Rhode Island Sports Betting Report: Bettors Win More

Reports on the gambling activity of states in the US for the month of February are coming in. Most of these states are showing growth in betting handle. This is especially true for states that offer online wagering. Pay Per Head providers are also seeing growth in a lot of their bookies’ sportsbooks. And as we look at the latest Rhode Island sports betting report, we see a rise in handle. However, revenue for February dips.

Of course, their numbers, despite the dip in revenue, is still marginally better than that of last year’s. Conversely, mobile betting did better this month compared to January’s numbers. Apparently, bettors won more than the sportsbook did, causing less revenue for the local industry.

Rhode Island Sports Betting Report for February

A lot of gambling directory sites will give you resources on where to go for online betting- retail and online. All of them, of course, aim to maintain profit through the vig, but having more losing bets boosts their revenue streams pretty well. The Rhode Island sportsbook is not that lucky though. For those that do not remember, Rhode Island lost almost a million dollars because a of the Patriots covering the Rams in Super Bowl 53. The numbers were not so dramatic this year, and the local industry records a $2.3 million revenue for February.

Revenue is actually 30% lower than that of January 2020, which is at $3.3 million. But the handle, or the amount wagered by players increased by $4.5 million to $28.1 million. This is actually a 35.7% growth if we compare the data from February 2019 and February 2020. Mobile wagering handle increased by 9%, at $8.5 million. However, its revenue is down by a jaw-dropping 47.3% from January. This is the lowest the state has seen since its launch back in September 2019.

Of course, online wagering in Rhode Island remains an issue. Unlike the best discount pay per head providers, local sportsbooks require physical registration. Not only that, but they also have only 1 betting option which cuts out healthy competition. This leaves players with a subpar experience, which makes it more worthwhile for them to explore gambling options elsewhere.