Rhode Island Sports Betting Beats Record: $39.8m Wagered in January

Rhode Island January Numbers

Rhode Island 1Rhode Island sports betting reached new heights in the month of January, almost passing the $40 million wager mark, finishing at exactly $39.8 million wagered. These numbers were supplied by IGB.

This sports betting handle represents a massive increase from January 2020, seeing a 12.7% increase, as well as a massive increase from the $22.8 million wagered in December of 2020. It seems like whatever caused the dip between November and December has been fixed, and bettors are back on track breaking records with the amount being wagered.

The total revenue collected from those wagers was $3.7 million, up from $3.3 million last year in January and the $2.5 million collected in December of 2020. This was a great month for Rhode Island when it comes to numbers.

Finally, mobile wagering accounted for a majority of the revenue at $2.1 million, and sports betting handle at $21.9 million. However, the Tiverton Casino and Twin River Casino had some of their best months with a sports handle of $17.9 million and revenue of $1.6 million.

What Caused the Increase?

It is unclear why Rhode Island saw a massive dip in revenue in December. However, January’s numbers picked up right where November left off. A big part of the revenue was casino gambling, so it simply might be that more players felt comfortable going to casinos in January.

A huge event like the Super Bowl obviously helped as well. With the NBA in full swing, the NFL playoffs being played out, and Super Bowl wagers being collected, it is no wonder why January could be seen as the most profitable month for sportsbooks across the country.

February might be another month that sees a decrease in handle due to the fact that the NFL season is over. Right now, the only major American sports being played are the NBA and the NHL, both of which are also seeing some cancellations due to Covid.

Who Runs the Rhode Island Sports Betting Scene?

william hill small mobileCurrently, there are only three places to gamble. The first two are in-person at either the Twin River Casino or Twin River Tiverton Casino. The third is using William Hill, which powers the Rhode Island Lottery Sports Betting platform on the IGT platform. These three are the only way to wager on sports and account for the entire handle in January.

It was surprising to see so many in-person bets in January with how bad the Covid numbers got in Rhode Island. However, the wagering itself may be part of the reason that the numbers were so bad. It could be the fact that bettors and people felt more comfortable going out, which led to the spike.

However, in Rhode Island, bettors do not need to register in-person and can bet online using William Hill and the Lottery without ever leaving their homes. This most likely will continue to account for the majority of wagers in the state, and is it simply so much more convenient.

Matthew is a UC Berkeley economic and philosophy graduate. He has played DFS, Football pools, and survival leagues for most of his adult life. Matthew brings to the table great strategies for both your GPP and Cash plays as well as a winning track record with his picks of the week.

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