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Sports Betting in Rhode Island Promising Despite Decreased Income in April

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ports Betting in Rhode Island Promising Despite Decreased Income in April
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Rhode Island’s income from sports betting dropped by 24.7% in April, totaling $3.2 million in state-earned revenue. In March, the industry had recorded an upsurge in betting activity thanks to March Madness. In turn, the state earned $3.9 million in the moth, a significant increase from the $1.5 million income total recorded in February.

While the revenue recorded from sports betting has been inconsistent this year, it shows a growth curve compared to the same period last year.

Increased Betting Handle

Sports punters in Rhode Island have been spending more at betting companies this year compared to last year. In January, the players wagered $39.8 million. This was a 74.6% surge compared to the amount wagered in December last year.

On the other hand, it was a 48% growth compared to the amount wagered in January last year. Interestingly, $21.9 million of the nearly $40M gambled in Rhode Island in January came from mobile betting.

In February, the betting handle decreased to $34.1 million. But this was still a 21.8% increase compared to the $28.1 million gambled in February 2020. In March, bettors swung back to action with the hopes of profiting from March Madness.

The result was that some $38.6 million was wagered in Rhode Island during the month. Online sports betting accounted for $16.1 million of the wagered amount. Compared to 2020, the betting handle in March was a 331.1% rise.

Rhode Island sports betting, and you can learn more from here, took a sharp drop in betting handle in April. The total wagered amount amounted to $29 million, which was a 24.7% decline. All the same, this was a growth of 4,811% compared to the same month in 2020.

Soaring Revenues

Along with climbing betting handle numbers, the revenues from sports betting in Rhode Island have also been climbing. The state earned $3.7 million from the industry in January—an increase of $400,000 compared to December.

More than half of the amount–$2.1 million—came from mobile betting while $1.6 million came from in-person betting companies. Unfortunately, this income fell by 33% in the following month to stand at $1.5 million.

February was such a poor month for the sports betting industry in Rhode Island that it didn’t match the figures collected the same month last year. Luckily, the industry bounced back in March.

Total income jumped from $1.5 million in February to $4 million, a surge of 155.6%. Compared to March last year, this was a growth rate of 372.4%. As we mentioned, revenues dropped by 20.3% in April to stand at $3.2 million. But it was a whopping 11,472% rise compared to the $27,000 collected by the state in April last year.

How to Join the Party

Sports betting has a bright future in Rhode Island. It might be experiencing inconsistencies in revenue and betting handles presently. But over time, especially post-pandemic days, Rhode Island could climb to become one of the biggest betting markets in the country.

That said, joining the sports betting party in Rhode Island is easy:

  • Choose a Betting Partner

There are two ways to bet on sports in Rhode Island. You can join the state’s official mobile betting website—it has a sportsbook supplied by William Hill and IGT. Or you could register an in-person account at the Twin River Casino n Lincoln or the Twin River Tiverton Casino.

Evidently, the variety of betting companies in Rhode Island is small. What’s more, the available betting operators are either controlled by the state or tribes. While this isn’t a bad thing, it reduces competition, which works efficiently in improving the quality of services offered.

All the same, pick an option. Over 50% of Rhode Island bettors prefer to use the betting app. It’s more convenient, safe and saves you from the hassle of leaving your house every time you want to place a bet.

  • Add Money to your Account

If you plan to bet at one of the two casinos that provide sports betting, you don’t really need to create an account. Instead, the only requirement is a form of identification and money to bet. The only time you could need an account is if you want to benefit from the casinos’ reward programs.

On the official Rhode Island app, you can deposit from $10 to $10,000 through a variety of payment methods like Visa, MasterCard and PayPal. With money in your account, you can wager on thousands of betting markets in the US and around the world.

You can bet on all the major leagues: NFL, NBA, MLB, NHL and the MLS. You could also bet on international sports leagues like the English Premier League Gamers Arenas. What’s more betting on college sports is allowed except where colleges based in RI are involved.

  • Do Your Research

Betting on sports is simple. You can pick a game and back one of two teams. But this doesn’t guarantee you will win. Winning in sports betting requires extensive research. You have to look at every team’s squad, stats, form and play styles.

Some people even pay for betting tips but this isn’t always recommended. Tipsters, the people who sell betting tips, do the same type of match analyses you can do to bet and win. So, if you have to use betting tips, do your research and compare with professionals.

  • Take Profits and Manage Risks

After you place a bet and win, you have the choice of betting again or taking profit. Most people prefer to take profit. However, there’s no harm in re-investing some of the money back, especially if your aim is to compound your profits.

All the same, have a risk-management program in place. You don’t want to spend more than you can afford. And you don’t want to lose all your profits. Create a budget to guide you on the amount of money to spend on every bet, every day.

If you exceed your daily or weekly budget, quit betting. Likewise, take profits after you have a goal. This way, you’ll enjoy sports betting more than if you kept wagering your money until you lost it.

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7-Eleven selects Jackpot.com as their official lottery partner

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Online Lottery Courier Service Jackpot.com Announces Exclusive Collaboration with 7-Eleven, Inc.

