Sports betting revenue projection was $11.5M. So far? $150K

PROVIDENCE, R.I. (AP) — The Rhode Island lottery says the state’s casinos lost nearly $900,000 on sports betting in February after winning bets for the Super Bowl and other professional sports were paid out.

That leaves Rhode Island with about $150,000 in revenue from sports betting since the late November launch. The state had projected it would get $11.5 million from the new market this fiscal year.

The lottery released figures Friday for bets placed at Twin River Casino in Lincoln and Tiverton. Gamblers placed about $20.7 million in wagers. The casinos paid nearly $21.6 million on winning bets.

Many football fans went to the casinos in January and February to bet on the victorious New England Patriots in the Super Bowl.

The state gets 51 percent of sports betting revenue, after subtracting expenses.

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