Rush Street Interactive (RSI) 10-Q 6 May 22 2022 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2022	May 04, 2022
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	001-39232
Entity Registrant Name	Rush Street Interactive, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	84-3626708
Entity Address, Address Line One	900 N. Michigan Avenue
Entity Address, Address Line Two	Suite 950
Entity Address, City or Town	Chicago
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60611
City Area Code	312
Local Phone Number	915-2815
Title of 12(b) Security	Class A common stock, $0.0001 par value per share
Trading Symbol	RSI
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Central Index Key	0001793659
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Amendment Flag	false
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		63,947,832
Class V Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		155,893,584

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents	$ 232,248	$ 281,030
Restricted cash	28,761	19,299
Players’ receivables	7,264	5,829
Due from affiliates	30,757	28,159
Prepaid expenses and other current assets	9,924	7,433
Total current assets	308,954	341,750
Intangible assets, net	53,522	53,380
Property and equipment, net	8,186	7,232
Operating lease right-of-use asset, net	1,400	1,562
Other assets	4,630	4,807
Total assets	376,692	408,731
Current liabilities
Accounts payable	1,257	6,501
Accrued expenses	57,897	48,287
Players’ liabilities	33,616	24,160
Deferred royalty, short-term	1,468	1,415
Operating lease liabilities, short-term	522	509
Other current liabilities	4,534	3,062
Total current liabilities	99,294	83,934
Deferred royalty, long-term	15,257	15,633
Operating lease liabilities, long-term	970	1,148
Other long-term liabilities	289	315
Total liabilities	115,810	101,030
Commitments and contingencies
Stockholders’ equity (deficit)
Additional paid-in capital	171,873	167,270
Accumulated other comprehensive income (loss)	(57)	(475)
Accumulated deficit	(96,078)	(81,381)
Total stockholders’ equity (deficit) attributable to Rush Street Interactive, Inc.	75,760	85,436
Non-controlling interests	185,122	222,265
Total stockholders’ equity (deficit)	260,882	307,701
Total liabilities and stockholders’ equity (deficit)	376,692	408,731
Class A Common Stock
Stockholders’ equity (deficit)
Common stock value	6	6
Class V Common Stock
Stockholders’ equity (deficit)
Common stock value	$ 16	$ 16

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2022	Dec. 31, 2021
Class A Common Stock
Common stock, par value (in USD per share)	$ 0.0001	$ 0.0001
Common stock, authorized (in shares)	750,000,000	750,000,000
Common stock, issued (in shares)	63,927,151	61,118,406
Common stock, outstanding (in shares)	63,927,151	61,118,406
Class V Common Stock
Common stock, par value (in USD per share)	$ 0.0001	$ 0.0001
Common stock, authorized (in shares)	200,000,000	200,000,000
Common stock, issued (in shares)	155,893,584	158,702,329
Common stock, outstanding (in shares)	155,893,584	158,702,329

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
Revenue	$ 134,938	$ 111,820
Operating costs and expenses
Costs of revenue	99,858	79,687
Advertising and promotions	66,849	42,216
General administration and other	15,540	16,564
Depreciation and amortization	2,737	674
Total operating costs and expenses	184,984	139,141
Loss from operations	(50,046)	(27,321)
Other income (expenses)
Interest expense, net	(222)	(13)
Change in fair value of warrant liabilities	0	41,802
Change in fair value of earnout interests liability	0	(13,740)
Total other income (expenses)	(222)	28,049
Income (loss) before income taxes	(50,268)	728
Income tax expense	2,002	804
Net loss	(52,270)	(76)
Net loss attributable to non-controlling interests	(37,573)	(59)
Net loss attributable to Rush Street Interactive, Inc.	$ (14,697)	$ (17)
Net loss per common share attributable to Rush Street Interactive, Inc - basic (in dollars per share)	$ (0.24)	$ 0
Weighted average common shares outstanding - basic (in shares)	61,800,359	46,955,262
Net loss per common share attributable to Rush Street Interactive, Inc. - diluted (in dollars per share)	$ (0.24)	$ (0.18)
Weighted average common shares outstanding - diluted (in shares)	61,800,359	53,415,488
COMPREHENSIVE LOSS
Net loss	$ (52,270)	$ (76)
Other comprehensive income (loss)
Foreign currency translation adjustment	1,514	(624)
Comprehensive loss	(50,756)	(700)
Comprehensive loss attributable to non-controlling interests	(36,485)	(540)
Comprehensive loss attributable to Rush Street Interactive, Inc.	$ (14,271)	$ (160)

