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The latest customer figures for Rhode Island sports betting continue to highlight the limitations of an in-person registration requirement.
Of the 23,564 mobile registrations through March 4, just 43.3%, or 10,209, have gone to one of the state’s two Twin River casinos to complete the registration process.
There are currently four states that require in-person registration for an online sports betting account:
- Iowa
- Nevada
- Rhode Island
- Illinois (not yet live online)
The total handle in September topped $30 million, setting a 2020 record for the state. Rhode Island only has two sportsbooks in the entire state, and both are powered by William Hill, giving William Hill the entire market share. If you are wondering why Rhode Island only has two sportsbooks in the entire state, taxes could be playing a role. Rhode Island’s betting handle also hit a record high in November, beating the $34.7 million handle. The biggest factor with the jump in numbers was the Ocean State legalizing mobile sports betting in 2020. Online wagering is also becoming more popular among Rhode Island people, seeing the most betting activity at a $15.6 million betting handle. Sports betting is legal in a number of states including New Jersey, Mississippi, Rhode Island, Pennsylvania, Colorado, Illinois, Indiana, Iowa, and more. However, there are separate laws for mobile sports betting. Some states only betting in a physical casino. The following map shows the states in which DraftKings is legal for mobile sports betting.
Neither Twin River, which operates the state’s casinos on behalf of the state lottery, nor the RI Department of Revenue, would comment on the story.
Where’s that program, Rhode Island?
Twin River said in January that it was working on a program called the next evolution of the RI sports betting project.
The program was intended to boost in-person registration and was slated to launch by mid-January.
That program was still in the planning phase as of March 6, a spokesperson said.
Rhode Island Map
Online market share totals for sports betting
Online share for the three live in-person registration states is the lowest in the country out of the seven states that offer both retail and online betting.
Rhode Island sports betting’s online share in January remained the lowest in the country at 28.9%. That improved to 31.7% in February, according to the Department of Revenue. But both figures are still significantly lower than Nevada’s 49% online share in January.
Iowa reported a 66.4% online share for February.
Those are all notably lower than open online states like Pennsylvania and New Jersey, with both nearing a 90% mobile share in January. Indiana reported a 77.9% share for February, while West Virginia had a 69.3% online share for the four-week period ending on Feb. 29.
More Rhode Island sports betting figures
The 10,209 customers completing the in-person registration don’t tell the full story for sports betting in Rhode Island.
Only 8,296 customers funded their accounts. That means the conversion rate from starting the mobile sign-up process to an account that can place a bet is actually 35.2%.
That’s lower than the 37.4% of accounts that were funded as of Dec. 2.
The state had 1.1 million online bets as of March 4 since the mobile app launched in September. From launch through January, online handle was $34.1 million, or just 21.4%.
Recent trends positive but still work to be done
Total online wagers through March 4 are about $43.5 million. That suggests around $9 million in online handle for February, which would make it the state’s best online month yet.
Through the first four days of March, online share was 33.2%, according to the Department of Revenue. That share was 34.8% in the week of Feb. 24 through March 1, which was the highest weekly online share yet for the state.
While those are improvements, Rhode Island remains far behind the other states at those rates. And competition has only gotten tougher with New Hampshire now vying for market share in Boston as well.
RI much slower to 1 million mobile bets than NH
New Hampshire’s mobile-only sportsbook through DraftKings Sportsbook has taken off much faster than Rhode Island’s mobile book.
DraftKings took its 1 millionth bet Feb. 8, 41 days after launching Dec. 30. Since the state is mobile-only, all DraftKings Sportsbook sign-ups are completed remotely through the app.
Rhode Island’s, meanwhile, came on Feb. 17, 167 days after launch.
Sports Betting Market Leaders By State
by Matias Dorta / November 12th, 2020
Introduction
U.S. online sports betting is akin to a digital gold rush. Each new state that legalizes online sports betting becomes a new frontier for the companies and operators competing for the U.S. market. In this blog, we will cover the states that have legalized online sports betting as of September 2020 and break down the current state of each market.
This blog will be updated monthly as new data becomes available (feel free to bookmark).
Sports Betting Market Leaders By State
The information below is based on the most recent data as of October 31, 2020, representing the various states that have regulated online sports betting markets. Market Leader refers to the leader for online sports betting. This is not a recommendation to buy or sell securities.
New Jersey
October 2020 Total Handle: $803 million
Online Percentage: 93%
Market Leader: FanDuel/Pointsbet
The Garden State has become the success story in U.S. online sports betting. New Jersey, which launched its first legal online sportsbook in the summer of 2018, is now the U.S. leader in online sports betting. The state set a record for single state monthly sports betting handle in the U.S. in August with a total handle of $667.9 million, and then broke its own record in September with a $748.6 million handle, and again in October passing $800M.
The state currently has over 10 live online sportsbooks, including DraftKings, FanDuel, BetMGM, William Hill, bet365 and more.
