Sports betting revenue declines in Rhode Island
Rhode Island has released its legal sports betting revenue results, which points to a decline in revenues for the first time. The loss is attributed to higher player winnings offsetting an increase in sportsbook handle.
The difference between the handle and the win rate is what has made the state report a revenue loss in February. Players wagered US$20.7 million on sports in February 2019, which is US$1.6 million higher than what they had wagered in January, when the state registered US$19.1 million in handle. However, consumers also enjoyed a higher win rate and registered US$21.6 million in winnings.
Twin River Lincoln accepted US$16.6 million in wagers during February operations, but with a win rate of US$17.6 million it made the facility make a loss of US$908k. On the other hand, Twin River Tiverton registered US$4.03 million in sports wagers and customers won US$4.02 million, therefore the facility posted revenue of US$17.6k.