generated from mobile betting in March 2020.

Initially, Rhode Island’s betting market was restricted to in-person betting at the state’s two land-based casinos. However, in August 2019, the Twin River branded mobile sports betting app went live in the state.

In July, Rhode Island Governor Gina Raimondo signed an amendment into law that would allow potential sports bettors to complete their online account registration remotely without having to visit one of the state’s casinos.

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