Rhode Island Hits Record Sports Betting Revenue in November 2024
Rhode Island’s sports betting market shattered records in November 2024, bringing in $6.3 million in revenue, a staggering 43.2% increase over the previous high of $4.4 million set in October 2022.
Betting Breakdown: November Highlights
In November, Rhode Island bettors wagered a total of $35.1 million, with $28.8 million in payouts to winners. The state saw nearly equal contributions from online and retail channels:
- $15.7 million was bet via mobile platforms.
- $19.4 million came from in-person wagers at retail sportsbooks.
This balanced split shows the unique relevance of physical betting locations, as mobile platforms dominate in other states.
Rhode Island’s Pioneering Role in Sports Betting
Rhode Island was an early adopter of legalized sports betting, launching its first legal wagers in November 2018 at Twin River Casino. Mobile betting followed a year later, further expanding the state’s market. Despite its leadership in the early days of sports wagering, Rhode Island has faced challenges competing with larger neighbors like Massachusetts and Connecticut, primarily due to its smaller population and market size.
While the November revenue spike is a cause for celebration, Rhode Island’s overall gambling revenue paints a more nuanced picture. The state’s Office of the Auditor General reported an $8.2 million decrease in overall gambling contributions to the state budget for the fiscal year ending June 30, 2024. This represents a 1.8% decline, highlighting the state’s reliance on broader economic factors and the competitive pressures of regional markets.
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