With Massachusetts joining the sports betting ranks, Rhode Island again experienced lower gambling numbers in May.
For the month, customers bet $30.8 million on sports, down 25.1% from May 2022. In addition, sports betting handle was 17.9% less than the $37.5 million in April.
It doesn’t help that the only professional sport currently in season is Major League Baseball (MLB). To further complicate things, Massachusetts sports betting is clicking on all cylinders.
According to figures from the Rhode Island Lottery, the $30.75 million in handle translated to almost $4 million in revenue. For Fiscal Year 2023, sportsbooks are nearing $50 million in sports betting revenue and $486 million in betting handle.
