Tag: Retail sports betting

Consumers in Rhode Island spent more than $500m on sports betting during the 2021-22 financial year, while the US state’s betting revenue amounted to $39.7m.

Total handle for the 12 months through to the end of June 2022 was $517.2m, an increase of 46.5% from $353.0m in the previous financial year, according to figures published by the Rhode Island Lottery.

Some $290.5m was wagered via mobile during the year, while players also spent $226.8m at retail sportsbooks, split $164.9m across the Twin River casino and $61.9m at the Tiverton Casino.

Combined online and retail revenue for the year was up 9.7% from $36.2m in 2020-21 to $39.7m.

Online betting accounted for $122.1m of total revenue for the financial year, with $17.7m coming from retail. Twin River was responsible for $11.7m of all retail revenue and the Tiverton Casino $6.0m.

Meanwhile, the Rhode Island Lottery also published figures for the final month of the year, with handle for June climbing 29.1% year-on-year to $34.2m. H..

Consumers in Arizona spent a total of $461.5m (£385.1m/€452.6m) on sports betting during May, while gross revenue for the month amounted to $55.2m.

The US state’s monthly handle, covering online, retail and limited event wagering operator licensees, was down 10.0% from $512.9m in April and some way off the record $691.0m set in March.

Of this total handle, $456.7m was bet online, while just $4.6m was spent wagering at retail sportsbooks across Arizona.

Players won $405.3m during the month, which left $55.2m in revenue, up 48.4% month-on-month from $37.2m in April.

After including $13.8m in free bets and promotional credits, taxable revenue for the month was $41.4m, a 151.5% improvement from $16.5m in the previous month.

FanDuel claimed top spot in terms of handle, processing a total of $152.4m in wagers, split $148.7m online and $3.6m for retail wagering. DraftKings placed second with $141.1m in online bets, then BetMGM with $84.2m worth of online wagers.

Turning to gross revenue..

Consumers in Arizona spent a total of $461.5m (£385.1m/€452.6m) on sports betting during May, while gross revenue for the month amounted to $55.2m.

The US state’s monthly handle, covering online, retail and limited event wagering operator licensees, was down 10.0% from $512.9m in April and some way off the record $691.0m set in March.

Of this total handle, $456.7m was bet online, while just $4.6m was spent wagering at retail sportsbooks across Arizona.

Players won $405.3m during the month, which left $55.2m in revenue, up 48.4% month-on-month from $37.2m in April.

After including $13.8m in free bets and promotional credits, taxable revenue for the month was $41.4m, a 151.5% improvement from $16.5m in the previous month.

FanDuel claimed top spot in terms of handle, processing a total of $152.4m in wagers, split $148.7m online and $3.6m for retail wagering. DraftKings placed second with $141.1m in online bets, then BetMGM with $84.2m worth of online wagers.

Turning to gross revenue..

Players in New Hampshire staked $861.1m (£718.1m/€842.8m) on sports betting during the state’s 2022 financial year, while DraftKings generated revenue of $51.6m.

Handle for the 12 months to the end of June 2022 was 65.4% higher than $520.6m in FY21, the first full financial year of legal sports betting in the state following the launch of its regulated market in December 2019.

Of this total, $670.3m was wagered via DraftKings’ online offering and $190.8m at retail sportsbooks across New Hampshire. The operator secured exclusive rights to offer sports betting via the New Hampshire state lottery in November 2019.

Turning to gross gaming revenue and for the 12-month period reached $51.6m, up 32.3% from $39.0m in FY21.

Some $44.0m of total yearly revenue was generated through online sports wagering and the remaining $7.6m came from retail activity.

The NH Lottery reported that the state recouped $23.9m in taxes from sports betting during the 2022 financial year, $20.6m of which was f..

Sports betting revenue in Oregon declined 10.7% year-on-year to $2.5m (£2.1m/€2.5m) in June despite an increase in player spending during the month.

Gross gaming revenue from sports betting was down from $2.8m in June of last year and also 50.0% lower than $5.0m in May 2022.

Consumers wagered $34.0m on sports during the month, which was 36.6% higher than $24.9m in June 2021, but 18.5% down from $41.7m in May of this year.

DraftKings, which has a state-wide partnership with the Oregon Lottery, generated $2.6m in revenue from $33.9 in player bets.

In contrast, the Oregon Lottery’s Scoreboard online sportsbook – which has been phased out to be replaced by DraftKings but still pays out on bets placed before this process began – took $56,269 in wagers but posted a loss of $100,600.

Baseball drew the highest amount of spending, with players having spent $13.9m betting on the sport and revenue from this reaching $898,175. All of this activity took place through DraftKings.

Basketball fo..

Sports betting revenue in Iowa fell 21.4% year-on-year to $6.6m (£5.5m/€6.5m) in June, despite player spending in the state increasing by 10.1%.

Revenue was down from $8.4m in June 2021 and also 47.6% lower than $12.6m in May of this year.

Some $6.2m of this total was attributed to online sports betting, while just $340,552 came from players betting at retail sportsbooks across the state.

In terms of handle, consumers wagered a total of $122.4m on sports during June, up from $111.2m in the same month last year, but 17.2% down from $147.9m in May 2022.

Of this total, $111.9m was spent online, while the remaining $10.5m was wagered through retail sportsbooks.

Breaking down individual operator performance, Diamond Jo in Dubuque and its FanDuel sportsbook topped the revenue charts with $1.9m in sports betting revenue for the month, while its $31.0m handle was also the highest in the state.

DraftKings partner Diamond Jo in Worth was second with $1.0m in revenue and a $15.4m handle, th..

Players in New York spent $1.05bn (£876.9m/€1.04bn) on mobile sports betting in June, the shortest monthly total since the regulated market launched in January, while revenue also fell to a record low.

The total amount wagered by consumers during the month was 16.7% down from $1.26bn in May, which was incidentally the previous lowest monthly handle in New York, and marked the third consecutive month of decline.

Gross gaming revenue from mobile sports betting also declined 34.1% month-on-month to $72.4m, also surpassing the previous record-low of $82.4m set in February.

Looking at individual operators, Flutter Entertainment-owned FanDuel Group remained the clear market leader with $39.6m in revenue from $472.9m in total bets.

DraftKings placed second with $16.4m in revenue off a handle of $270.2m, ahead of Caesars Sportsbook with revenue of $6.3m and a $156.4m handle. BetMGM also posted $6.3m in revenue, albeit with a lower handle of $92.4m.

Rush Street Interactive followed with $1..