Rhode Island sports betting revenue rockets 372.4% YoY in March
The Rhode Island Lottery reported a 372.4% year-on-year increase in sports betting revenue in March, while the state also saw its handle hike 333.7%.
Revenue for the month amounted to $4.0m (£2.9m/€3.3m), up from $841,767 in the same month last year, with this rise primarily down to the improving situation regarding novel coronavirus (Covid-19) compared to March 2020.
As in all other US states, Rhode Island’s retail sportsbooks were forced to temporarily close half-way through March 2020, meaning players could only bet via mobile. Wagering options were also limited due to sports events being cancelled or postponed as a result of Covid-19.
This year, retail sportsbooks at the Tiverton Casino and Twin River accounted for $2.1m in revenue, up 235.5% from $625,965 in March 2020. Mobile revenue also rocketed 766.9% from $215,802 to $1.9m.