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (DEFICIT) - USD ($) $ in Thousands	Total	Total Stockholders’ Equity (Deficit) Attributable To RSI	Treasury Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Loss	Accumulated Deficit	Non- Controlling Interests	Class A Common Stock	Class A Common StockCommon Stock	Class V Common StockCommon Stock
Beginning balance (in shares) at Dec. 31, 2020			0						44,792,517	160,000,000
Beginning balance at Dec. 31, 2020	$ (267,329)	$ (61,779)	$ 0	$ 0	$ 93	$ (61,892)	$ (205,550)		$ 4	$ 16
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation (in shares)									571,239
Share-based compensation	11,576	2,557		2,557			9,019
Foreign currency translation adjustment	(624)	(143)			(143)		(481)
Issuance of Class A Common Stock upon exercise of Warrants (in shares)									14,014,197
Issuance of Class A Common Stock upon exercise of Warrants	259,895	70,146		70,144			189,749		$ 2
Repurchase of Class A Common Stock (in shares)			218,589
Repurchase of Class A Common Stock	(3,465)	(850)	$ (850)				(2,615)
Settlement of earnout interests liability	364,788	79,779		79,779			285,009
Net loss	(76)	(17)				(17)	(59)
Allocation of equity and non-controlling interests upon changes in RSILP ownership	0	8,757		8,757			(8,757)
Ending balance (in shares) at Mar. 31, 2021			218,589						59,377,953	160,000,000
Ending balance at Mar. 31, 2021	364,765	98,450	$ (850)	161,237	(50)	(61,909)	266,315		$ 6	$ 16
Beginning balance (in shares) at Dec. 31, 2021									61,118,406	158,702,329
Beginning balance at Dec. 31, 2021	307,701	85,436		167,270	(475)	(81,381)	222,265		$ 6	$ 16
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation	3,937	1,145		1,145			2,792
Foreign currency translation adjustment	1,514	426			426		1,088
Issuance of Class A Common Stock upon exercise of Warrants (in shares)								11,442,389	2,808,745	2,808,745
Net loss	(52,270)	(14,697)				(14,697)	(37,573)
Allocation of equity and non-controlling interests upon changes in RSILP ownership	0	3,450		3,458	(8)		(3,450)
Ending balance (in shares) at Mar. 31, 2022									63,927,151	155,893,584
Ending balance at Mar. 31, 2022	$ 260,882	$ 75,760		$ 171,873	$ (57)	$ (96,078)	$ 185,122		$ 6	$ 16

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities
Net loss		$ (52,270)	$ (76)
Adjustments to reconcile net loss to net cash used in operating activities
Share-based compensation expense		3,937	11,576
Depreciation and amortization expense		2,737	674
Deferred income taxes		44	(317)
Noncash lease expense		162	67
Change in fair value of earnout interests liability		0	13,740
Change in fair value of warrant liabilities		0	(41,802)
Changes in assets and liabilities:
Players’ receivables		(1,435)	(2,610)
Due from affiliates		(2,598)	(1,223)
Prepaid expenses and other current assets		(2,491)	(3,402)
Other assets		133	(298)
Accounts payable		(5,275)	(5,688)
Accrued expenses and other current liabilities		11,078	11,846
Players’ liabilities		9,456	6,368
Deferred royalty		(323)	(20)
Lease liabilities		(162)	(67)
Net cash used in operating activities		(37,007)	(11,232)
Cash flows from investing activities
Purchases of property and equipment		(1,045)	(447)
Acquisition of gaming licenses		(927)	(1,450)
Cash paid for internally developed software costs		(1,400)	(909)
Investment in long-term time deposits		0	(250)
Net cash used in investing activities		(3,372)	(3,056)
Cash flows from financing activities
Proceeds from shares issued for warrants		0	131,447
Repurchase of common stock		0	(3,465)
Principal payments of finance lease liabilities		(432)	0
Net cash provided by (used in) financing activities		(432)	127,982
Effect of exchange rate changes on cash, cash equivalents and restricted cash		1,491	(616)
Net change in cash, cash equivalents and restricted cash		(39,320)	113,078
Cash, cash equivalents and restricted cash, at the beginning of the period	[1]	300,329	262,065
Cash, cash equivalents and restricted cash, at the end of the period	[1]	261,009	375,143
Supplemental disclosure of noncash investing and financing activities:
Right-of-use assets obtained in exchange for new or modified operating lease liabilities		410	0
Non-cash redemption of Private Placement and Working Capital Warrants		0	50,798
Non-cash settlement of Public Warrants		0	77,650
Non-cash settlement of Earnout Interests Liability		0	364,788
Allocation of equity and non-controlling interests upon changes in RSILP ownership		3,450	8,757
Increase in accounts payable for property and equipment purchases		31	0
Supplemental disclosure of cash flow information:
Cash paid for income taxes		559	252
Cash paid for interest		$ 241	$ 28
[1]	Cash and cash equivalents and Restricted cash are each presented separately on the condensed consolidated balance sheets.

