Rhode Island sports betting handle rises in September  

Finance News

Revenue from sports betting in Rhode Island was  $37.6m in September according to the state’s gaming financial statements published in an annual report Tuesday by the office of the Auditor General. 

Even as gambling continues to expand in neighboring states, Rhode Island brought in more than $434 million in tax revenue from most forms of gambling during the fiscal year that ended June 30, 2023 — a nearly 12% increase from 2022.

The bulk of last year’s gaming revenue came from video lottery, which accounted for $320.5 million (or 71.9% of total gross profit). 

Online games generated $50.9 million, representing a 14.4% increase from fiscal year 2022. Auditors attributed the rise to increased wagering on larger jackpots through the PowerBall and Mega Millions — three of which last year saw prize totals of more than $1 billion.