Huge increase in sports betting revenue in Rhode Island

Twin River’s Lincoln facility is the most popular sports betting venue in Rhode Island.

Rhode Island (United States) sports betting revenue almost tripled month-on-month to US$2.5 million in September, with an increase in retail betting accompanied by the first contribution from mobile. Total market revenue was up 195.4 percent from US$851,778 in August, breaking the previous monthly record of US$2.2 million set in June of this year. Players wagered US$22.2 million, which represents a 120.6 percent increase on the previous months’ US$10.1 million. As the market opened in November 2018, year-on-year comparisons are not yet available.

The most popular form of sports betting is retail, with consumers spending in September a total of US$18.9 million at the Twin River Casino in Lincoln and Twin River Tiverton site. This was up 177.7 percent from a total retail spent of US$10.6 million in August, prior to the launch of mobile sports betting. Twin River’s Lincoln facility was by far the most popular of the state’s two sports betting venues, generating US$1.6 million in land-based revenue, up from US$607,836 in August. Consumers placed US$15.3 million in retail wagers at the site, up 98 percent from in the previous month. At the Twin River Tiverton, retail revenue increased from US$243,952 in August to US$438,790. Players also spent more on retail bets, with the US$3.6 million in September being 54.0 percent ahead of US$2.3 million in August.

In terms of mobile, which officially launched on September 4th, revenue amounted to US$512,740 after players staked US$3.3 million in the month. Players must register in person at either of Rhode Island’s casinos before they can bet via smartphones.