Rhode Island has surpassed $1 billion in sports bets, netting books $105 million over four years

Rhode Islanders (and the outsiders who use [its] sportsbook) have wagered more than $1 billion since the state started taking sports bets nearly four years ago, and let’s just say the house is winning at a higher-than-average clip.

The Bally’s casinos and the online sportsbook have had a hold rate – the amount of money they keep compared to the amount wagered – of 8.6 percent since 2018, according to Legal Sports Report, which tracks state-by-state betting data. The national average is 7.2 percent.

In other words, of the $1.2 billion in bets that have been placed in Rhode Island, the sportsbooks have netted $105 million over the past four years.