In July, Rhode Islanders wagered $20.2m on sports (PS16.0m/EUR18.7m), the lowest total in three years.
The number is 19.8% less than the $25.2m figure in July 2022, and 14.8% less than the $23.7m in June this year. This was the lowest monthly wagering since July 2020, when players bet $6.7m.
Online betting accounted for $15.4m in monthly spending. Another $4.9m in wagers was placed at the retail sportsbooks of Twin River and Tiverton casino, which were split into $3.0m ($1.9m) and $1.0m ($3.0m).
Rhode Island generated $1.9m in revenue in July. This is 34.5% less than $2.9m by 2022, but slightly more than $1.8m.
Online betting accounted for $1.5m of this total. Retail’s portion was $293,397. Twin River posted $298,879 of betting revenue, but Tiverton Casino reported a loss of $5,482, bringing the overall down.
Rhode Island legalizes igaming
Rhode Island has recently legalised igaming, which is why the figures for July have been confirmed.
On 22 June Governor Dan McKee passed Senate Bill 948, which extends Bally’s monopoly on land-based casinos to igaming.
Bally’s Gamesys becomes the only online operator in Rhode Island. It operates under several brands, including Virgin Casinos, Tropicana Casinos and Rainbow Riches Casinos.
The online slot revenue is taxed at 50%, with the remaining being split between Bally’s & IGT. Table games have a lower 18% tax.
In Rhode Island, mobile sports betting is only available to those who are 21 years old and older. This is in accordance with the land-based gambling laws of Rhode Island.
The Rhode Island Division will regulate online gaming. This division oversees both Bally’s Casinos in the state.
Geolocation technology is used to verify that a player physically resides in the state. The law does outline certain conditions under which a player can bet outside of the state. This is possible if the RI Division Lottery signs a reciprocal contract with another state regulator.
