- Rhode Island saw a 10.9% increase in betting activity month-over-month in October.
- Total sports betting revenue reached $4.4 million.
- Mobile betting was responsible for the bulk of the sports betting activity in the state.
PROVIDENCE, R.I. – Rhode Island has seen a major boom in sports betting in October and the bulk of the betting activity came from online and mobile sportsbooks.
The official revenue report revealed that there was a significant increase month over month in sports betting. The Ocean State saw increased activity at all the major sportsbooks.
The sports betting market in Rhode Island has continued to rebuild following early shutdowns in the year caused by COVID-19. Mobile sports betting in Rhode Island has grown to be the main catalyst for the thriving market.
Sports Betting Revenue Grows
In total, October saw $34.7 million in sports betting handle in Rhode Island, up 10.9% from September. The handle is also up 22.6% from the $23.3 million the Ocean State took in this time last year.
The official revenue report shows that the total sportsbook revenue was $4.4 million. This is an 83.3% increase from the $2.4 million taken in September and 76% more than the $2.5 million taken this time last year.
With the state taking 50% of net revenue per the regulation agreement, that means Rhode Island saw over $2.1 million in sports betting tax revenue.
The real success that Rhode Island saw, however, is the boom in mobile and online sports betting. Nearly $2 million of the total revenue came from mobile sportsbooks. This is up 133.6% from the $856,000 in September.
This is the highest increase in revenue figures month on month since mobile betting launched in 2019. In fact, the most betting activity came from online and mobile betting.
Over $15.3 million was wagered on sports in Rhode Island through mobile betting. This is more than the $14 million wagered at the Twin River Sportsbook and the $2.2 million that was wagered at the Tiverton Casino sportsbook.
With the COVID-19 pandemic still running rampant, it makes sense that sports bettors will be leaning in favor of betting on sports through mobile apps instead of traveling to physical sportsbooks.
The mobile betting market has been a major success for many legal sports betting markets in the country. Rhode Island is only expected to continue to see growth in the mobile betting arena.
Coming from a background in narrative-based writing, Giovanni strives to write stories that will keep the reader engaged. Although he does pride himself in being accurate, how the story is told is also very important to him. When he’s not keeping readers up to date on sports betting laws and legislation, you can find him writing and recording music, playing videogames, or engaged in heated sports debates with his friends.