Rhode Island posted sportsbook revenue of $2.8m for May, representing a 12.5% decrease from the previous month.
However, compared to the same period last year – when sporting events were suspended by the novel coronavirus (Covid-19) pandemic – the state’s revenue has skyrocketed by 1596.3% from $163,472.
$28.3m was wagered in total during the month, which was only a slight 2.4% decrease from the month prior. Payouts also fell slightly, dropping 1.5% to $25.5m.
Both figures are up significantly from this time last year however, with handle rising 1780.0% and payouts increasing by 1721.4%.
Online betting proved to be main source of revenue, generating $1.4m.
Bally’s Corporation’s Twin River Casino in Lincoln recorded a further $963,565 in revenue from retail betting, followed by $458,562 from the operator’s Tiverton Casino.
The easing of coronavirus restrictions coupled with the return of regular major sporting events has contributed significantly to the increased betting activity seen in 2021.
Combined revenue for the year now stands at $32.5m – 73.8% higher than the $18.7m generated in the entirety of the state’s last fiscal year – with the combined handle amounting to $323.5m (61.6% higher than last year’s total).