This story was published more than 1 year ago.
Sportsbetting revenues in Rhode Island fell 54.4% in May, this despite gamblers wagering more on the activity then they did in April.
Revenues for the state hit $899,165 with $18.9 million in sports bets placed during the month. That number is up from the $16.9 million wagered the month prior. The two casinos that have sportsbetting paid out $18.0 million to punters, which was up heavily from the $14.9 million the month prior due largely to results going the way of the players.
The most popular spot to place wagers was the Twin River Lincoln Casino, which had punters wager $14.6 million, up $900,000 from April. The casino paid out $14.1 million to players, leaving the group with $574,703 in revenues. The Twin River Tiverton had $4.3 million in wagers, with $3.9 million in bets paid out, which had $324,462 in revenues.
The decline was largely attributed to the amounts paid out to players, and it's likely those lucky streaks won't last. Bets should tick up as the summer progresses, as college and professional football season is just around the corner.