Description of Business

Description of Business	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	Description of Business Rush Street Interactive, Inc. is a holding company organized under the laws of the State of Delaware and, through its main operating subsidiary, Rush Street Interactive, LP and its subsidiaries (collectively, “RSILP”), is a leading online gaming company that provides online casino and sports betting in the U.S., Canadian and Latin American markets. Rush Street Interactive, Inc. and its subsidiaries (including RSILP) are collectively referred to as “RSI” or the “Company.” The Company is headquartered in Chicago, IL. On December 29, 2020, in connection with the closing (the “Closing”) and the transactions as described in the Business Combination Agreement, dated as of July 27, 2020, among RSILP, the sellers set forth on the signature pages thereto (collectively, the “Sellers” and each, a “Seller”), dMY Sponsor, LLC (the “Sponsor”) and Rush Street Interactive GP, LLC (as amended and/or restated from time to time, the “Business Combination Agreement” and the transactions contemplated thereby, the “Business Combination”), the Company was reorganized into an umbrella partnership-C corporation, or UP-C, structure, in which substantially all of the combined company’s assets are held by RSILP and the Company’s primary assets are its equity interests in RSILP (which are held indirectly through wholly owned subsidiaries of the Company – RSI ASLP, Inc. (the “Special Limited Partner”) and RSI GP, LLC (“RSI GP”), which is the general partner of RSILP). As of the Closing, the Company owned, indirectly through the Special Limited Partner, approximately 23.1% of the Class A Common Units of RSILP (“RSILP Units”) and controlled RSILP through RSI GP, and the Sellers owned approximately 76.9% of the RSILP Units and controlled the Company through their ownership of the Company’s Class V Common Stock, par value $0.0001 per share (the “Class V Common Stock”). Upon consummation of the Business Combination, dMY Technology Group, Inc. (“dMY”) changed its name to “Rush Street Interactive, Inc.” As of March 31, 2022, the Company and the Sellers owned approximately 29.08% and 70.92% of the RSILP Units, respectively. Impact of COVID-19 The COVID-19 pandemic has adversely impacted global commercial activity, disrupted supply chains and contributed to significant volatility in financial markets. Starting in 2020 and continuing through the date hereof, the COVID-19 pandemic continued to adversely impact many different industries. The ongoing COVID-19 pandemic could have a continued material adverse impact on economic and market conditions and trigger a period of global economic slowdown. The rapid development and fluidity of this situation precludes any prediction as to the extent and the duration of the impact of COVID-19. The COVID-19 pandemic therefore presents material uncertainty and risk with respect to the Company and its performance and could affect its financial results in a materially adverse way. The COVID-19 pandemic has significantly impacted RSI. The direct impact to the business, beyond disruptions in normal business operations, is primarily through the change in consumer habits as a result of people being ordered or requested to stay at home and restrict their traveling or otherwise voluntarily choosing to stay home or restrict travel. During the periods affected by government imposed stay-at-home orders, the Company’s business volume significantly increased and has since continued to remain strong as many of these orders were lifted. COVID-19 has also directly impacted sports betting due to the rescheduling, reconfiguring, suspension, postponement and cancellation of major sports seasons and sporting events or exclusion of certain players or teams from sporting events. Beginning in early 2020 and continuing into the third quarter of 2020, many sports seasons and sporting events, including the NBA regular season and playoffs, the NCAA college basketball tournament, the MLB regular season, the Masters golf tournament, the NHL regular season and playoffs and domestic soccer leagues and European cup competitions, were suspended, postponed, modified or cancelled. While most major professional sports leagues have since resumed their activities primarily starting in the second half of 2020, sporting events were still being impacted by the COVID-19 pandemic during the first quarter of 2022. For example, players are or were being excluded from certain games or events due to local COVID-19 vaccine requirements, COVID-19 or COVID-19 protocols. However, the Company has observed a trend where such local COVID-19 vaccine requirements and/or COVID-19 protocols are being eased or lifted. Sports seasons, events and calendars could be further suspended, cancelled or rescheduled due to additional COVID-19 outbreaks. The alteration of sports seasons and sporting events, including the postponement or cancellation of events, throughout fiscal year 2021 reduced the Company’s customers’ use of, and spending on, the Company’s sports betting offerings and from time to time caused us to issue refunds for canceled events. Additionally, any ongoing or future closures of bricks-and-mortar casinos and limitations on visitations to such casinos due to COVID-19 may provide additional opportunities for us to market online casino and sports betting to traditional bricks-and-mortar casino patrons. The Company’s revenues vary based on sports seasons and sporting events, among other factors, and cancellations, suspensions or alterations resulting from COVID-19 have the potential to adversely affect the Company’s revenue, possibly materially. However, the Company’s online casino offerings do not rely on sports seasons and sporting events, thus, they may partially offset this adverse impact on revenue. The ultimate impact of COVID-19 and the related restrictions on consumer behavior is currently unknown. A significant or prolonged decrease in consumer spending on entertainment or leisure activities would likely have an adverse effect on demand for RSI offerings, reducing cash flows and revenues, thus materially harming the business, financial condition and results of operations. In addition, a significant uptick in COVID-19 cases or an emergence of additional variants or strains could cause other widespread or more severe impacts depending on where infection rates are highest. As steps taken to mitigate the spread of COVID-19 have necessitated a shift away from a traditional office environment for many employees, the Company has implemented business continuity programs to help ensure that employees were safe and that the business continues to function with minimal disruptions to normal work operations while employees work remotely. The Company will continue to monitor developments relating to disruptions and uncertainties caused by COVID-19.

