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Rhode Island reports 372.4% revenue boost in March
The Rhode Island Lottery has revealed a massive skyrocketing of 372.4% in its year-on-year sports betting revenue during the month of March.
Revenue during the month of March came up to $4 million, which is an impressive increase from the $841,767 reported during March of 2020. This increase is mainly due to the improvement of the COVID-19 situation in the US this year as opposed to the beginning of the pandemic during March of last year.
The state’s retail sportsbooks and betting shops had to be shut down during March of last year, which was the case in all states, and meant that players had to rely on mobile betting. This was also an issue however since sports events were also cancelled due to COVID-19 and meant that there were not really many betting options left.
During the month of March, the Tiverton Casino and the Twin River retail sportsbooks accounted for $2.1 million in revenue, which is a 235.5% increase from last year. Revenue from mobile also rose by 766.9%, up from $215,802 to $1.9 million.
Out of the two aforementioned casinos, Twin River had the better performance with its revenue at $1.5 million, a 233.5% increase. The casino’s handle also increased by 184.4% up to $12.8 million. The Tiverton Casino revenue amounted to $633,390 (up by 243.1%) with its handle rising up to $4.6 million.
Mobile was still the most popular way of betting, as it raked in $21.2 million in bets, an impressive 583.9% increase from the $3.1 million recorded during the same time last year.
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