Rhode Island sports betting revenue reaches $2.9m in February

Sports betting revenue declined 42 per cent from January.

US.- Rhode Island’s sports betting revenue was $2.9m in February, down 42 per cent from January and down 19.4 per cent from February 2023. The handle was $38.8m, down 13.4 per cent from January and 10 per cent from February of last year.

Some $30.4m was bet online, representing 78.4 per cent of the handle. Online operators paid out $30m in winnings. Of the $8.4m in bets received by retail, Twin River registered $6m and Tiverton Casino $2.4m. Tiverton Casino generated $288,000 in revenue and Twin River $206,000.

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In March, Bally’s Corporation announced the launch of regulated online casino in Rhode Island. It’s the only operator in the market, which has become the seventh US jurisdiction to regulate igaming after New Jersey, Connecticut, Michigan, Delaware, Pennsylvania and West Virginia.

A bill to legalise online casino in Rhode Island became law in June after being signed by governor Daniel McKee. Bally’s has exclusive rights to operate via its Twin River and Twin River-Tiverton properties with IGT as its vendor.