Rhode Island Sports Betting Revenue Half What Was Projected

Written by :

Associated Press

Published on :

23 October, 2019

Rhode Island Sports Betting Revenue Half What Was Projected

PROVIDENCE, R.I. (AP) — The Rhode Island Lottery says sports betting revenue in the state is at less than half the projected numbers.

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The Providence Journal reports the Twin River sports book has made $3.1 million through Oct. 19, less than half the $6.9 million projected for the first quarter of the fiscal year.

The state gets 51% of the money from sports betting. Rhode Island's budget assumes $22.7 million in sports betting revenue for the fiscal year that ends next June.

The lottery reports that legal sports betting has been growing overall since it launched last November. The total amount bet in September was 75% higher than last December.

A separate Department of Revenue analysis that incorporates seasonal variations suggests sports betting profits are on target at least through the end of September.