This story was published more than 4 years ago.
Sportsbetting has proved to be a moderate hit in the state of Rhode Island, as the state's Twin River Casino facilitated $682,714 in wagers during the first five days that legalized betting was allowed.
The sportsbook is the only being offered at Twin River in Lincoln, and has been in operation since November 26th. The wagers placed saw $609,717 in winnings paid out to punters. The end result is $72,997 in profit to split between the casino, the operator of the book (IGT), and the state of Rhode Island. The state is taking 51% of revenues, but there will be some extra money taken out before a final number is revealed.
Analysts within Rhode Island are predicting that revenues will hit $12 million by the end of the fiscal year, which is down from the $23.5 million initially predicted.
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Comments
Yeah, obviously the numbers are not great but that's just the initial stage since sportsbetting offering been legalized in the state so those numbers could only grow I think.
But they would have to make some changes and probably increase the number of spots when it's been offered that's for sure.