Bally Bet Casino: Impressive May Revenue in Rhode Island

The good news keeps rolling in for Bally’s.

Bally Bet Casino reported $2.26 million in revenue for May in Rhode Island, its third month since launching in the state. The numbers represent an increase of over 8% from April and give hope for the nation’s smallest online gambling market. 

Bally’s is currently the only operator in Ocean State, boasting a population of just over one million people. Many questioned what kind of success online casinos would have in such a small market, making May’s uptick in revenue promising for the market’s future. 

Slot games contributed the most to the month’s impressive numbers, accounting for over 72% of the total for May. Slot games have steadily risen in popularity, while revenue from table games has dropped once again.1

Revenue numbers for the industry have been increasing over the months, but high-wining percentages from gamblers have limited the money Rhode Island is seeing in tax revenue. 

Bally’s Continues Recent String of Success

On top of a revenue increase for their Rhode Island online casino, Bally’s also added a new sportsbook market this week. The Bally Bet Sportsbook went live in Massachusetts on Tuesday, adding an eighth market where the platform is now available. 

Bally’s sportsbooks business got off to a rocky start after struggling to gain a foothold in an ultra-competitive market. They decided to scale back as they prepared for a new strategy, which is now being executed. While Bally’s is unlikely to compete with the likes of FanDuel and DraftKings, they could carve out enough market share to compete with the rest of the industry.

Sportsbook Rhode Island, the state’s lone sportsbook, is run by the Rhode Island Lottery. The platform has received brutal user reviews, which means the state could open up its market. Bally’s success in the online casino industry could help them take the small market over, furthering their growth.