Summary of Significant Accounti

Summary of Significant Accounting Policies and Recent Accounting Pronouncements	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies and Recent Accounting Pronouncements	Summary of Significant Accounting Policies and Recent Accounting Pronouncements Basis of Presentation and Principles of Consolidation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) and the applicable regulations of the U.S. Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Certain information and note disclosures normally included in annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. Therefore, these unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the related notes thereto as of and for the year ended December 31, 2021 included in the Company’s Annual Report on Form 10-K, as filed with the SEC on March 7, 2022. These unaudited condensed consolidated financial statements include the accounts of the Company, its directly and indirectly wholly owned subsidiaries, and all entities in which the Company has a controlling interest. RSI is deemed to have a controlling interest of RSILP through its wholly owned subsidiary RSI GP, which is the sole general partner of RSILP. For consolidated entities that are less than wholly owned, third party holdings of equity interests are presented as Non-controlling interests in the Company’s condensed consolidated balance sheets and condensed consolidated statements of equity (deficit). The portion of net earnings attributable to the non-controlling interests is presented as Net loss attributable to non-controlling interests in the Company’s condensed consolidated statements of operations and condensed consolidated statements of comprehensive loss. All intercompany accounts and transactions have been eliminated upon consolidation. Pursuant to the Business Combination Agreement, the Business Combination was accounted for as a reverse recapitalization in accordance with U.S. GAAP (the “Reverse Recapitalization”). Under this method of accounting, dMY was treated as the acquired company and RSILP was treated as the acquirer for financial statement reporting purposes. Accordingly, for accounting purposes, the Reverse Recapitalization was treated as the equivalent of RSILP issuing equity for the net assets of dMY, accompanied by a recapitalization. RSILP was determined to be the accounting acquirer based on evaluation of the following facts and circumstances: • RSILP’s existing partners, through their ownership of the Class V Common Stock, had the largest portion of the voting rights in the Company; • The Company’s Board of Directors and management were primarily composed of individuals associated with RSILP; and • RSILP was the larger entity based on historical operating activity and had the larger employee base. Reclassifications Certain prior year amounts have been reclassified to conform to the current year presentation. Such reclassifications had no impact on the Company’s reported total revenues, expenses, net loss, current assets, total assets, current liabilities, total liabilities, stockholders’ equity (deficit), non-controlling interests or cash flows. No reclassifications of prior period balances were material to the condensed consolidated financial statements. Interim Unaudited Condensed Consolidated Financial Statements The accompanying condensed consolidated balance sheet as of March 31, 2022, the condensed consolidated statements of operations, comprehensive loss, changes in equity (deficit) and cash flows for the three months ended March 31, 2022 and 2021 are unaudited. The condensed consolidated balance sheet as of December 31, 2021 was derived from audited financial statements, but does not include all disclosures required by U.S. GAAP. The interim unaudited condensed consolidated financial statements have been prepared on a basis consistent with the annual consolidated financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary to state fairly the Company’s financial condition, its operations and cash flows for the periods presented. The historical results are not necessarily indicative of future results, and the results of operations for the three months ended March 31, 2022 are not necessarily indicative of the results to be expected for the full year. Use of Estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. Significant estimates and assumptions reflected in the condensed consolidated financial statements relate to and include, but are not limited to: the valuation of share-based awards; long-lived assets and investments in equity; the estimated useful lives of property, equipment, and intangible assets; redemption rate assumptions associated with the Company’s player loyalty program and other discretionary player bonuses; deferred revenue relating to the Company’s social gaming revenue stream; accrued expenses; determination of the incremental borrowing rate to calculate operating lease liabilities and finance lease liabilities; valuation of the earnout interests liability; valuation of the warrant liabilities; and deferred taxes and amounts associated with the Tax Receivable Agreement entered into in connection with the Business Combination (the “Tax Receivable Agreement”). Recent Accounting Pronouncements Not Yet Adopted In June 2016, the FASB issued Accounting Standards Update (“ASU”) 2016-13, Financial Instruments – Credit Losses (Topic 326) . Together with subsequent amendments, this ASU sets forth a “current expected credit loss” model, which requires the Company to measure all expected credit losses for financial instruments held at the reporting date based on historical experience, current conditions and reasonable supportable forecasts. This ASU replaces the existing incurred loss model and is applicable to the measurement of credit losses on financial assets measured at amortized cost, available-for-sale debt securities and applies to certain off-balance sheet credit exposures. This ASU is effective for the Company in calendar year 2023. The Company is currently assessing the impact of the adoption of this ASU on its condensed consolidated financial statements. In August 2020, the FASB issued ASU 2020-6, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity , which simplifies accounting for convertible instruments by removing major separation models required under current GAAP. This ASU removes certain settlement conditions that are required for equity contracts to qualify for the derivative scope exception, and it also simplifies the diluted earnings per share calculation in certain areas. This ASU is effective for the Company for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2021 and adoption must be as of the beginning of the Company’s annual fiscal year. The Company is currently evaluating the impact of this ASU on its condensed consolidated financial statements and related disclosures.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue RecognitionThe Company’s revenue from contracts with customers consists of online casino, online sports betting, retail sports betting and social gaming. Online casino and online sports betting Online casino offerings typically include the full suite of games available in land-based casinos, such as blackjack, roulette and slot machines. For these offerings, the Company generates revenue through hold, or gross winnings, as customers play against the house. Online casino revenue is generated based on total customer bets less amounts paid to customers for winning bets, less other incentives awarded to customers, plus or minus the change in the progressive jackpot liability. Online sports betting involves a user placing a bet on the outcome of a sporting event, or a series of sporting events, with the chance to win a pre-determined amount, often referred to as fixed odds. Online sports betting revenue is generated by setting odds such that there is a built-in theoretical margin in each bet offered to customers. Online sports betting revenue is generated based on total customer bets less amounts paid to customers for winning bets, less other incentives awarded to customers, plus or minus the change in unsettled bets. Retail sports betting The Company provides retail sports services to land-based partners in exchange for a monthly commission based on the land-based partner’s retail sportsbook revenue. Services generally include ongoing management and oversight of the retail sportsbook, technical support for the land-based partner’s customers, risk management, advertising and promotion, and support for the third-party vendor’s sports betting equipment. The Company has a single performance obligation to provide retail sports services and records the revenue as services are performed and when the commission amounts are no longer constrained (i.e., the amount is known). Certain relationships with business partners provide the Company the ability to operate the retail sportsbook. In this scenario, revenue is generated based on total customer bets less amounts paid to customers for winning bets, less other incentives awarded to customers, plus or minus the change in unsettled retail sports bets. Social gaming The Company provides a social gaming platform for users to enjoy free-to-play games that use virtual credits. While virtual credits are issued to users for free, some users may choose to purchase additional virtual credits through the Company’s virtual cashier. The Company has a single performance obligation associated with social gaming services, to provide social gaming services to users upon the redemption of virtual credits. Deferred revenue is recorded when users purchase virtual credits and revenue is recognized when the virtual credits are redeemed and the Company’s performance obligation has been fulfilled. Disaggregation of revenue for the three months ended March 31, 2022 and 2021, is as follows: Three Months Ended ($ in thousands) 2022 2021 Online casino and online sports betting $ 131,658 $ 109,978 Retail sports betting 2,330 627 Social gaming 950 1,215 Total revenue $ 134,938 $ 111,820 Revenue by geographic region for the three months ended March 31, 2022 and 2021, is as follows: Three Months Ended ($ in thousands) 2022 2021 United States $ 122,534 $ 105,303 Colombia 12,404 6,517 Total revenue $ 134,938 $ 111,820 Deferred revenue associated with online casino and online sports betting revenue and retail sports betting revenue includes unsettled customer bets and unredeemed customer incentives, and is included within Players’ liabilities in the condensed consolidated balance sheets. Deferred revenue associated with social gaming revenue includes unredeemed social gaming virtual credits and is included within Other current liabilities in the condensed consolidated balance sheets. The deferred revenue balances as of March 31, 2022 and December 31, 2021 were as follows: ($ in thousands) Deferred revenue balance at December 31, 2021 $ 4,637 Deferred revenue balance at March 31, 2022 $ 4,862 Revenue recognized in the period from amounts included in deferred revenue at December 31, 2021 $ 3,917

