Rhode Island sports betting revenue up 76% in October

Rhode Island wagered  $34.7m in October.
Rhode Island wagered $34.7m in October.

Both stakes and revenue increased substantially in Rhode Island in October.

US.- Sports betting stakes and revenue in Rhode Island grew significantly in October.

According to the Rhode Island Lottery, the state wagered $34.7m in October, a 22.6 per cent increase from the $28.3m handle in October 2019 and a 10.9 per cent rise from September 2020.

That led to revenues of $4.4m, up by 76 per cent increase from the $2.5m earned in the same month last year, and up by 83.3 per cent from the $2.4m earned in September.

The state’s tax receipt for the month totalled over $2.1m since it is entitled to 50 per cent of online sports betting revenue.

The growth in revenues came through increased activity in mobile and online sportsbooks, which accounted for nearly $2m of revenue. The figure represents growth of 133.6 per cent from the $856,000 digital platforms generated in September.

Retail sportsbooks also continued to see strong handles, with $14m wagered at the Twin River Lincoln casino and the $2.2m that was wagered at the Tiverton casino.

Rhode Island’s sports betting handle also rose substantially in July, as sportsbooks in casinos reopened and rules on in-person registration were lifted.