Rhode Island sports betting has flourished amid the pandemic-led economic crisis and witnessed a 231.5 percent increase in total handle.
While there has been a downturn in most other business activities during the last five months, this performance has been a welcoming sign and reflects a great future for the betting industry in Rhode Island.
However, the upward trend in the betting activity has been ascribed to the two developments. The first is the lifting of the in-person registration requirement, and the second is that most of the casinos in the state re-opened.
July brought in $6.5 million, a manifold increase from the June gains of just $2 million. The industry analysts had been hoping for these optimistic figures, though they were not entirely sure it would happen.
Mobile Betting Proved to be the Big Winner
A close look at the figures will reveal the actual winner for July was mobile wagering. As said earlier, the in-person requirement was waived, which facilitated the people a lot. It meant the enthusiasts could not create accounts from the luxury of their home, without bothering to drive miles to casinos.
This proved a wise move on the part of Rhode Island and opened the door of opportunities for all sorts of sports betting.
In June, the mobile wagering handle was $2.1 million, which swelled to more than double in July, which saw a $4.4 million sports handle. Precisely, it represents a 109.5 percent in one month, according to reports issued by the Rhode Island Lottery.
Comparing this July with the last year’s July, the significant difference was that mobile sports betting was not offered then. Now, a year later, mobile sports betting is making up 654 percent of the overall sports handle, making it available to all has been another victory for Rhode Island.
So, more convenience in a year has led to a greater level of customer engagement, which in turn has led to an increased level of betting activity in the state.
Indeed, mobile wagering is able to pull a bigger crowd that wasn’t necessarily a casino-going multitude.
In-Person Registration Also Waived in July
Governor Gina Raimondo suggested eliminating in-person registration on July 22. It clearly suggests that August would potentially perform even better for mobile wagering since it will allow a full month of online registration.
Two bills were required in order to banish the standing requirement of in-person registration.
The way it stands now is that people can place wagers from any location in the state, including from the comfort of their home.
Some Bad News
Amid the happy news for Rhode Island residents, there is one bad news that could affect a few hundred families.
Twin River Casino Hotel and Tiverton Casino Hotel, both managed by Twin River Worldwide Holdings, has announced to furlough around 1300 of its employees by the end of September.
Inevitably, much of these kinds of decisions will depend on how the gaming market behaves in the coming days. It will depend on the people who are still fearful of the pandemic that made them cautious for social distancing.