In July 2022, the total amount spent on sports betting in Rhode Island was $19.8 million, which is 19.8% lower than the previous month and 14.8% lower than June of this year. This was the lowest monthly spend since July 2020 when players bet $6.7 million.
Out of the total monthly spend, $15.4 million was attributed to online betting, while $4.9 million was wagered at retail sportsbooks within Twin River and Tiverton Casino ($3.0 million and $1.9 million, respectively).
In terms of revenue, Rhode Island generated $1.9 million in July. This was 34.5% lower than the revenue generated in 2022 but slightly higher than the revenue in June ($1.8 million). Out of this total, $1.5 million came from online betting, and $293,397 came from retail sportsbooks.
Twin River generated $298,879 in betting revenue, but Tiverton Casino posted a loss of $5,482, bringing the total slightly down.
The confirmation of the July figures comes after Rhode Island legalized igaming. Governor Dan McKee signed Senate Bill 948 into law on June 22, allowing Bally’s land-based casino monopoly to extend into igaming. Bally’s online arm, Gamesys, becomes the sole operator in Rhode Island with brands like Virgin Casino, Tropicana Casino, and Rainbow Riches Casino.
Rhode Island imposes a 50% tax on online slot revenue, with the remainder divided between Bally’s and IGT. Table games are subject to an 18% revenue tax.
Mobile sports betting in Rhode Island is limited to individuals aged 21 years and older, following the state’s land-based laws. The Rhode Island Division of the Lottery oversees online gaming regulation and the two Bally’s casinos in the state.
Geolocation technology will be used to ensure players are physically located within the state. However, the law allows for out-of-state betting in certain circumstances when the RI Division of the Lottery enters into a reciprocal agreement with another state regulator.