Intangible Assets, Net

Intangible Assets, Net	3 Months Ended
	Mar. 31, 2022
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Intangible Assets, Net	Intangible Assets, Net The Company has the following intangible assets, net as of March 31, 2022 and December 31, 2021: ($ in thousands) Weighted Gross Accumulated Net License Fees March 31, 2022 9.60 $ 50,007 $ (7,191) $ 42,816 December 31, 2021 8.61 $ 49,226 $ (5,582) $ 43,644 Internally Developed Software March 31, 2022 3.12 $ 5,491 $ (534) $ 4,957 December 31, 2021 2.96 $ 4,091 $ (286) $ 3,805 Developed Technology March 31, 2022 7.25 $ 5,931 $ (182) $ 5,749 December 31, 2021 8.00 $ 5,931 $ — $ 5,931 Amortization expense was $2.2 million for the three months ended March 31, 2022, compared to amortization expense of $0.5 million in the same period of 2021.

Accrued Expenses

Accrued Expenses	3 Months Ended
	Mar. 31, 2022
Payables and Accruals [Abstract]
Accrued Expenses	Accrued Expenses The Company has the following accrued expenses as of March 31, 2022 and December 31, 2021: ($ in thousands) March 31, December 31, Accrued compensation and related expenses $ 4,166 $ 6,038 Accrued operating expenses 25,090 15,955 Accrued marketing expenses 24,776 21,948 Accrued professional fees 2,128 1,753 Due to affiliates 279 1,005 Other 1,458 1,588 Total accrued expenses $ 57,897 $ 48,287

Warrant Liabilities

Warrant Liabilities	3 Months Ended
	Mar. 31, 2022
Warrants and Rights Note Disclosure [Abstract]
Warrant Liabilities	Warrant Liabilities As part of dMY’s initial public offering, dMY issued to third-party investors 23.0 million units, consisting of one share of dMY’s Class A common stock (“Class A Common Stock”) and one-half of one warrant, at a price of $10.00 per unit. Each whole warrant entitled the holder to purchase one share of Class A Common Stock at an exercise price of $11.50 per share (the “Public Warrants”). Simultaneously with the dMY initial public offering, 6,600,000 private placement warrants were sold to the Sponsor (the “Private Placement Warrants”) and an additional 75,000 warrants were issued to the Sponsor upon the Closing in connection with converting certain working capital loans into warrants (the “Working Capital Warrants” and together with the Private Placement Warrants, the “Private Warrants” and the Private Warrants together with the Public Warrants, the “Warrants”). Each Private Warrant allowed the Sponsor to purchase one share of Class A Common Stock at $11.50 per share. The Company classified the Warrants as derivative liabilities on its consolidated balance sheet at fair value as of each reporting date, with subsequent changes in their respective fair values recognized in its consolidated statement of operations and comprehensive loss. Public Warrants On February 22, 2021, the Company announced the redemption of all the Company’s Public Warrants, which were exercisable for an aggregate of approximately 11.5 million shares of Class A Common Stock at a price of $11.50 per share. During March 2021, 11,442,389 Public Warrants were exercised at a price of $11.50 per share, resulting in cash proceeds of approximately $131.6 million (of which $0.1 million was not received until April 2021) and the issuance of 11,442,389 shares of Class A Common Stock. None of the Public Warrants remained outstanding as of March 31, 2022 or December 31, 2021. The Company determined the fair value of its Public Warrants based on the publicly listed trading price of such warrants as of the valuation date. Accordingly, the Public Warrants were classified as Level 1 financial instruments. The aggregate fair value of the Public Warrants on the dates of exercise throughout March 2021 was $77.5 million. Private Warrants On March 26, 2021, the Private Warrants were exercised in full on a cashless basis, resulting in the issuance of 2,571,808 shares of Class A Common Stock. None of the Private Warrants remained outstanding as of March 31, 2022 or December 31, 2021. The estimated fair value of the Private Warrants was determined with Level 3 inputs using the Black-Scholes model. The significant inputs and assumptions in this method are the stock price, exercise price, volatility, risk-free rate, and term or maturity. The underlying stock price input is the closing stock price as of each valuation date and the exercise price is the price as stated in the warrant agreement. The volatility input was determined using the historical volatility of comparable publicly traded companies that operate in a similar industry or compete directly against the Company. Volatility for each comparable publicly traded company is calculated as the annualized standard deviation of daily continuously compounded returns. The Black-Scholes analysis is performed in a risk-neutral framework, which requires a risk-free rate assumption based upon constant-maturity treasury yields, which are interpolated based on the remaining term of the Private Warrants as of each valuation date. The term/maturity is the duration between each valuation date and the maturity date, which is five years following the Closing, or December 29, 2025. The Private Warrants were valued as of March 26, 2021 (i.e., the exercise date). The following table provides quantitative information regarding Level 3 fair value measurement inputs at their measurement dates: March 26, Exercise price $ 11.50 Stock price $ 15.96 Volatility 42.6% Term (years) 4.77 Risk-free interest rate 0.76% The fair value of the Private Warrants was $50.8 million as of March 26, 2021. The Company recorded $41.8 million to Change in fair value of warrant liabilities on the condensed consolidated statement of operations and comprehensive loss, representing the change in fair value of the Public Warrants and Private Warrants from December 31, 2020 through the respective dates of exercise. The following table summarizes the fair values of Warrant liabilities and change in fair value at each measurement date: Public Warrants (Level 1) Private Warrants (Level 3) Total Fair value of warrants at December 31, 2020 $ 88,079 $ 82,030 $ 170,109 Change in fair value of warrant liability (10,570) (31,232) (41,802) Fair value of warrants at redemption (77,509) (50,798) (128,307) Fair value of warrants at March 31, 2021 $ — $ — $ — (1) This amount represents the change in fair value of warrant liability, excluding the effect of $4.0 million of transactions costs incurred in connection with the issuance of the Warrants.

