PROVIDENCE – Sports bettors in Rhode Island had a rough September, losing a collective $2.5 million, marking the largest sports book revenue in the state since its launch in late November 2018.
September saw Rhode Island bettors wager $22.2 million on sports for the month and win back $19.7 million.
While the $2.5 million sports book revenue set a record in September, the month does not boast largest amount wagered to date, as that record still belongs to March 2018, when $23.6 million was wagered on sports.
September was the first month to include mobile betting, with mobile sport bettors wagering $3.3 million and winning $2.8 million, meaning sport book revenue from mobile bettors was $512,740 for the month.
Bettors at Twin River Casino Hotel placed the bulk of sports bets for the month, wagering $15.3 million and winning back $13.8 million, meaning sports book revenue from the casino was $1.6 million.
Bettors at Tiverton Casino Hotel wagered $3.6 million, winning $3.1 million, resulting in a sports book revenue of $438,790.
A majority, 51%, of sports book revenue goes to the state, following the subtraction of commissions and operating expenses. The remainder is split between International Game Technology PLC, Twin River Worldwide Holdings Inc. and William Hill.
In the first three months of fiscal 2020, sports book revenue has totaled $4.2 million, with $40.6 million wagered and $36.4 million paid out. In the just over seven months of fiscal year 2019 that sport betting was in operation, sports book revenue was $6.9 million, with $127.6 million wagered and $120.7 million paid out.
Chris Bergenheim is the PBN web editor. You may reach him at Bergenheim@PBN.com.
