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Rhode Island sports betting revenue declines despite record handle


Rhode Island’s sports betting revenue for October declined slightly from a record September despite its highest-ever handle, as operators took in $2.5m from the vertical.

Players wagered a total of $28.3m on sports in the state, exceeding the previous record handle of $23.6m, set in March. However, after a payout to players of $25.8m, also a state record, October’s revenue figure ended up 2.3% behind the same figure in September.

Online sportsbook handle increased 78% from September in its first full month of activity after the online market opened on September 4.

Winnings from online bets almost doubled from September to a figure of $5.4m October, though, leading to online revenue of $442,686, down 13.7%.

Twin River’s flagship Lincoln casino remained the most popular destination for sports wagering, with players staking $18.4m and the casino taking in revenue of $1.7m, up 6.4% from September but short of its record month of June 2019.

Twin River Tiverton slipped behind the online sector in both stakes and revenue, at $4.1m and $349,607 respectively. Although handle rose 14.1%, revenue fell 20.3%.

The two Twin River venues are the only facilities licensed to accept legal sports wagers in the state.

As the market opened in November 2018, year-on-year comparisons are not yet available.

Players must register in person at either of Rhode Island’s casinos (Tiverton began registering players from September 18) before they can bet via smartphones.