Gambling in the USA

Sports betting revenue declines in Rhode Island

Published

6 years ago

April 8, 2019

Niji Narayan

Sports betting revenue declines in Rhode Island

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Rhode Island has released its legal sports betting revenue results, which points to a decline in revenues for the first time. The loss is attributed to higher player winnings offsetting an increase in sportsbook handle.

The difference between the handle and the win rate is what has made the state report a revenue loss in February. Players wagered US$20.7 million on sports in February 2019, which is US$1.6 million higher than what they had wagered in January, when the state registered US$19.1 million in handle. However, consumers also enjoyed a higher win rate and registered US$21.6 million in winnings.

Twin River Lincoln accepted US$16.6 million in wagers during February operations, but with a win rate of US$17.6 million it made the facility make a loss of US$908k. On the other hand, Twin River Tiverton registered US$4.03 million in sports wagers and customers won US$4.02 million, therefore the facility posted revenue of US$17.6k.

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.