The market leader in New Jersey is FanDuel/PointsBet. FanDuel and PointsBet are both partnered with license holder Meadowlands, therefore, their revenue is reported together. The tandem recorded just under $30 million in revenue from online wagers in October. According to NJ Gambling Sites, FanDuel Sportsbook is responsible for a majority of that revenue. The runner-up in the New Jersey market is DraftKings/BetStars operating under Resorts license, the duo generated ~$14.6 million in revenue in October.
Related Companies: Flutter Entertainment, PointsBet, DraftKings, William Hill
Nevada
October 2020 Total Handle: $659.6 million
Online Percentage: 57.1%
Market Leader: William Hill
Nevada has a rich history of gambling as the first state to legalize most forms of wagering in 1931. In 2010, Nevada allowed sports betting apps to go live, which opened the door to wagering outside of a physical sportsbook. In October 2020, Nevada posted a $659.6 million sports betting handle. Despite seeing fewer tourists than last year, sports betting increased 21.3% from October 2019. Online mobile sports betting was responsible for a little over half of the handle in October 2020.
The market leader in Nevada is William Hill. The company boasts 32% of the total gross revenue market share in the state and attributes 69% of its bets taking place through its online channels. William Hill was recently acquired by Caesars Entertainment in a deal that values the company at $3.7 billion.
Related Companies: William Hill
Pennsylvania
October 2020 Total Handle: $525.8 million
Online Percentage: 89.8%
Market Leader: FanDuel
Pennsylvania is becoming one of the hottest online sports betting markets in the United States. I was in Philadelphia in September and every street corner had some sort of sports betting advertisement. The state set a sports betting handle record in September and followed that up with another record in October, reaching $525.8 million.
Online sportsbooks are aggressively going after the market with Penn National Gaming debuting the Barstool Sportsbook app in the state and DraftKings partnering with the Philadelphia Eagles to bring a premium lounge to Lincoln Financial Field.
However, the current market leader in the state is FanDuel. FanDuel sportsbook was responsible for $185 million of the October handle, followed by DraftKings ($123.4 million).
Related Companies: Flutter Entertainment, DraftKings, Penn National Gaming
Rhode Island
September 2020 Total Handle: $31.3 million
Online Percentage: 44.7%
Market Leader: William Hill
Rhode Island set a record in September 2020 for online betting with a total mobile handle of $14 million. The total handle in September topped $30 million, setting a 2020 record for the state. Rhode Island only has two sportsbooks in the entire state, and both are powered by William Hill, giving William Hill the entire market share.
If you are wondering why Rhode Island only has two sportsbooks in the entire state, taxes could be playing a role. Rhode Island imposes a whopping 51% tax on operators, making The Ocean State the highest taxed sports betting jurisdiction in the world.
Related Companies: William Hill
Indiana
October 2020 Total Handle: $207.5 million
Online Percentage: 83.5%
Market Leader: DraftKings
Indiana, like many other states on this list, hit a sports betting handle all-time high in September, surpassing $200 million for the first time. Sports betting in Indiana launched in October 2019 with three books, DraftKings, FanDuel, and BetRivers, and the former is the current market leader.
In October 2020, DraftKings ($90.5 million) and FanDuel ($63.6 million) accounted for close to 80% of the total online handle in the state. BetMGM came in third boasting a $20.1 million monthly handle.
The current market leaders will need to keep an eye out for William Hill / Caesars who made their intent to enter the market clear by signing a multi-year deal with the Indianapolis Colts.
Related Companies: Flutter Entertainment, DraftKings, William Hill
Iowa
October 2020 Total Handle: $81.9 million
Online Percentage: 69.1%
Market Leader: William Hill
Iowa legalized sports betting in May 2019 and William Hill, Elite Sportsbook, and PointsBet launched later in the year. In October 2020, the state hit a sports betting all-time high with $81.9 million in total handle. The overall online handle of $56 million during the month was also a record high for the state. William Hill, the market leader, accounted for close to $35 million in bets.
Related Companies: DraftKings, William Hill
Illinois
September 2020 Sports Betting Handle: $305 million
Online Percentage: 92%
Market Leader: BetRivers
The sports betting handle in Illinois rose to $139.8 million in August, a 166.7% increase from July. The market leader for the month was BetRivers, which accounted for around 85% of the total handle during the month. However, this type of market share should not be expected to be maintained. Due to pandemic related in-person registrations closures and a complicated executive order by the governor, FanDuel and DraftKings were essentially unable to register new users for the entire month.
September should look different as it will be the first full month where FanDuel and DraftKings can freely onboard users. Also, William Hill and PointsBet entered the market in September. All this new competition should cut into BetRivers’ 85% market share from August.
September Update: As expected, in September 2020, BetRivers market share was reduced by new competition in the Illinois market. DraftKings brought in more than $95.8 million in wagers and nearly passed BetRivers, which led all online sportsbooks in September with a $98.5 million handle.
