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Retail resurgence drives RI sports betting revenue in August


The Rhode Island Lottery has reported an increase in sports betting revenue and player spending in August, primarily due to increased activity at the state’s two retail sportsbooks.

Revenue for the month totalled $1.4m, a 64.4% year-on-year rise from $851,788 in August of last year, while the figure also represented a 298.4% increase on $351,425 in July this year.

Players wagered $23.1m on sports during August, up 244.8% on July’s total and also 117.9% from August 2019.

Retail overtook mobile to become the primary source of sports betting income in the state, with revenue for the channel amounting to $932,790. Players spent a total of $12.7m at the Twin River and Tiverton Casino sportsbooks.

In comparison, mobile revenue for the month reached $490,601, with consumers having spent $10.4m on sports betting, winning $9.9m in the process.

Land-based sportsbook facilities partially reopened on June 8 after the novel coronavirus (Covid-19) shutdown, but continue to operate with certain restrictions in place.

Breaking down the retail figures, Twin River performed the better out of the two casinos, with its sportsbooks taking $7.3m in wagers and posting $638,143 in revenue.

Tiverton Casino processed $5.4m in sports bets and, after paying out $5.1m in winnings, was able to record $293,647 in revenue for the month.

For the financial year to date, which in Rhode Island runs from July 1 to June 30, sports betting revenue stood at $1.8m, up from $1.7m at the same point last year, while the state’s handle more than doubled from $14.7m to $29.9m.