RI sports betting revenue reaches $18.7m in FY2020

29 July 2020

Rhode Island’s legal sports betting market generated $18.7m (£14.4m/€15.9m) in revenue during the state’s 2019-20 financial year, despite the final four months of the period being impacted by the novel coronavirus (Covid-19) pandemic.

Total revenue for the 12 months to June 30, 2020, was up 171.0% year-on-year, though the $6.9m recorded for the 2018-19 fiscal year only covered an eight-month period, with legal betting launching in November 2018.

Consumers wagered $200.2m on sports in FY2020, up 56.9% on last year, while player winnings also jumped from $120.7m to $181.5m.

Mobile betting revenue amounted to $3.8m, and as legal mobile wagering only launched in September 2019, there are no year-on-year comparable figures. Players wagered some $49.8m via mobile in FY2020.

Twin River’s Lincoln and Tiverton brick-and-mortar casinos are the only two retail locations approved to operate in Rhode Island, with the Lincoln site ending the year some way ahead of its sister casino.

Read the full story on iGB North America.