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Sports Betting

RI Lottery earns $6.3m in sportsbook revenue for November

The Rhode Island Lottery has reported $6.3m in sportsbook revenue for November, while the total betting amount was $35.1m. It’s an increase from October, when betting sums totaled at $34.7m and book revenue was $4.4m.  

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Twin River earned $2.5m in book revenue, Tiverton Casino brought in $1.2m, and online sports betting made up the largest contributions with $2.6m.

Online betting became legal in Rhode Island in 2020, and it’s slowly becoming more popular: July’s betting handle was $4.4m and in November the sum rose to $15.7m. 

According to the report, casinos were closed on 29 November and reopened on 21 December, which impacted on premise sportsbooks and November’s totals lost few days of revenue.  

Total table game net revenue for November was $5.1m, quite a sizable drop from $7.4m recorded in October. $4.1m came from Twin River, $51,221 from Tiverton and from $793,917 from RI Lottery. 

November cash from video lottery terminals was $169.1m, a drop from October’s $225.3m. Net terminal income for November was $20.3m. 

Reportedly, Rhode Island benefits from players from Massachusetts and Connecticut. The neighbouring states are still working on possible betting laws and regulations.

The state’s casino industry was closed few times in 2020 in response to the pandemic, but Rhode Island’s totals reflect that revenue can rely on online betting.  

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