- With there being no sports, sports betting across the world had taken a hit.
- Rhode Island sports betting took a 45% dip in Year-on-Year revenue in March.
- In-person registration for online sports betting in Rhode Island limits the amount of revenue that can be obtained from that channel.
PROVIDENCE, R.I. — With major sports in the United States being on hiatus, sports betting revenue across the country has seen a drop in numbers. Rhode Island has joined the list of states that has taken a hit in revenue due to the coronavirus.
Sports Betting Revenue
In the month of March alone, Rhode Island saw a 45.6% decrease in bets placed from year to year. They also saw a significant decrease in month to month handle as well from February to March. The total amount that was bet in February reached $23.138 million which fell 68.2% in March to $8.949 million.
The fall in the amount that was bet also caused a hit to the state’s revenue numbers. In the month of March, Rhode Island’s sports betting revenue took a 63.8% hit to reach just $841,767 while the month of February brought in $2.3 million.
The Twin River Casino in Tiverton took a significant decrease in revenue as they dropped 66.5% to a $1.4 million handle and dropped to just $184,610 in revenue which is a 54.8% decrease.
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Online sportsbooks, however, have been able to gain some activity as they have had some success from January to March. In January, Rhode Island’s online sports betting improved 25% to 30% in February and 34% in March.
These percentages are minuscule compared to those in bigger states like New Jersey where it is likely to see numbers at 90% of the handle's value. But it is a bit of a silver lining that Rhode Island can look to as other states such as New York don’t regulate mobile betting at all.
Once sports across the country are back up and running, Rhode Island can definitely expect their numbers to rise back to normal.
Samuel decided to get into writing 6 years ago when he first started his college career at Florida State University. After declaring a major in Editing, Writing and Media, Samuel had found his passion for writing. During his free time, he could be found writing about, watching or playing sports.
