The Rhode Island Lottery last week released figures on profits made on sports betting since it unrolled the program the day after Thanksgiving. The state made $1.9 million, after predicting that it would make $30 million.
Officials say that’s because the program was unveiled slower than had been planned. The state also took a large hit on the Super Bowl when millions bet on the Patriots, taking the state to the cleaners for about $400,000. Wagers made on March Madness partially made up for that loss.
Lottery officials are now looking hopefully towards summer, when Major League Baseball will be fully engaged and the lottery will roll out mobile betting in August. That is considered the most profitable type of sports betting and officials hope it will bring in $3 million a year and take advantage of the NFL season.
Lottery Director Gerald Aubin told reporters last week, “Our participation is growing, it’s doing very well, and we really firmly believe that as grow with the app, it’s going to bring in new players.”
