Rhode Island’s sports betting handle experienced a significant spike in September. The state’s latest data reveals an impressive total of $37.6 million in wagers placed.
This September surge in betting activity signifies a substantial 67.1% increase compared to August, which saw players wager $22.5 million. The rise has been related to the kickoff of a new NFL season in early September.
However, while demonstrating remarkable growth, this year’s September figure is 9.8% lower when compared to the same month in the previous year, which saw a sports betting handle of $41.7 million.
September 2023 handle marks a significant turnover for Rhode Island’s sports betting scene as it records the highest monthly wagering activity the state has seen in the past six months. To put this into perspective, the total money generated is 67.1% more than August 2023, which had a handle of $22.5 million.
The last time the state accumulated such a significant sum was in March, with $41.5 million worth of bets placed. Although February boasted a handle of $43.1 million, making it 3.7% higher than March, the peak of sports betting activity was witnessed at the beginning of the year.
Bettors in the Ocean State collectively wagered $62.3 million in January 2023. This impressive figure has yet to be equaled or surpassed in the following months.
Year-to-date statistics reveal a total handle of $80.4 million for the three months ending in August. Online wagers accounted for $61.8 million, while retail bets amounted to $18.6 million.
Rhode Island September Sports Betting Revenue Suffers 45.3% YoY Decline
Most of September’s sports betting handle, $28.7 million, was attributed to online betting, while retail sportsbooks contributed $9 million. Among the two physical sports betting locations, Twin River attracted the highest betting activity ($5.7 million), while Tiverton Casino recorded $3.2 million in bets placed.
Despite a significant 150% increase in revenue compared to August, September’s year-over-year earnings were still 43.3% lower than September 2022, which amounted to $6.4 million.
August’s revenue stood at $1.4 million, while September notably increased to $3.5 million. Of the $3.5 million, online betting contributed approximately 80%, totaling $2.8 million. Retail sportsbooks, on the other hand, generated a combined revenue of $663,548, with Twin River accounting for $441,485 and Tiverton Casino contributing $222,053 to that total.
Players accumulated $34.2 million in winnings from sports betting in September. Of this amount, $25.9 million can be attributed to online bettors, while retail bettors at Twin River and Tiverton Casino secured $5.3 million and $3 million in winnings, respectively.
During the year-to-date period, Rhode Island sports betting revenue reached $28.2 million, with $20.9 million earned from online betting and $7.3 million from retail betting.