Rhode Island Sportsbook Industry Rebounds in June

The Rhode Island sportsbook industry rebounds in June with higher month-on-month handle and revenue. Incidentally, this is a great way to end their fiscal year for 2020-2021. Many in the gambling software industry report an improvement in numbers this June, and Rhode Island’s sportsbooks are included. Let’s look at Rhode Island’s numbers for the month.

The total sports betting handle for the state is $29.46 million for June. The handle is 4.3% higher than the May handle of $28.25 million. Its online sports betting handle is also indicative of how great the software sportsbook market is doing. The handle for online sports betting is at $14.63 million, 0.1% higher that the May handle of $14.62 million. Mobile or online sports betting takes up a little more than half of the total handle.

Rhode Island Sportsbook Industry in June

Meanwhile, the sports betting revenue for June is $3.66 million. This is 32.2% higher than May’s revenue of around $2.8 million. Since June wraps up the fiscal year, we now also have the numbers for the whole year. The total sports betting handle for the fiscal year 2020-2021 is $352,995,096. This is a whopping 76.3% higher than the 2019-2020 fiscal year of $200,188,405. Meanwhile, the total registered revenue for the fiscal year is $36.18 million, giving us 93.4% more revenue than the fiscal year 2019-2020 revenue of $18.7 million.

For those who want to have a successful sportsbook, the increase in handle in June is a good indicator of a healthy sports betting market. Many states in the US have similar growth in handle and revenue. With the football season starting soon, the numbers are expected to grow even more. Rhode Island’s highest monthly handle was back in January with $39.8 million, so the chances of the state getting higher numbers is definitely possible.

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