Jackpot.com will serve as the official lottery courier service of 7-Eleven, Inc., initially launching in Ohio and Massachusetts  

Jackpot.com – the online lottery courier service that allows consumers to purchase official state lottery tickets on their phone, tablet, or computer – announced today an exclusive collaboration with 7-Eleven Inc., the largest convenience store chain in the world, to serve as their official lottery courier service.

As part of the collaboration, 7-Eleven customers in Ohio and Massachusetts will be able to sign up and play lottery games and scratchers on the Jackpot.com app or website. The program will initially be launched in over 600 7-Eleven and Speedway stores in Ohio and Massachusetts, with a special launch promotion that gives 7-Eleven customers a free lottery ticket on their first deposit by using promo code, “7Eleven”.

“We’re thrilled to work with 7-Eleven, the leading retailer of lottery tickets in the country,” said Akshay Khanna, CEO and co-founder of Jackpot.com. “Leveraging our technology and innovation, we can provide additional convenience for their customers, while adding an additional source of revenue. A true win-win relationship for all.”

By launching in Ohio and Massachusetts in 2023 and 2024, respectively, Jackpot.com aims at adding another avenue for player convenience with one of the most widely recognized brands in the convenience-retailing space. With a presence in Ohio, the nation’s seventh-largest lottery market, and Massachusetts, whose state lottery produced $1.2 billion in net profit for the Commonwealth during the 2024 fiscal year, Jackpot.com’s collaboration with 7-Eleven represents an added layer of accessibility for players.

Jackpot.com remains committed to responsible play and has significantly invested in protocols by allowing customers of legal age to set spend limits and limits on daily deposits, all while providing access to local and national responsible gambling resources, self-exclusion, self-suspension and automated notifications that offer help should problematic behavior be detected. Jackpot.com is also the only lottery courier service to launch with an iCap certification from the National Council on Problem Gambling.

To learn more, visit jackpot.com. First-time users can also download the official Jackpot.com Lottery App on the iOS or Android App Stores, where available.

 

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eSports

The World Esports Summit 2024 Is Here!

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The IESF World Esports Summit returns this December to Busan, South Korea. Hosted at the Busan Esports Arena (BRENA) from December 5-6, the Summit will bring together prominent figures from Esports, global brands, government officials, and sports executives for a deep dive into the current Esports trends, its rapid transformations, and future challenges.

This year’s theme, “Building Bridges, Not Barriers, Through the Power of Esports,” will highlight the role of Esports in uniting cultures, ideas, and industries. Under the slogan “We Empower Success,” the

Summit provides a great platform for Esports experts to engage in meaningful discussions and sessions, sharing their insights on trends and presenting forward-looking ideas for our industry.

The event, strategically timed at the close of the competitive season, presents a perfect environment for reflection on the year’s biggest events, industry shifts, and the next steps for Esports. Attendees can follow the expert’s perspectives on topics like:

  • (R)Evolution in Esports
  • East Meets West
  • Esports Integrity: The Role of Referees
  • The Rise of International Esports Competitions
  • (In Korean) Korea’s Secret Sauce etc.

Also, featured at this year’s event are the IESF World Esports Training Camp and the World Esports Referee Academy.

These are very important IESF programs that are aimed at advancing the skills and professional standards of the next generation of Esports leaders.

Join us in Busan for two days designed to inspire, connect, and empower the international Esports community.

Registration for the World Esports Summit is free and open to all interested attendees.

To register, please complete our online registration form: iesf.formstack.com/forms/wes2024_participation_registration

See you in Busan!

 

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eSports

Akhil Sarin CMO at Easygo named as key note at ICE Esports Conference

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Clarion Gaming has confirmed that Akhil Sarin CMO at Easygo, the technology powerhouse behind the success of global brands Stake and Kick will headline the Esports & Games Conference (EGC) taking place on 21 January as part of the ICE Barcelona experience.

As a key member of the executive team, Akhil Sarin has been instrumental in securing the high-profile partnerships that have accelerated Stake’s growth, including the Stake F1 team, UFC, Drake, and Premier League Everton FC.

Through these strategic alliances he has amplified Stake’s brand presence at the same time as creating unique, immersive player experiences, in the process setting new industry benchmarks.

Announcing the high profile speaker Will Harding, Head of Esports at Clarion Gaming said: “Securing Akhil Sarin as EGC  key note at ICE Barcelona represents a remarkable opportunity for our attendees to gain invaluable insight into cutting-edge strategies in digital and influencer marketing .

“Akhil’s expertise with Stake and Kick.com embodies the forward-thinking, innovative approach that defines the digital marketing landscapes. His participation underscores the calibre of knowledge-sharing that we are  committed to delivering at ICE and he is sure to both inspire our attendees and elevate their strategic perspective.” 

Looking ahead to ICE Barcelona, Akhil Sarin stated:  “Collaborating with Clarion Gaming at ICE Barcelona is an exciting opportunity to showcase Stake’s journey and continued focus on bold partnerships and creative marketing strategies that resonate with audiences.”

He added “The EGC is a vital platform for exchanging transformative ideas and shaping the future of gaming and entertainment. I look forward to discussing Stake’s vision and collaborating with industry leaders to inspire growth and innovation across the sector.”

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