Rhode Island sportsbooks had their best month yet in March

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FILE – This March 8, 2019, file photo shows giants video screens inside the sports betting lounge at the Tropicana casino in Atlantic City N.J. Most of the states that moved quickly to legalize sports betting after a Supreme Court decision last year are still waiting for the expected payoff. Only New Jersey and Delaware […]

Rhode Island sportsbooks had their best month yet in March, thanks to bets from college basketball fans.

The state lottery says gamblers placed nearly $23.6 million in wagers in March, when the NCAA Tournament is held – the highest monthly total since sports betting launched in November. Casinos paid $22 million on winning bets.

The $1.5 million profit is the highest monthly total, bringing total profits to about $1.8 million. The state gets 51% after expenses are subtracted.

Tax revenue has fallen far short of projections so far. Rhode Island, the only New England state with legal sports betting, expected to generate $11.5 million this fiscal year.

Lottery Director Gerald Aubin says he thinks the market will continue growing and it’s fortunate neighboring Massachusetts and Connecticut haven’t launched sports betting.
 

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