- Rhode Island has set a new state record for sports wagering revenue in the month of November the Rhode Island Lottery reports.
- The Ocean State collected $6.3 million in revenue, a $1.9 million increase from their October 2020 revenue numbers.
PROVIDENCE, R.I. – Rhode Island is continuing their trend of making new records in sports betting revenue with each new monthly report as November’s findings have revealed a new record made for the Ocean State.
Sports bettors in Rhode Island brought up the revenue totals by 43.2% from October’s record of $4.4 million.
While providing an overall increase in activity and profits gained by the state, gamblers still managed to win $28.8 million on the variety of sporting events they wagered on with their lone Rhode Island sportsbook.
The November Breakdown
For both retail and mobile sportsbooks, the combined handle for R.I. came in at $35.1 million according to reports that were provided by the Rhode Island Lottery.
From a year-over-year viewpoint, that’s an uptick of 11.4% from November 2019 for the amount of gambling engagement that took place. With the over $35 million in bets collected for the month, the lion’s share of betting was done at one of the two Twin River casinos statewide with locations in Lincoln and Tiverton.
These sports betting establishments brought in a total of $19.4 million in handle equaling a revenue of $3.7 million in November. Mobile sportsbooks in the state recorded $15.7 million in wagers with $2.6 million coming in on the revenue front.
For the year-over-year revenue comparison, November 2019 brought in $2.7 million in total revenue which shows a surge of 133.3% with November 2020’s final sum of $6.3 million in the books.
Will Rhode Island Sportsbook Revenues Continue Trending Up?
The Ocean State has proved that their sports wagering activities continue to reach new heights with each passing month, seeing the beginning of their continued upswing during the summer months.
Gamblers were given the opportunity to register for mobile sportsbooks remotely as the stipulation within the state’s sports betting law was lifted through the signing of new legislation in the forms of House Bill 8097 and Senate Bill 2919.
Since that time, Rhode Island’s sports gambling market has reported steady growth in members at sportsbooks, handle, and revenue.
The legal factor, coupled with the casinos operating after the shutdowns that took place from the outbreak of COVID-19, can each be attributed to the rise in sports betting for Rhode Islanders.
Professional sports also resumed playing around this same time, leading to a number of wager opportunities listed on sportsbooks for fans of the games.
As the NBA started their new season in December and both the NFL and college football coming to a close, December will likely break the records made in November for Rhode Island’s sports betting industry when the final tallies are in.
Christina has been writing for as long as she can remember and does dedicated research on the newly regulated sports betting market. She comes from a family of sports lovers that engage in friendly bets from time to time. During the winter months, you can find Christina baking cookies and beating the entire staff at Mario Kart…the N64 version of course.