Rhode Island betting revenue surpasses $2m in February

Rhode Island’s sports betting industry reported modest figures in February.

According to figures from the Rhode Island Lottery, the state’s sports betting industry generated $2.3m in revenue in February, down from the $3.3m generated in January.

Despite the month-on-month drop, these figures represent a significant improvement on the loss of $890,623 reported in February 2019. In terms of handle, bettors in the state wagered $28.1m on sporting events, which was a 4.5% month-on-month increase on the $26.9m wagered the month prior.

Breaking down the figures

The sportsbook at the Twin River Lincoln casino was once again the most popular sportsbook amongst bettors after handling $15.2m in sports wagers. The Lincoln venue also generated $908,264 in revenue making it the market leader in February.

The Twin River venue in Tiverton generated $413,626 in revenue which represents a major 2,244.7% on the $17,641 generated the same time last year. Sports betting handle also saw a year-on-year increase to $4.5m.

Mobile sports betting revenue amounted to $407,050, representing a 47% month-on-month decrease on the $772,836 mobile betting generated in January. February also marked the lowest-performing month for mobile betting revenue since the mobile sports betting service launched. However, mobile sports wagering handle was up 9% on the $7.8m wagered in January up to $8.5m in February.

Sports betting in Rhode Island

Sports betting in Rhode Island was initially restricted to two land-based casinos, which was detrimental to the market. In August 2019, the Twin River branded mobile sports betting app went live in the state.

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.

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