Rhode Island – Bookielink

October 31, 2024

US September round-up: Sports betting in Colorado, New Hampshire and Rhode Island

Analysing some of the latest monthly sports betting reports in the US, iGB takes a look at how Colorado, New Hampshire and Rhode Island performed in September.

Colorado scores year-on-year growth in September

Starting in Colorado, the Colorado Department of Revenue this week reported total handle across online and retail in September hit $562.9 million (£433.0 million/€518.5 million). This beats last year by 9.8% and also surpasses August’s total by 51.2%, according to the Colorado Department of Revenue.

Of all wagers placed during September, $558.1 million was online and $4.8 million at retail sportsbooks.

Betting volume was helped by the start of the NFL season. Some $173.1 million was bet on American professional football in September, far more than any other sport. Baseball betting topped $69.0 million and college football $42.3 million.

Gross gaming revenue for September was $55.1 million, up 21.6% from last year and 66.0% more than August. Online contributed $54.6 million to..

June 10, 2024

Weekend Report: Rhode Island credit limit potentially on the rise

Welcome to the Weekend Report, where iGB updates you with the stories you may have missed over the last few days.

Rhode Island credit limit potentially doubling

On Thursday (6 June), the Rhode Island senate voted to increase the outstanding credit per player to $100,000 (£78,697/€92,973). The house is now expected to review the bill this week.

The amended bill passed with a vote of 28-5 to raise the limit from the previous $50,000 which had been in place since 2014.

Igaming launched in Rhode Island in March. Bally’s Corporation essentially has a monopoly on igaming in Rhode Island following state legislators’ 2021 approval of a 20-year contract for Bally’s and supplier IGT.

The bill was introduced by Senator Frank Ciccone III and Senate President Dominick Ruggerio. The bill’s text states that the aim of the rising credits is to “increase Rhode Island’s competitiveness in the gaming industry”.

However, the bill is also facing opposition. As reported by the Rhode Island Current, Se..

April 3, 2024

Rhode Island sports betting revenue plummets 42% in February

Rhode Island saw a 42% drop in sports betting revenue for February, the month before igaming went live in the state.

Rhode Island reported $2.9m (£2.3m/€2.7m) in sports betting revenue for February, significantly down on the $5m accumulated in January. February’s revenue also fell 19.4% short of the same month last year, when the Ocean State accumulated $3.6m in revenue.

The state’s February handle also declined by 13.4%, down to $38.8m from $44.8m in January. Additionally, Rhode Island’s handle dropped year-on-year, with February’s total 10% behind the $43.1m accepted in bets in the same month last year.

Online continues to command the most interest with $30.4m in handle, 78.4% of the total. Online operators paid out $30m in winnings.

Of the $8.4m in bets received by retail, Twin River led the way with $6m, while Tiverton Casino took $2.4m in wagers. Despite the large disparity in handle, Tiverton Casino actually accumulated more revenue, generating $288,000 to Twin River’s $206,0..

February 28, 2024

Rhode Island’s sports betting handle declines by 6.5% in January

Rhode Island’s January sports betting handle saw a 6.5% decline from December’s figures, although revenue was up by almost 22%.

Rhode Island recorded $44.8m in sports betting handle for January, a significant decrease on December’s number of $47.9m and the lowest since September. The handle also fell 28.1% behind the same month last year, which was a record.

$34.8m of the handle was wagered online, while the other $13.1m was bet at retail sportsbooks. Of the retail handle, Twin River and Tiverton Casino took $6.4m and $3.6m in bets respectively.

Despite the downturn in handle, it was a good month for sportsbooks, who accumulated a combined revenue of $5m, over a fifth higher than December’s $4.1m and the highest since Rhode Island started its new financial year.

Online accounted for $3.8m of that figure, which is 76% of the total. By facility, Twin River outperformed the Tiverton Casino, generating $845,340 to the latter’s $402,750.

Rhode Island into H2 of its financial year

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Tag: Rhode Island