RI to profit from Super Bowl for 1st time since launch of sports betting

Business News

PROVIDENCE, R.I. (WPRI/AP) ─ Rhode Island will make money on the Super Bowl, unlike last year when football fans flocked to the state’s two casinos and overwhelmingly bet on the victorious New England Patriots.

The state revenue department said Monday that approximately 60,000 football fans legally bet $5.5 million on the Super Bowl this year in Rhode Island. Seventy-five of those bets were more than $5,000.

Gamblers won $4.7 million, leaving about $805,000 in revenue.

The state, which gets 51% of sports betting profits, expects to clear at least $400,000 as bets are finalized.

This year, the largest win was $70,000 on a spread bet on the Kansas City Chiefs. The largest losing bet was $35,000 on the over.

Last year when the Patriots won and covered the spread too, the state’s sportsbooks lost $2.35 million.

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