Rhode Island’s sports betting market recovered in August.
According to figures from the Rhode Island Lottery, sportsbooks in Rhode Island processed more than $10m in sports wagers, up from the $8.3m wagered in July.
Sports betting revenue also saw a slight increase in August, with sportsbooks holding onto $851,788 up from the $827,579 generated in July.
Looking closer at the figures
The sportsbook at the Twin River venue took $7.7m in sports bets and paid out $7.1m in winning wagers. This left the sportsbook with just $607,836 in sports betting revenue.
Rhode Islanders wagered $2.3m on sporting events at the Tiverton Casino sportsbook. Bettors managed to win just over $2m from the venue in August, leaving the sportsbook with $243,952 in revenue.
Sports betting in Rhode Island
Rhode Island’s sports betting industry has had a rough couple of months, with revenue fluctuating every month, but August’s figures could indicate a shift in the market.
Football season is one of the busiest periods for sportsbooks, and now that football season is in full swing, it is likely that sportsbooks could see a surge in handle and revenue.
Since sports betting went live in Rhode Island, the activity has been restricted to two land-based casinos, which has been detrimental to the market. However, last month, the state of Rhode Island saw the soft launch of the Twin River branded mobile sports betting app.
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.
Sports 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.
For an in-depth look at each state’s sports betting statistics check out our stats page.
