Rhode Island sportsbook revenue exceeds $2.1m in June

Things may be looking up for Rhode Island’s sports betting market after the state’s two sportsbooks posted record-high revenue numbers for June.

According to figures released by the Rhode Island Lottery, the two sportsbooks in the state posted a combined revenue of $2.15m, up from $899,165 in May.

However, sports betting handle took a dip down to $14.7m from the $18.9m wagered in May.

Breaking down the figures

June marked the best month for both the Twin River and Tiverton Casino sportsbooks with both venues reporting record-high revenue figures.

The sportsbook at the Twin River venue took $11.7m in wagers making it the most popular sports betting venue in the state. The Twin River sportsbook generated $1.7m in revenue in June.

The Tiverton venue managed to generate $445,387 in revenue after punters in the state wagered just over $3m at the venue.

Football season coming soon

Rhode Island’s sports betting markets have a had a rough couple of months with revenue fluctuating from month to month. But, with football season starting in September, it could provide a necessary boost to the industry.

Football season is one of the busiest periods for sportsbooks with punters lining up to place bets on their teams.

Although Rhode Island has only had legal betting since November 2018, figures show that large scale sporting events have provided sportsbooks with a significant boost to handle in revenue.

In February, Rhode Island sportsbooks took $20.7m in wagers, which can be attributed to Super Bowl betting.

March Madness betting helped boost sportsbook handle and revenue in March with punters wagering $23.6m, the highest handle recorded in the state.

In theory, football season could help to boost Rhode Island’s sports betting handle and revenue figures in the coming months.

For an in-depth look at each state’s sports betting statistics check out our stats page.

 

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