Related Companies: Flutter Entertainment, DraftKings, William Hill
West Virginia
September 2020 Total Handle: $76.9 million
Online Percentage: 77%
Market Leader: DraftKings
Sports betting in West Virginia saw a major boost from August to September. Total handle increased 90%, while revenue jumped 133% month-over-month. Currently, there are four major players operating in the state - William Hill, FanDuel, BetMGM, and the market leader, DraftKings.
Since launching in August 2019, DraftKings and its partner in the state, Hollywood Sportsbook, have seen $296 million in handle, with $94 million of that total coming from online bets.
BetMGM and FanDuel operate under the same license with The Greenbrier. The combined groups have brought in a total handle of $143 million, with $131 million of that total taking place online.
Related Companies: Flutter Entertainment, DraftKings, William Hill
Colorado
October Total Handle: $210 million
Online Percentage: 98%
Market Leader: DraftKings
Colorado sports betting has been on fire since its launch in May 2020. Sports betting in the state has seen a month-to-month increase in overall betting handle for five consecutive months. In July, CO passed $50 million in total handle for the first time; in September, the monthly handle surpassed $200 million. The growth can be attributed to a surge in online app accessibility. Bettors in Colorado can already wager on over ten different mobile apps, including DraftKings, FanDuel, BetMGM, BetRivers, and more. Users seem to be buying into the digital experience with over 98.4% bets being placed online since July 2020.
Estimates suggest that DraftKings is the market leader in Colorado followed by FanDuel, with both operators accounting for 84% of the state’s total gross gaming revenue since sports betting went live in the state in May.
Related Companies: Flutter Entertainment, DraftKings, William Hill
Oregon
Draftkings Sportsbook Rhode Island News
September 2020 Total Handle: $26 million
Online Percentage: 100%
Market Leader: DraftKings-SBTech / Oregon Lottery
Oregon sports betting is complicated to say the least. The state only allows bettors to wager online through one app, Scoreboard, which is a partnership between the Oregon Lottery and SBTech. The app launched in October 2019 and as of March 2020, the Oregon Lottery had lost $2 million on the venture despite seeing ~$6 million in revenue. This is due to a complicated arrangement between the Oregon Lottery and SBTech who, according to Legal Sports Report, may have the better end of this deal. DraftKings and SBTech merged back in April 2020.
Oregon set a sports betting all-time high in September with $26 million in handle with football responsible for the majority of the action.
Draftkings Sportsbook Rhode Island Unclaimed
Related Companies: DraftKings
Washington DC
September 2020 Total Handle: $15.4 million
Online Percentage: 20%
Market Leader: GameBet
Just like Oregon, online sports betting in Washington DC is only allowed through a government operated app. Washington DC allows bettors to wager online through GameBetDC, an app operated by the DC Lottery. The app has a 1.6 out of 5 rating in the Apple Store and is being dominated by the only alternative in the city, the land-based William Hill sportsbook in the Capital One Arena.
In September, the William Hill retail sportsbook saw $12.2 million in wagers, close to four times more than the $3.2 million wagered on GameBetDC during the month.
Despite having the advantage of being the exclusive online offering, GameBetDC’s competition is only getting stronger. William Hill is opening a brand new luxurious sportsbook and premium lounge in the Capital One Arena in 2021 (the current set up is temporary due to the pandemic) and FanDuel is set to launch a retail sportsbook with D.C. United inside Audi Field.
Draftkings Sportsbook Download
Related Companies: William Hill
Draftkings Sportsbook Rhode Island News
New Hampshire
October Total Handle: $47 million
Online Percentage: 85%
Market Leader: DraftKings
New Hampshire set a state record in October by reaching $47 million in total sports betting handle, with 85% of that handle coming online. 100% of the online handle was placed on the state’s only mobile sportsbook, DraftKings. The DraftKings Sportsbook app saw $40 million in handle during the month of October in New Hampshire.
Related Companies: DraftKings
Table
| State | Monthly Handle | Online Percentage | Market Leader |
| New Jersey | $803 million | 93% | FanDuel/Pointsbet |
| Nevada | $659.6 million | 57.1% | William Hill |
| Pennsylvania | $525.8 million | 89.8% | FanDuel |
| Rhode Island | $31.3 million | 44.70% | William Hill |
| Indiana | $230.9 million | 84% | DraftKings |
| Iowa | $81.9 million | 69.10% | William Hill |
| Illinois | $305 million | 92% | BetRivers |
| West Virginia | $76.9 million | 77% | DraftKings |
| Colorado | $210 million | 98.40% | DraftKings |
| Oregon | $26 million | 100% | DraftKings-SBTech / Oregon Lottery |
| Washington DC | $15.4 million | 20% | *GameBet |
| New Hampshire | 47 million | 85% | DraftKings |
* Information based off of September 2020 / October 2020 data. William Hill is the overall market leader in Washington DC, GameBet is the market leader for online betting because it is the only option allowed in the DC for online betting.
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