- Rhode Island sports betting saw a decrease in wagers for the month of April.
- Total handle on sporting events for April in Rhode Island came in at a little over $29 million.
- March Madness action looks to be the main factor in the decline in sports betting action month-over-month for the Ocean State.
PROVIDENCE, R.I. – Last week, the Rhode Island Lottery (RIL) reported a sizable drop in sports wagering activity across sportsbooks statewide for the month of April. Month-over-month, there was a 24.7% decline in bets placed.
April took in $29 million in combined handle from their retail and mobile sportsbooks for the Ocean State.
The Number Breakdown
According to the financial reports released by the RIL, one of the main reasons for the decline in April sports betting when compared to March is March Madness. A number of bets were placed on the college basketball tournament that was held in March for a total handle of $38.584 million. Without those games, April was lacking in that area for incoming wagers.
Mobile sports betting was down 24.1%, bringing in $16.102 million in bets. Again, more action was seen on mobile platforms in March because of the college basketball championship that happens once a year. March had $21.210 million in wagers with mobile sportsbooks.
However, a year-over-year comparison is a different story as the Coronavirus Pandemic ceased most sporting events, seeing April 2020’s $591,377 handle skyrocket 4,811% in April 2021 to $29.041 million. A major uptick of 2,633% in year-over-year mobile activity from April 2020 can be seen with $589,260 in wagers placed last year to the $16.102 million of mobile bets for April 2021 was also recorded.
As far as Rhode Island’s revenue is concerned, month-over-month saw a dip while year-over-year saw a major increase. Revenue from sports betting was down 20.3% from March to April. March took in $3.976 million for the industry, while April saw $3.169 million. But, a 11,472% surge from April 2020 was seen as this time last year, the sports gaming market brought in a paltry $27,381 in revenue for the month.
What’s Next For Rhode Island Sports Betting
Regulated sports betting in Rhode Island expected to see a lull in wagers for April, as many sportsbooks did across the nation. It’s the time of year when all the action of football and college basketball winds down and betting on those sports is part of that package, winding down itself. The market will see a rise in action in the coming months with the NBA playoffs being played and having MLB games in full swing, literally.
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.