Rhode Island Sportsbooks Set Monthly Revenue Record
Rhode Island was one of the first states to legalize sports betting after PASPA was struck down by the Supreme Court. It’s proving to be a successful industry for the small state. Rhode Island sportsbooks set a new record in June.
It’s great news for gambling operators here. Now is the perfect time to look at how much sports betting revenue has increased. We’ll also look into some of the other gambling options available in Rhode Island.
Rhode Island’s Road to Legalizing Sports Betting
There’s always been a huge sporting fan base in Rhode Island. This small state, located in New England, is home to just over a million people, many of whom love to place wagers on their favorite sports. Unfortunately, lawmakers here had no legal way to legalize sports betting until recently.
In May of 2018, the US Supreme Court struck down PASPA. It immediately gave states the right to regulate and legalize sports gambling. Governor Gina Raimondo signed sports betting legislation into the state’s 2018 budget.
The Twin Rivers Casino in Lincoln was the first casino to offer legal sports betting odds. Under the current set of laws, only one other gambling venue is allowed to offer sports betting. Before long, the Tiverton Casino began offering sports wagers as well. Online and mobile sports betting is now available here, too!
Rhode Island is never going to compete with states like New Jersey and Pennsylvania when it comes to sports betting revenue. But that doesn’t mean this state’s sports betting industry isn’t profitable.
Rhode Island Sportsbooks Bring Huge Revenue Earnings in June
It’s clear that this state’s legal sports betting operations are popular with local residents. According to new reports, Rhode Island sportsbooks have brought in more revenue during June than ever before.
The two sportsbooks operating here earned $2.15 million in revenue. It’s the most that this state has ever earned from this industry. It also represents a massive 139% month-on-month increase from May.
Previously, the most that Rhode Island earned from its sports betting operations was $1.97 million. This was just two months ago. If the current trend continues, revenue from the sports gambling industry will increase for the rest of the year.
Twin Rivers Casino is proving to be the more successful casino here. The casino’s sports betting revenue increased from $575,000 in May to $1.7 million in June. Tiverton also recorded a 37% increase month-on-month.
More Gambling Options Available in Rhode Island
Rhode Island is home to a number of popular land-based casinos. In recent years, online casino gambling has also grown extremely popular here. This state has not yet regulated this industry, yet many great online casinos in the US are still available.
Most of these websites offer quick, safe payment options to their members. Competition is very high in this industry. Any casino sites here caught withholding payments from members are quickly blacklisted.
Online casino sites also tend to provide more gambling options than the state’s top land-based casinos! Some focus on slot gambling, while others offer a range of popular table games. Live dealer games are also growing in popularity.
Several states have already legalized online casino gambling. It’s very likely that, in the near future, Rhode Island will do the same. Fortunately, many amazing online casinos are still available here for players.
Are you surprised to see Rhode Island sportsbooks performing so well? Should this state begin to allow more casino websites to operate? Let us know what you think in the comment section below!
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