- Combined sports betting revenue in Rhode Island is down 98.6% since this time last year.
- New innovations in Sportsbook Rhode Island, the mobile betting application and retail sportsbooks opening June 8 hope to see higher monthly numbers in the future.
PROVIDENCE, R.I. – The Coronavirus pandemic has caused sports betting revenue in Rhode Island to drop to drastically low levels.
Land-based sportsbooks in the towns of Lincoln and Tiverton have taken in only $591,377 in bets which equates to a dip of 96.5% in business when compared to last year’s numbers at this time.
The outbreak caused the shutdown of facilities, including these two Twin River casinos in order to prevent the spread of the virus and most sporting events themselves have been suspended since March.
The Rhode Island Sports Betting Market Decline
Not only have retail locations taken a huge loss because of the COVID-19 outbreak, but the mobile sports betting handle in the Ocean State has also sustained losses.
While mobile applications were non-existent this time last year, there are no numbers to compare them too. However, the March revenue was $215,802 whereas April saw a much smaller revenue of $27,202.
That is an 86.9% decline in business.
The Twin River land-based establishments when combined with the mobile sports betting revenue for April saw a combined total of $27,381, making for a whopping 98.6% loss when compared to profits from April of last year.
What Is Next?
Both local sportsbooks in Rhode Island as well as their mobile sports betting applications are gearing up for better times ahead.
The sports betting venues are looking at a June 8 reopening of their facilities.
The reopening will begin in phases, starting with an invitation-only start. Loyal members and high rollers will receive invitations that allow them to bring one guest.
The full openings of these establishments should begin soon after that.
Professional sporting events are slated to resume slowly and sportsbooks are hoping for big returns when the NFL season begins on the schedule this September.
Sportsbook Rhode Island is the online and mobile sports betting platform in the state that is operated by William Hill US and IGT.
In preparation for the comeback of sports, the companies have chosen to take the time to make the application that much better for local sports bettors in an effort to encourage more residents to join.
“Recent IGT PlaySports technology updates for the Rhode Island Lottery provide Sportsbook Rhode Island users an elevated player experience,” said Enrico Drago, IGT PlayDigital SVP. “These updates also position the Rhode Island Lottery for success when professional sports return in full force.”
It is the hope that once “the new normal” is implemented in the Ocean State and sports is back for bettors to wager on, revenue will come back full force.
The new application improvements include more bets, more ways to deposit and withdraw funds, and a more impressive, streamlined way for gamblers to bet on events.
The only thing holding Rhode Island back from upping their revenue numbers is the holdup on sports matchups and the closed retail sportsbooks.
Operators are coming up with new ways to make up for lost business to stay afloat.
“We are excited to continue to innovate with the Rhode Island Lottery and IGT. We are adding alternative sports and additional prop bets to our wagering menu now and look forward to supporting Rhode Island even more when sports return to the U.S.,” said Ken Fuchs, William Hill US President of Digital.
Come June 8 and Summer 2020, the Ocean State should expect to see drastic changes in their revenue reports for sports betting.
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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.