$37.5M April Rhode Island Betting Handle Down 6.7% From Last Year, But Revenue Up 25%

The Rhode Island sports betting numbers for April 2023 show a slight decrease from the previous year as $37.5 million was wagered throughout the month compared to $40.2 million in 2022. This number also represented a 9.6% drop from March 2023, although revenue did see a major 25% increase. The March 10, 2023 launch of Massachusetts sports betting was a major factor in this decrease, as bettors would no longer need to travel to Rhode Island to place bets.

April Rhode Island Sports Betting Numbers Decrease Year Over Year

The Rhode Island sports betting handle for April shows a decrease not just month over month, but year over year. According to iGaming Business, the month saw a total handle of $37.5 million, with the majority ($27.5 million) placed with online sportsbooks. Retail sportsbooks at Bally’s Tiverton Casino ($4.2 million) and Bally’s Twin River Casino ($5.8 million) brought in the remaining $10 million.

April 2022, on the other hand, saw a total handle of $40.2 million, representing a 6.7% decrease from year to year. Plus, March 2023 brought in $41.5 million, meaning there was a 9.6% drop in April betting.

However, revenue from sports betting was overall up year-to-year. While Rhode Island saw $2.4 million in revenue for April of 2022, this past month brought in $3 million, marking a 25% increase. The revenue numbers were down from March 2023, though, which saw a total of $4 million.

Massachusetts Sports Betting Launch Likely Caused Drop

The month-to-month drop in numbers from March to April are pretty simple to explain due to April containing less major sporting action as March Madness comes to a close. Although the month has the MLB season plus the start of the NHL and NBA postseasons, the lack of a major event like March Madness generally causes a drop in betting handle from month to month.

However, when it comes to the year-over-year drop, the launch of Massachusetts sports betting is the more likely explanation. The Bay State rolled out its mobile sports betting market on March 10th, 2023, bringing some of the most popular platforms to bettors in the state. This launch meant that sports bettors in the state that would previously need to cross state lines to neighboring Rhode Island to place wagers could now easily wager from their own smartphones.

Rhode Island Sports Betting By The Numbers

The Ocean State launched is sports betting market in Novemer of 2018, not long after the overturning of the Professional and Amateur Sports Protection Act (PASPA). The state has two retail sports betting locations as well as a single mobile sportsbook from the Rhode Island lottery. The betting numbers began to increase over time after launch, especially once the online betting app Sportsbook Rhode Island was introduced in September of 2019.

This can be seen when comparing December of 2018 ($13 million handle) to December of 2019 ($31 million handle). Other sports betting platforms such as BetMGM Sportsbook, FanDuel Sportsbook, Caesars Sportsbook, and DraftKings Sportsbook are still unavailable in the area. The lifetime sports betting handle for the state of Rhode Island is currently $1.6 billion.