Rhode Island Sees $6.3 Million in November Revenue Breaking State Record
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On Monday, the Rhode Island Lottery reported that the state hit a record revenue number for November. The Ocean State saw $6.3 million in revenue, breaking October’s $4.4 million in revenue for the month. The state also saw more activity in November, which boosted the state’s sports betting industry.
The state is also benefitting from Connecticut and Massachusetts being slow to the punch with legalizing sports betting. Both states are looking to pass a bill but have struggled to get anything through into law. Rhode Island might not benefit much longer as Massachusetts and Connecticut could have something passed in 2021.
For now, Rhode Island will still benefit and could see more record numbers over the upcoming months, with the NBA back in action along with the NFL playoffs and the Super Bowl being a popular time for bettors to get their action in.
Rhode Island by the Numbers
In November, Rhode Island saw $35 million in bets for the month and a record $6.3 million handle. All the numbers were released by the Rhode Island Lottery and can be read here. Rhode Island’s betting handle also hit a record high in November, beating the $34.7 million handle.
The biggest factor with the jump in numbers was the Ocean State legalizing mobile sports betting in 2020. Online wagering is also becoming more popular among Rhode Island people, seeing the most betting activity at a $15.6 million betting handle. This also broke October’s record.
The Ocean State will need to rely on mobile betting during the winter months as COVID-19 shutdown casinos temporarily at the end of November and into December. Although it wasn’t as big of an issue in November, the state could feel the impact in the final month of 2020 when that report is released.
The Tiverton Casino saw a slight dip in its sports betting handle from October to November, and could be a partial reason for closing a few days early. Both the Tiverton Casino and Twin River Casino were closed until December 21. Unless mobile wagering saw a big increase in December, the state will most likely see a reduction in its betting handle and revenue in December.
Rhode Island Moving Forward
Although the state could see a decrease into December with both casinos, 2021 should have a bounce back. This depends on how much mobile betting activity will be seen, but the state could see another record high in January with playoff football and the NBA.
Mobile betting is normally more convenient for bettors already. The state will continue to see betting money come in from Massachusetts and Connecticut as it is the most convenient state to drive to place bets. A lot of this is still up in the air as it most likely will not be until the end of January or early February until we see a December report.
For now, Rhode Island will look to attract more bettors to online wagering out of the possibility that casinos close again due to COVID. 2021 should be another good year for Rhode Island as long as Connecticut and Massachusetts cannot figure out betting laws for their states.
