Rhode Island March sports betting revenue grows 156% from prior month

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The Rhode Island Lottery reported March sports betting revenue of $4m, a 156% increase from February and a 372% jump year-on-year.

March handle was $38.6m, up from $34.4m in February and an increase of 334% y-o-y.  In March 2020 bettors faced limited saw limited sports wagering opportunities amidst the global stoppage of sports as the Covid-19 pandemic gained force.

Nevertheless, Rhode Island’s March figures are a positive sign.

The NCAA Tournament is largely behind the tremendous growth in handle and revenue between February and March. Though Rhode Island’s population is just north of a million, the state attracts bettors from Connecticut and Massachusetts, places where basketball is extremely popular.

Mobile sports betting accounted for $21.2m, or 55%, of March’s total handle. Retail sports betting is offered at Twin River Casino Hotel and Tiverton Casino Hotel.

William Hill and partner International Game Technology are the lone mobile sportsbook provider for Rhode Island customers.

Former Rhode Island Gov. Gina Raimondo, who left office this January, proposed a 20-year, no-bid $1bn extension between the state lottery and IGT, but that deal has since come under fire.

IGT is currently slated to control Rhode Island gaming technology through 2043, but critics of the deal say it doesn’t leave enough money in the state coffers.

Earlier this week, Rhode Island House Speaker K. Joseph Shekarchi told the Providence Journal “With all due respect to Governor Raimondo and her administration ... I'd like a better deal.”

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