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Rhode Island sports betting revenue hits record high in April


Sports betting revenue in the state of Rhode Island hit an all-time high of $1.97m (£1.56m/€1.77m) in April, despite a significant decline in customer activity over the month.

The Twin River casinos in Lincoln and Tiverton – the only facilities licensed to accept legal sports wagers in the state – processed a total of $16.9m in bets last month, paying out $14.9m.

While the overall amount wagered was at its lowest since December 2018 – the first full month of regulated sports betting after the state opened its market in the month before – customer winnings were at their lowest this year.

This meant the state was able to post all-time high revenue of $1.97m, up from the previous record of $1.55m that was set in March and a stark contrast to the loss of $890,623 reported in February.

The Twin River Lincoln facility once again proved to be the more successful of the two licensed venues, posting revenue of $1.57m for April – a monthly record for the site.

The Lincoln casino took a total of $13.6m in bets, paying out $12.1m in winnings to customers.

Sister property, the Twin River Tiverton, reported revenue of $399,149, just short of its own monthly record that it set in March with $408,062. The facility processed $3.2m in bets and paid out $2.80m in winnings.

For the first four months of the year, overall sports betting revenue in Rhode Island amounted to $3.8m. The two licensed casinos have taken $94.0m in bets and paid out $90.1m to punters.

Rhode Island currently only offers land-based sports betting to consumers, but Governor Gina Raimondo in March signed off on a bill to also permit wagering via mobile. However, both Twin River casinos are yet to roll out mobile betting services.

Image: Morrow Long