Rhode Island’s sports betting generates over USD 1 M in state revenue in June
Rhode Island’s sports betting had its best month ever in June since this practice was legalized in November 2018.
Although June is typically a slow month for sports betting, bettors lost big, generating $2.1 million in profit for the house. Rhode Island takes 51% of the profits (after some fees are deducted;) the bookmaking and technology team of IGT-William Hill takes 32% and host Twin River gets 17%.
The $2.1 million in June sports betting profit closes the 2018-19 fiscal year at $6.9 million in total profit for the Rhode Island sportsbook, of which roughly $3.5 million goes to the state, the Providence Journal reports.
Although that’s well below the $23.5 million in state revenue that Gov. Gina Raimondo’s administration expected a year ago, or the $11.5 million estimated in January, it beat the $2.2 million that lawmakers included in their revised budget for last year passed in June.
The only full month with less wagered at Rhode Island’s sports betting operation was last December ($13.1 million), the first full month of operation.
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