Sports betting handle and revenue fell year-on-year in Rhode Island in November, although there was a slight month-on-month rise in player spending.
Bettors spent $48.3m (£38.2m/€44.1m) on sports wagering in Rhode Island in November. This was 21.1% down from $61.1m in 2022 but 5.5% ahead of $45.8m in October 2023.
Of this total, $38.6m was wagered with online sportsbooks in Rhode Island. A further $9.6m was spent at retail locations at Twin River and Tiverton Casino. Twin River took $6.0m worth of bets in November and Tiverton Casino $3.6m.
Revenue slips to four-month low in Rhode Island
As for revenue, this amounted to $3.4m. Not only was this 30.6% behind $4.9m generated in November 2022 but also 24.4% less than $4.5m in October 2023.
The Rhode Island Lottery also noted the November total was the lowest monthly amount since $1.4m was reported in August 2023.
Online betting accounted for $2.6m of all revenue in November. Retail’s share amounted to $837,173, of which $488,920 came from Twin River and $348,253 Tiverton Casino.
It was also noted that players won a total of $44.9m from sports betting during the month. Some $36.1m came from online wagering and $8.8m retail.
Financial year-to-date handle surpasses $170.0m
Looking at the financial year-to-date, total player spend in the five months through to the end of November was $174.5m. This included $136.8m from online betting and $37.7m retail.
Revenue-wise, this reached $13.7m for the five-month period. Online generated $11.7m in revenue and retail sportsbooks $3.0m.
Rhode Island players won $159.8m from sports betting in the reporting period.
