Rhode Island’s online casinos have generated record numbers just one month after its launch. Led by the Bally’s Corporation, online casino gaming became available in The Ocean State last March 5, 2024.
According to the Rhode Island Lottery financial report, the revenue garnered by iGaming so far has reached $1.2 million. Bally’s has been the leading casino operator in the state, with its two major casinos located in Tiverton and Twin River. The company also operates a lone sports betting app, and the launching of online casino options has shown positive results so far.
Meanwhile, the two retail casinos also posted the highest revenue numbers they’ve had this fiscal year. Both casinos combined for $48.7 million in gross revenue in March, representing the highest revenue total so far in Bally’s 2024 fiscal year, which started in July 2023.
What are the Popular Online Casino Games in Rhode Island?
The same report noted that the available online casino games Bally’s offered to its player base are online slots and online table games. On the side of numbers, online slot games accounted for more than 75% of the state’s iGaming revenue compared to online table games.
This trend of online slot games being the more popular option for those playing online continues, but in terms of collective wagering, both game types had an almost even split:
While internet casino table games saw more action, with a drop totaling to $15.6 million compared to the nearly $15.5 million played in slots, in terms of win rate, slot games had slightly higher numbers with 6.3%. This percentage was more than four times higher than the 1.5% hold for play on table games.
Bally’s performance in Rhode Island was less than 20% of the $6.3 million in revenue compared to its online casino platform in New Jersey. However, it is worth noting that online casinos are just at their infancy in Rhode Island unlike New Jersey.
Moreover, given the favorable numbers it has garnered in just its first month, projections are looking positive as online casino gaming in Rhode Island gets more settled in, and players continue to engage with the available casino games.
Which States Have Legalized Online Casinos so Far?
Rhode Island began lobbying for the legalization of online casinos back in 2023. But now, with Rhode Island legalizing and launching online casinos, the Ocean State becomes the seventh state in the US where playing online casino games are legal. They follow New Jersey, Pennsylvania, Michigan, Connecticut, West Virginia, and Delaware.
At a glance, here are the states’ placement as far as online casino revenue between these states for March 2024:
- Pennsylvania – $233.1 million
- Michigan – $215.2 million
- New Jersey – $197.1 million
- Connecticut – $44.3 million
- West Virginia – $20.7 million
- Delaware – $4.6 million
- Rhode Island – $1.2 million
Rhode Island has just started generating revenue on online casino gaming, it will take some time for its market to mature. In terms of per capita revenue, Delaware has the closest comparison to Rhode Island, since both have relatively similar population numbers, with the former having 1 million while the latter having 1.1 million. Delaware currently has a per capita revenue of $4.60, while Rhode Island raked in $1.10.
That said, there is still some time for Rhode Island’s online casino market to grow and develop.
Last Updated on by jonathan r
