Last updated on February 25th, 2025 at 03:18 am
The sports betting handle in Rhode Island was $44.8 million in January. It decreased 6.5 percent from December’s handle of $47.9 million. Also, it was the lowest handle since September. The handle decreased 38.1 percent from the same month last year.
According to PricePerPlayer.com sources, the amount wagered was $34.8 million online and $13.1 million at brick-and-mortar sportsbooks. Bets totaling $6.4 million went to Twin River, while $3.6 million went to Tiverton Casino out of the total retail handle.
Sportsbooks had a solid month despite the decline in the handle, bringing in $5 million in total income. This is more than 5% over December’s $4.1 million and the highest total since Rhode Island began its fiscal year.
Sports Betting Handle in Rhode Island
Three and a half million dollars, or 76% of the total, came from online sources. According to Global Gambling sources, Twin River was more successful than Tiverton Casino. The former got $845,340 compared to the latter’s $402,750.
The second part of Rhode Island’s fiscal year 2024 has begun. A total of $267.2 million has been handled thus far in FY2024. Rhode Island’s handle was $332.8m at the exact moment in FY2023, which was 19.7 percent greater than FY2024.
Income has decreased as well. So far this fiscal year, Rhode Island has brought in $23.8 million from its sportsbooks. Its sports betting income was $34.8m in FY2023, up 31.6% over the previous year at the same point. Thus, it is an excellent time to become a bookie in the state.
The lottery is also subject to a year-on-year decline. January gross sales from the Rhode Island lottery were $25.3 million, down from $28.6 million in December and an even steeper decline from $29.2 million in the corresponding month last year.
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