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Rhode Island sports betting revenue reaches $3.2m in April


Sports betting revenue in Rhode Island amounted to $3.2m in April, while the US state’s handle reached $29.0m during the month.

Revenue was 11,472.0% higher than the $27,381 generated in the same month last year, but the 2020 figures were severely impacted by novel coronavirus (Covid-19) with players only able to wager via mobile. Wagering options were also limited as the pandemic saw almost all sports events cancelled or postponed.

On a month-on-month basis, revenue was down 20.0% from the $4.0m collected in March this year.

Retail sportsbooks were responsible for $1.5m of all revenue for the month, compared to a $821,000 loss in 2020, while mobile betting was 5,927.9% higher at $1.7m.

In terms of player spending, the state handle was up 4,810.7% year-on-year to $29.0m, but 24.7% lower than the $38.6m wagered by players in March this year.

Mobile wagers for the month amounted to $16.1m, while consumers bet a total of $12.9m at retail sportsbooks in the Twin River and Tiverton Casino sites.

Twin River performed the better out of the two casinos, posting $953,908 in revenue off a handle of $8.8m, while the Tiverton Casino generated $522,159 in revenue from $4.1m in player bets.

Players won a total of $25.9m from sports betting, split $14.4m on mobile and $11.5m from retail.

For the year to date, sports betting revenue in the 10 months to the end of April reached $29.7m, while the state’s handle amounted to $295.3m for the period.