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Rhode Island sports betting revenue slips in May


Legal sports wagering revenue in Rhode Island fell 54.4% month-on-month to $899,165 in May, despite punters spending more on betting than in April.

The Twin River Lincoln and Tiverton casinos, the only two venues licensed to offer sports betting in the US state, took a total of $18.9m in wagers, up from $16.9m in the previous month.

However, with the casinos paying out a combined $18.0m to punters – compared to $14.9m in May – revenue fell and ended two consecutive months of revenue growth in Rhode Island.

Twin River’s Lincoln remained the venue of choice for consumers in the state, with players spending a total of $14.6m on sports betting in May, up from $13.7m in the previous month. The Lincoln facility paid out $14.1m in overall winnings, leaving it with revenue of $574,703 for the month.

In contrast, Twin River’s Tiverton casino processed $4.3m in sports bets and paid out $3.9m, resulting in revenue of £324,462 in May. This was down on revenue of $399,149 in April, despite the venue experiencing a higher handle.

For the five months to the end of May, the Twin River Lincoln and Tiverton casinos have taken a collective $122.9m in sports bets and paid out £101.1m to punters, resulting in a combined revenue of $4.7m.

Rhode Island consumers can only currently wager on sports in-person, despite Governor Gina Raimondo in March signing off on a bill to also allow betting on mobile. Neither of the Twin River casinos has launched mobile wagering to date, with testing not expected to begin until August.