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RI sports betting revenue rises in July


The Rhode Island Lottery saw sports betting revenue grow in July, as the state’s market continued to recover from the novel coronavirus (Covid-19) shutdown.

Revenue amounted to $351,425, which represented a 246.8% rise on $101,328 in June, but also a 57.5% drop on $821,579 reported in July last year.

Player spending was also up 236.9% month-on-month to $6.7m, but this was less than half the $14.7m wagered by consumers in July 2019.

Mobile remained the main source of income for licensed operators, with revenue during the month reaching $407,471, after consumers wagered a total of $4.4m.

In terms of land-based activities, retail sports betting generated an overall loss of $56,046, which pushed the overall revenue figure down. Players spent $2.3m at retail sportsbooks during the month.

Retail sportsbooks partially reopened on June 8, after having been closed since mid-March due to the pandemic, but continue to operate at limited capacity in line with state regulations related to Covid-19.

Twin River took the most wagers in July, but despite players spending $1.8m at the venue, they also won $1.9m, which meant the casino posted a loss of $95,174 in July.

Tiverton casino took $527,269 in wagers, but as players only won $488,141, this left the venue with $39,128 in retail revenue for the month.

Rhode Island is also set to make its mobile sportsbook more accessible, with a bill removing the in-person registration requirement for bettors awaiting Governor Gina Raimondo’s signature.

Amendment H 8097 would permit patrons to set up and use a sports betting account from outside physical gambling facilities, meaning they would not need to visit a venue in-person to complete their registrations.

However, it would still require players to be phsycially located in the state before they could place bets.