In March, sports betting revenues in Rhode Island dropped 22.5% from the previous year to $3.1 million (PS2.5m/EUR2.9m), despite more players wagering.
The total handle in the last month was $44.9m. This is 8.2% more than March of last year. This is 15.7% more than the wager of $38.8m in Rhode Island for February 2023.
The remaining $7.8m of this total was placed at sportsbooks located on land. Twin River handled $5.6m in retail wagers. Tiverton Casino took $2.2m.
Revenues were marginally higher, though only month over month. In Rhode Island, the total revenue for March was $2.9m which is 6.9% more than what Rhode Island generated in February of this year.
Online betting generated $2.5m in revenue per month. Retail betting, on the other hand, generated only $604,093 of monthly revenue.
Twin River reported $386,363 retail sports betting revenues, whereas Tiverton Casino posted $217,730.
In March, Rhode Island players won $41.8m in wagering. This included $34.5m online, and $7.2m in retail sportsbooks.
Rhode Island tops the list of states with 350.8 million dollars in sales to date
Total expenditure in the nine-month period ending in March was 350.8m.
Retail spending reached $72.8m, while online betting totaled $278.1m.
This totaled $29.8 million in revenue for the same time period. The online betting revenue generated $23.9m, while retail revenues amounted to $5.9m at the two casinos.
The total amount of winnings by players in the first nine months was $321.0m. Of this, $254.2m came from online bets and $66.6m were retail.
Rhode Island introduces igaming
In Rhode Island the online gambling market was launched in March, nearly eight months after its legalisation.
Bally’s clients can now play table and slot games via iOS or desktop. Players who have a Bally’s account online or on mobile and are 21 years of age can play the games.
Stakelogic, a supplier of live table games and software for table and dealer games, supported the launch by providing studio and technology and supplying table and dealer games with live dealers.
A successful test on the technical side led to the public launch.
