Rhode Island sports betting revenue hits $163,472 in May

Rhode Island’s sports betting market is still feeling the impact of the coronavirus pandemic but saw some month-on-month improvement.

According to the latest figures from the Rhode Island Lottery, bettors in the state wagered $1.5m on sporting events in May, representing an 89.7% year-on-year decrease in sports betting handle.

Sports betting revenue amounted to $163,472 in May down from the $574,703 generated the same time last year.

Although the figures are down year-on-year, May’s figures marked a slight improvement on the $591,377 wagered and $27,381 generated in April.

Due to the coronavirus pandemic, the state’s land-based casino sportsbooks were closed in May meaning that all betting activity in the state took place via the state’s mobile sports betting platform.

Breaking down the figures

Looking at the figures, the sportsbook at Twin River Lincoln generated $1,032 in land-based revenue from $2,130 in bets placed at the venue before the lockdown was implemented.

The sportsbook at Tiverton Casino processed $313 in bets before the casino closed and generated just $32.

Mobile sports betting handle accounted for $162,408 in revenue after bettors wagered $1.5m on sporting events.

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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