Rhode Island sports betting surges to 10-month high

Lea Hogg December 4, 2023

In October, the sports betting handle and revenue in Rhode Island reached a 10-month peak, showcasing resilience despite facing year-on-year declines in both metrics. The Ocean State witnessed a robust performance, with players wagering a total of US$45.8 million (￡36.1 million/€42.2 million) during the month.

Handle highlights

Rhode Island’s sports betting handle for October marked a 25.2 percent decline from the same period in 2022, when it stood at US$61.2 million. However, it demonstrated a noteworthy 21.8 percent increase from September 2023, indicating the dynamic nature of the state’s sports betting landscape. It is also interesting to see that October’s handle was the highest since the record-setting U$ 62.3 million recorded in January 2023.

Of the total October handle, US$36.4 million was wagered online, while US$ 9.5 million found its way to retail sportsbooks. The breakdown included US$ 6.3 million at Twin River and US$ 3.2 million at Tiverton Casino.

Year-on-Year dips

Despite year-on-year declines, Rhode Island’s sports betting revenue in October exhibited resilience. The US$ 4.5 million generated reflected an 8.2 percent decrease from October 2022’s US$ 4.9 million but showcased a robust 28.6 percent surge from September’s US$ 3.5 million. October’s revenue figure stood as the second-highest of the calendar year, with only January’s US $5.2 million surpassing it.

Mobile betting contributed significantly to the revenue, accounting for US$ 3.7 million, while retail sportsbooks generated US$ 835,276. Twin River led in betting revenue with US$ 584,987, closely followed by Tiverton Casino with US$ 250,289.

Steady growth despite challenges

Examining the year-to-date figures for Rhode Island up to the end of October revealed a total handle of US$ 126.2 million. Of this, US$ 97.1 million was spent online, emphasizing the growing significance of digital platforms, while US$ 28.1 million was spent at retail facilities. Revenue for the same period amounted to US$ 11.3 million, with online betting contributing US$ 9.2 million and retail contributing US$ 2.1 million.

In the ten-month period, players in Rhode Island secured winnings totalling US$ 114.9 million, showcasing the vibrancy and ongoing engagement within the state’s sports betting ecosystem despite the challenges posed by year-on-year declines. The data suggests that Rhode Island’s sports betting landscape remains dynamic and resilient, adapting to evolving market conditions.

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