Rhode Island sportsbooks saw their lowest monthly handle of the year during April as fewer live sporting events thwarted punters’ sports wagering activity.
As reported by the Rhode Island Lottery, the state’s sportsbook’s total handle was $40.2m during April, down 12.2% from March’s handle of $45.8m. However, this still remained significantly above the $29m wagered by players in April of 2021, an increase of 38.6% year-on-year.
Breaking down the revenue by platform, the vast majority, $25.5m, was wagered via online and mobile sportsbooks during April, down 5.9% from March’s figure of $27.1m. Following player payouts but before commissions, operating or allocable expenses, online sportsbooks in Rhode Island generated $1.3m worth of revenue, down 27.8% from March and down from the $1.7m made in April 2021.
Online sportsbook wagers made up 63.4% of the total wagers made in the Ocean State, up from 59.2% in March 2021.
The rest of the monthly handle was seen via the Twin River and Tiverton Casinos. Twin River saw $9.9m in sports wagers in April, down from $12.6m in March but up from the $8.8m wagered one year ago. The establishment made $802,433 in revenues, down significantly from the $1.5m in revenues made in March,
Tiverton Casino saw $4.8m in wagers during April, down from $6.0m in March but up from the $4.1m in handle one year ago. Sportsbooks at Tiverton Casino made $548,010 in revenue, up from $396,030 made in March after more favorable results.
In total, Rhode Island’s sportsbooks made $2.6 in revenue during April, down 29.7% from March’s total of $3.7m and down 18.8% YoY.