Rhode Island sports betting sales plunge 42% in February
Last updated
Last updated
Rhode Island reported February sports betting revenue of $2.9 million (2.3 million pounds/€2.7 million), significantly lower than January's cumulative revenue of $5 million. February revenue was also down 19.4% compared with the same month last year, when Ocean State piled in $3.6 million.
The state's February handles also fell 13.4%, to $38.8 million from $44.8 million in January. In addition, handles in Rhode Island were down from a year earlier, with those in February down a total of 10% from $43.1 million a year earlier.
Online continues to pay the most interest, processing 78.4 percent of the total, or $30.4 million. Online operators paid a $30 million jackpot.
Of the $8.4 million in bets received by retailers, Twin Rivers led the way with $6 million, while Tiverton Casino received $2.4 million in bets. Despite the wide gap in handling, Tiverton Casino actually accumulated more revenue, earning $288,000 for Twin Rivers' $206,000.
The Rhode Island State Sportsbook earned $35.9 million in handling and $26.7 million in revenue over the eight-month period, a total of 18.6% and 30.1% lower, respectively, compared with the same period in the state's 2022 fiscal year.