Rhode Island betting handle surpasses $500m in 2021-22
Consumers in Rhode Island spent more than $500m on sports betting during the 2021-22 financial year, while the US state’s betting revenue amounted to $39.7m.
Total handle for the 12 months through to the end of June 2022 was $517.2m, an increase of 46.5% from $353.0m in the previous financial year, according to figures published by the Rhode Island Lottery.
Some $290.5m was wagered via mobile during the year, while players also spent $226.8m at retail sportsbooks, split $164.9m across the Twin River casino and $61.9m at the Tiverton Casino.
Combined online and retail revenue for the year was up 9.7% from $36.2m in 2020-21 to $39.7m.
Online betting accounted for $122.1m of total revenue for the financial year, with $17.7m coming from retail. Twin River was responsible for $11.7m of all retail revenue and the Tiverton Casino $6.0m.
Meanwhile, the Rhode Island Lottery also published figures for the final month of the year, with handle for June climbing 29.1% year-on-year to $34.2m. However, this was 16.8% down from $41.1m in May and the lowest monthly figure since August 2021.
Of the total spent by players in June, $20.9m was wagered online and $13.3m in-person at retail sportsbooks, with the split at $8.9m for the Twin River casino and $4.4m the Tiverton Casino.
In terms of revenue, combined online and retail revenue for June was $2.4m, down 35.1% from $3.7m in June 2021m but marginally higher than $2.3m in May this year.
Online revenue for the month reached $1.7m, while $340,132 in revenue from Twin River and $279,211 from Tiverton Casino resulted in $619,343 in retail revenue.