Rhode Island Sports Betting Handle Falls but Revenues Grow in March
LISTEN TO THIS ARTICLE:While the state of Rhode Island reported a decline in the gambling handle, it still saw sports revenue increase by 8.1% in March when compared to the same month last year.
In March, Rhode Island players bet a total of $41.5 million on sports, down 9.4% from $45.8 million in March 2022. It was also 3.7% lower than the $43.1 million that was bet in February this year.
From the $41.5 million, $30 million was wagered online, and the remaining $11.5 million was bet at land facilities at the Twin River and Tiverton Casino venues. A total of $6.2 million was bet at Twin River, and $5.3 million was bet at Tiverton.
However, monthly revenue grew to $4.0 million, up from $3.7 million in March 2022 and up 11.1% from the $3.6 million bet in February this year. The majority of revenue, $3.0 million, came from online betting, while the remaining $1 million was split between the two casinos. Twin River saw $598,666 in revenue, and Tiverton Casino $370,803.
Across the month, players won a total of $37.6 million from betting online and in person.
For the year-to-date, the total handle in the nine months to the end of March was $417.5 million, revenue is at $42.2 million, and player winnings are $375.3 million.
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