Earnout Interests Liability

Earnout Interests Liability	3 Months Ended
	Mar. 31, 2022
Earnout Interests Liability [Abstract]
Earnout Interests Liability	Earnout Interests Liability The earnout interests were subject to certain restrictions on transfer and voting and potential forfeiture pending the achievement of certain earnout targets. The earnout targets included (a) a change of control within three years of the Closing, (b) achieving certain revenue targets for the 2021 fiscal year, and (c) achieving certain volume weighted average share prices (“VWAPs”) within three years of the Closing. Earnout interests represented a freestanding financial instrument initially classified as liabilities on the accompanying condensed consolidated balance sheet as the Company determined that these financial instruments were not indexed to the Company’s own equity in accordance with ASC 815, Derivatives and Hedging . Earnout interests were initially recorded at fair value and were adjusted to fair value at each reporting date with changes in fair value recorded in Change in fair value of earnout interests liability in the consolidated statement of operations and comprehensive loss. On January 13, 2021, the earnout interests were fully earned and no longer subject to the applicable restrictions on transfer and voting because the VWAP exceeded $14.00 per share for 10 trading days within a 20 consecutive trading day period following the Closing. As a result, the earnout interests liability was reclassed to equity resulting in 1,212,813 shares of Class A Common Stock held by Darla Anderson, Francesca Luthi, Charles E. Wert and Sponsor and 15,000,000 shares of Class V Common Stock and RSILP Units issued to the Sellers (i.e., non-controlling interests) that were no longer subject to the applicable restrictions. The Company recorded $13.7 million to Change in fair value of earnout interests liability on the Condensed Consolidated Statement of Operations and Comprehensive Loss, representing the change in fair value of the earnout interests from December 31, 2020 through January 13, 2021 when the earnout interests were no longer subject to the restrictions. Earnout Interests Liability Total December 31, 2020 $ 351,048 Change in fair value of earnout interests liability 13,740 Settlement of earnout interests liability (364,788) March 31, 2021 $ —

Equity

Equity	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Equity	Equity Non-Controlling Interest The non-controlling interest represents the RSLIP Units held by holders other than the Company. The non-controlling interests owned 70.92% and 72.20% of the RSILP Units outstanding as of March 31, 2022 and December 31, 2021, respectively. The table below illustrates a rollforward of the non-controlling interest percentages during the three months ended March 31, 2022: Non-Controlling Interest % Non-controlling interest % as of December 31, 2021: 72.20 % Issuance of Class A Common Stock upon RSILP Unit Exchanges (1.28) % Non-controlling interest % as of March 31, 2022: 70.92 % The non-controlling interests owned 73.01% and 76.89% (which excluded the earnout interests that did not vest until January 2021) of the RSILP Units outstanding, as of March 31, 2021 and December 31, 2020, respectively. The table below illustrates a rollforward of the non-controlling interest percentages during the three months ended March 31, 2021: Non-Controlling Interest % Non-controlling interest % as of December 31, 2020: 76.89 % Issuance of RSILP units in connection with the vesting of earnout interest in January 2021 1.24 % Issuance of Class A Common Stock in connection with the exercise of the Warrants (4.98) % Repurchases of Class A Common Stock 0.08 % Issuance of Class A Common Stock in connection with the vesting of certain share-based equity grants (0.22) % Non-controlling interest % as of March 31, 2021: 73.01 % Treasury Stock During the three months ended March 31, 2021, the Company repurchased 218,589 shares of its Class A Common Stock at an average price of $15.85 and a total cost of $3.5 million. The repurchased shares were considered issued but not outstanding. The Company subsequently reissued the repurchased shares in connection with the issuance of shares under the 2020 Plan (as defined below) during the year ended December 31, 2021. No treasury shares remain outstanding as of March 31, 2022 or December 31, 2021.

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Share-Based Compensation	Share-Based Compensation The Company adopted the Rush Street Interactive, Inc. 2020 Omnibus Equity Incentive Plan, as amended from time to time (the “2020 Plan”), to attract, retain and incentivize employees, consultants and independent directors who will contribute to the success of the Company. Awards that may be granted under the 2020 Plan include incentive stock options, non-qualified stock options, stock appreciation rights, restricted awards, performance share awards, cash awards and other equity-based awards. Upon adoption of the 2020 Plan, there was an aggregate of 13.4 million shares of Class A Common Stock reserved under the 2020 Plan, which may consist of authorized and unissued shares, treasury shares or shares reacquired by the Company. The 2020 Plan will terminate on December 29, 2030. The Company granted 20.0 thousand and 3.6 million restricted stock units (“RSUs”) during the three months ended March 31, 2022 and 2021, respectively. The Company’s outstanding awards are based on service conditions and other awards that are based on market conditions. The grant date fair value of the awards with service conditions is determined based on the quoted market price, while the grant date fair value of the awards with market-based conditions is estimated using a Monte Carlo simulation. The Company granted no stock options during the three months ended March 31, 2022 and 2021. Previously granted stock options that remain outstanding as of March 31, 2022 were valued using a Black-Scholes valuation model. RSU and stock option activity for the three months ended March 31, 2022 and 2021 was as follows: RSUs Options Number of units Weighted-average Number of options Weighted-average Unvested balance at December 31, 2021 3,076,158 $ 16.08 96,827 $ 7.41 Granted 20,000 7.99 — — Vested — — — — Forfeited (6,000) 15.85 — — Unvested balance at March 31, 2022 3,090,158 $ 16.02 96,827 $ 7.41 RSUs Options Number of units Weighted average Number of options Weighted-average Unvested balance at December 31, 2020 — $ — — $ — Granted 3,647,504 15.85 — — Vested (719,479) 15.85 — — Forfeited — — — — Unvested balance at March 31, 2021 2,928,025 $ 15.85 — $ — The aggregate fair value of the RSUs granted during the three months ended March 31, 2022 and 2021, was approximately $0.2 million and $57.8 million, respectively. As of March 31, 2022, the Company had unrecognized stock-based compensation expense related to RSUs and stock options of approximately $43.9 million and $0.5 million, respectively, which is expected to be recognized over the remaining weighted-average vesting period of 3.2 years. The Company’s stock options outstanding as of March 31, 2022 have no intrinsic value. Share-based compensation expense for the three months ended March 31, 2022 and 2021 is as follows: Three Months Ended March 31, ($ in thousands) 2022 2021 Costs of revenue $ 244 $ 915 Advertising and promotions 505 1,698 General administration and other 3,188 8,963 Total share-based compensation expense $ 3,937 $ 11,576

