November 30, 2020 Sports Betting, Casino, Land-Based

Rhode Island sports betting handle, revenue trending up

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October saw $34.7m wagered, up from $31.3m in September.

The sports betting market in Rhode Island continues to blossom, as the handle for October saw an improvement both month-over-month and year-over year.

According to the Rhode Island Lottery, the total amount bet on sports was $34.7m in October 2020, up from $31.3 million in September 2020, and up from $28.3m in October 2019.

The October 2020 figure represented an increase of 10.9% from the previous month, and was up 22.6% from the same month one year earlier.

Revenue also saw increases: $4.3m in October 2020, almost double the $2.3m posted the month before, and from $2.5m in October 2019.

Rhode Island has two physical sportsbooks plus online wagering. Twin River continued its role as the leader, with $14m in handle and $1.7m in revenue this October compared to the $5.2m in handle and $694,763 in revenue at Tiverton Casino.

In September, Twin River had $11.5m in handle with $713,571 in revenue, while Tiverton had $5.6m in handle and $783,307 in revenue.

Mobile sports wagering’s handle improved from $14m in September to $15m in October, while revenue skyrocketed from $855,910 in September to $1.9m in October.

As is the case all over the world, sports betting in Rhode Island was impacted significantly by the coronavirus pandemic. The two sportsbooks were ordered closed from March 14 to July 22.

Online wagering received a boost in July when the state government agreed to let people register online rather than in-person.

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