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Rhode Island sports betting revenue reaches $36.2m in FY2021


Sports betting revenue in Rhode Island amounted to $36.2m in the state’s 2021 financial year, almost double the total generated in the previous 12-month period.

Revenue for the 12 months to the end of June was 93.6% higher than $18.7m in the 2020 financial year, though the previous year was impacted by enforced property closures from mid-March a result of the novel coronavirus (Covid-19) pandemic.

Retail sportsbooks did not return to normal operations until May 20 this year, while they were also forced to endure a period of temporary closure between November 29 and December 21.

The majority of wagering revenue was generated online, with operators posting a total of $18.3m, while retail revenue amounted to $17.9m.

In terms of player spending, consumers in Rhode Island bet a total of $353.0m on sports in the 12-month period, up 76.3% year-on-year.

Some $184.6m was wagered online, compared to $168.4m with the state’s two land-based sports betting operators.

Twin River was the more successful of the two retail locations, posting $11.7m in revenue off a handle of $118.9m.

Tiverton Casino saw revenue reach $6.2m after taking $49.5m in sports bets during the year.

Players won a total of $316.8m from sports betting in the state’s 2021 financial year.

In terms of the final month of the year, revenue in June reached $3.7m, the highest monthly total since March, which the state’s handle amounted to $29.5m.

Online revenue stood at $1.7m for the month off a handle of $14.6m, while retail revenue hit $2.0m as the handle reached $14.8m.