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The income tax provision for the three months ended March 31, 2022 and 2021 is as follows: Three Months Ended March 31, 2022 ($ in thousands) 2022 2021 Income tax provision $ 2,002 $ 804 The Company recognized federal, state and foreign income tax expense of $2.0 million and $0.8 million during the three months ended March 31, 2022 and 2021, respectively. The effective tax rates for the three months ended March 31, 2022 and 2021 were (4)%, and 110%, respectively. The difference between the Company’s effective tax rate and the U.S. statutory tax rate of 21% was primarily due to a full valuation allowance recorded on the Company’s net U.S. deferred tax assets and income tax rate differences related to its foreign operations for which both current and deferred taxes are recorded. The Company evaluates the realizability of the deferred tax assets on a quarterly basis and establishes a valuation allowance when it is more likely than not that all or a portion of a deferred tax asset may not be realized. In connection with the Business Combination, the Special Limited Partner entered into the Tax Receivable Agreement, which generally provides for the payment by it of 85% of certain net tax benefits, if any, that the Company (including the Special Limited Partner) realize (or in certain cases is deemed to realize) as a result of an increase in tax basis and tax benefits related to the transactions contemplated under the Business Combination Agreement and the exchange of Retained RSILP Units (as defined in the Business Combination Agreement) for Class A Common Stock (or cash at the Company’s option) pursuant to RSILP’s amended and restated limited partnership agreement and tax benefits related to entering into the Tax Receivable Agreement, including tax benefits attributable to payments under the Tax Receivable Agreement. These payments are the obligation of the Special Limited Partner and not of RSILP. The actual increase in the Special Limited Partner’s allocable share of RSILP’s tax basis in its assets, as well as the amount and timing of any payments under the Tax Receivable Agreement, will vary depending upon a number of factors, including the timing of exchanges, the market price of our Class A Common Stock at the time of the exchange and the amount and timing of the recognition of RSI and its consolidated subsidiaries’ (including the Special Limited Partner’s) income. Based primarily on historical losses of RSILP, management has determined it is more-likely-than-not that the Company will be unable to utilize its deferred tax assets subject to the Tax Receivable Agreement; therefore, management applies a full valuation allowance to deferred tax asset or a corresponding liability under the Tax Receivable Agreement related to the tax savings the Company may realize from the utilization of tax deductions related to basis adjustments created by the transactions in the Business Combination Agreement. The unrecognized Tax Receivable Agreement liability as of March 31, 2022 and December 31, 2021 is $52.6 million and $46.2 million, respectively. The increase in the liability is primarily due to the issuance of Class A Common Stock upon RSILP unit exchanges. Due to the fact that the Company's deferred tax assets and corresponding Tax Receivable Agreement liability are unrecognized, this decrease had no impact on the condensed consolidated statement of operations and comprehensive loss.

Loss Per Share

Loss Per Share	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Loss Per Share	Loss Per Share The basic and diluted loss per share for the three months ended March 31, 2022 and 2021 are as follows (amounts in thousands, except for share and per share amounts): Three Months Ended March 31, 2022 2021 Numerator: Net loss $ (52,270) $ (76) Less: Net loss attributable to non-controlling interests (37,573) (59) Net loss attributable to Rush Street Interactive, Inc. – basic $ (14,697) $ (17) Effect of dilutive securities: Warrants, net of amounts attributable to non-controlling interests — (9,569) Net loss attributable to Rush Street Interactive, Inc. – diluted $ (14,697) $ (9,586) Denominator: Weighted average common shares outstanding – basic 61,800,359 46,955,262 Weighted average effect of dilutive securities: Public Warrants (1) — 3,770,106 Private Placement and Working Capital Warrants (1) — 2,690,120 Weighted average common shares outstanding – diluted 61,800,359 53,415,488 Net loss per Class A common share – basic $ (0.24) $ — Net loss per Class A common share – diluted $ (0.24) $ (0.18) _____________________________________ (1) Calculated using the treasury stock method. The Class V Common Stock does not participate in the Company’s earnings or losses and is therefore not a participating security. As such, separate presentation of basic and diluted earnings per share of Class V Common Stock under the two-class method has not been presented. The Company excluded the following securities from its computation of diluted shares outstanding, as their effect would have been anti-dilutive: Three Months Ended March 31, 2022 2021 RSILP Units (1) 155,893,584 160,000,000 Unvested Restricted Stock Units 3,090,158 2,928,025 Unvested Stock Options 96,827 N/A _____________________________________ (1) These RSILP Units are held by the Sellers pursuant to the Business Combination, and may be exchanged, subject to certain restrictions, for Class A Common Stock. Upon exchange of an RSILP Unit, a share of Class V Common Stock is cancelled.

