Rhode Island sports betting revenue hits record $6.3m in November

Rhode Island’s sports betting market had its best month for betting revenue yet in November.

According to the latest figures from the Rhode Island Lottery, sportsbooks in the Ocean State generated $6.3m in betting revenue in November, a new monthly revenue record for the market.

November’s revenue was 43.2% higher than the previous record of $4.4m set in October 2020 and 133.3% higher than the $2.7m generated in November 2019.

Bettors in the state wagered $35.1m on sports in November marking an 11.4% increase on the $28.8m wagered the previous year. November’s handle was also slightly up on the $34.7m wagered the month prior.

Mobile vs land-based betting in Rhode Island

Bettors in the state wagered $15.7m on sporting events via mobile devices in November, leaving the state’s online sportsbook platform with $2.6m.

When it comes to land-based betting, the state’s two casino sportsbooks generated a combined $3.7m in revenue from a total $19.4m in bets.

The sportsbook at the Twin River Lincoln venue was the favourite land-based venue among bettors after processing $14.5m in bets and holding onto $2.5m.

The Twin River Tiverton venue managed to generate $1.2m in revenue from $4.9m in bets.

For the financial year to date, in the five months ending November total market revenue for Rhode Island amounted to $14.8m while bettors wagered $131m. 

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, 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.

With the passage of the amendment, HB 8907, Rhode Islanders can now complete the registration of online sports betting accounts anywhere within state lines.

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