Rhode Island sportsbook handle and revenue dips in December

Rhode Island’s sports betting market saw a significant drop in handle and revenue in December 2020.

According to the latest figures from the Rhode Island Lottery, bettors in the Ocean State wagered $22.8m on sporting events in December, a significant drop on the $35m wagered the month prior.

Revenue also dipped in December with sportsbooks in the state generating $2.5m in revenue down from the record $6.3m generated in November.

Mobile vs land-based

Mobile betting in Rhode Island made up the majority of the state’s handle and revenue in December.

Bettors in the Ocean State wagered $18.3m and after customers won back $16.1m from the state’s operator mobile sports betting revenue amounted to $2.3m.

The state’s land-based market took a massive hit in December with a combined $301,703 in revenue from $4.4m in total land-based bets. This marked a significant drop from the $19.4m wagered and $3.7m generated in November.

In December, the sportsbook at the Twin River Lincoln venue was the favourite land-based venue among bettors after processing $3.3m in bets and holding onto $64,027.

Meanwhile, the Twin River Tiverton venue managed to generate $237,676m in revenue from $1.2mm in bets.

Land-based closures hit market

The drop in sports betting handle and revenue can be attributed to the impact of casino closures in December.

Both of the state’s land-based casinos were forced to close between 29 November and 21 December due to a rise in coronavirus cases across the state.

Once they were allowed to reopen, the venues were limited to operating between 6am and 10pm from Sunday to Thursday, and until 10:30pm on Fridays and Saturdays.

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