Rhode Island sports betting market below expectations
The state posted its best month yet in March but the figures are still below expectations.
US.- Rhode Island experienced its best month to date in March, the Rhode Island Lottery revealed on Monday. However, the figures are still below the expectations that lawmakers estimated when they approved the segment.
Sportsbooks in the state made US$1.54 million in March, which is characterised by featuring the NCAA basketball tournament March Madness, one of the most important in the country. The figure was an improvement from February, when the state’s Twin River Casino lost approximately US$900k to gamblers.
Current regulations establish that Rhode Island takes more than half of all sports betting revenue. This puts its Mach take at around US$775k. Since the sports betting segment was launched in November 2018, the operations in the state have made a total of US$1.8 million so far with only three months left in the current fiscal year.
Profits rose in March along with the number of bets made, with US$23.6 million wagered and US$22 million paid out. Back in February, players placed US$20.7 million in bets.