Related Parties

Related Parties	3 Months Ended
	Mar. 31, 2022
Related Party Transactions [Abstract]
Related Parties	Related Parties Services Agreement At the Closing, Rush Street Gaming, LLC (“RSG”), a current affiliate of the Company controlled by Neil Bluhm, Executive Chairman, and also formerly controlled through May 1, 2022, by Greg Carlin, the Company’s former Chief Executive Officer and former vice chairman, entered into a Services Agreement (the “Services Agreement”), pursuant to which, among other things, RSG or certain of its affiliates provide certain specified services to the Company for a period of two years following the Closing, subject to extension and early termination, including, without limitation, certain services such as government affairs, certain business development, insurance and other services (in each case as more fully described in the Services Agreement). RSG and its affiliates had provided similar services to RSILP prior to the Business Combination and the Services Agreement represents a continuation of those services and support. As compensation for the provision of these services, the Company reimburses RSG and its affiliates for (i) all third-party costs, including fees and costs incurred in connection with any required consents, incurred in connection with the provision of services, (ii) its reasonable and documented out-of-pocket travel and related expenses as approved by the Company, and (iii) an allocable portion of payroll, benefits and overhead (calculated at 150% of an employee’s salary, bonus and benefits cost) with respect to RSG’s or its affiliates’ employees who perform or otherwise assist in providing the services. Expenses relating to support services were $0.2 million and $0.3 million for the three months ended March 31, 2022 and 2021, respectively. Payables due to RSG for support services were $0.2 million and $0.1 million at March 31, 2022 and December 31, 2021, respectively. These support services are recorded as General administration and other in the accompanying condensed consolidated statements of operations and comprehensive loss and any payables to RSG are recorded as Accrued expenses within the accompanying condensed consolidated balance sheets. Affiliated Land-Based Casinos Neil Bluhm and his adult children (including Ms. Leslie Bluhm), through their individual capacities, entities or trusts that they have created for the benefit of themselves or their family members, and Greg Carlin, through his individual capacity, entities or trusts that he has created for the benefit of himself or his family members, are direct or indirect owners, directors and/or officers of certain land-based casinos. The Company has entered into certain agreements with these affiliated land-based casinos that create strategic partnerships aimed to capture the online gaming, online sports betting and retail sports services markets in the various states and municipalities where the land-based casinos operate. Generally, the Company pays a royalty fee to the land-based casino (calculated as a percentage of the Company’s revenue less reimbursable costs as defined in the applicable agreement) in exchange for the right to operate real-money online casino and/or online sports betting and social gaming under the gaming license of the land-based casinos. Royalties related to arrangements with affiliated casinos were $9.5 million and $12.8 million for the three months ended March 31, 2022 and 2021, respectively, which were net of any consideration received from the affiliated casino for reimbursable costs, as well as costs that are paid directly by the affiliate casino on the Company’s behalf. Net royalties paid are recorded as Costs of revenue in the accompanying condensed consolidated statements of operations and comprehensive loss. In certain cases, the affiliate casino maintains the bank account that processes cash deposits and withdrawals for RSI customers. Accordingly, at any point in time, the Company will record a receivable from the affiliate, representing RSI total gaming revenue (with RSI customers) that was collected by the affiliate, less consideration payable to the affiliate for use of its license, which is offset by any consideration received from the affiliate based on the terms of the applicable agreement. Receivables due from affiliate land-based casinos were $30.8 million and $28.2 million at March 31, 2022 and December 31, 2021, respectively. In addition, the Company provides retail sports services to certain affiliated land-based casinos in exchange for a monthly commission based on the land-based casino’s retail sportsbook revenue. Services generally include ongoing management and oversight of the retail sportsbook, technical support for the land-based casino’s customers, risk management, advertising and promotion, and support for the third-party vendor’s sports betting equipment. Revenue recognized relating to retail sports services provided to affiliated land-based casinos for the three months ended March 31, 2022 and 2021 were not material to the condensed consolidated financial statements. Any payables due to the affiliated land-based casinos are netted against affiliate receivables to the extent a right of offset exists and were not material to the condensed consolidated financial statements as of March 31, 2022 or December 31, 2021.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal Matters The Company is not a party to any material legal proceedings and is not aware of any pending or threatened claims except as noted below. From time to time however, the Company may be subject to various legal proceedings and claims that arise in the ordinary course of its business activities. A complaint in a case Todd L. Anderson. vs. Rush Street Gaming, LLC and Rush Street Interactive, LLC , Case Number # 120CV04794 that was filed in the United States District Court for the Northern District of Illinois was served on the Company on August 18, 2020 and was subsequently amended and served on the Company on September 15, 2020. The amended complaint alleges that Todd Anderson was offered a 1% equity stake in RSILP in 2012 that was never issued and asserts breach of contract, promissory estoppel, constructive fraud, conversion, breach of fiduciary duty, and unjust enrichment. On October 13, 2020, RSILP filed a motion to dismiss all the alleged claims asserted in the complaint. On September 28, 2021, the court entered an order granting in part and denying in part RSILP's motion to dismiss, dismissing Mr. Anderson’s constructive fraud, breach of fiduciary duty and unjust enrichment claims, but allowing his remaining claims to proceed. On October 19, 2021, RSILP filed an answer to the amended complaint. The Company believes it has multiple defenses against the remaining claims and has defended the case as such. The potential result is not able to be estimated and, therefore, the Company has not recorded a loss or related accrual on its condensed consolidated financial statements related to this matter. Other Contractual Obligations The Company is a party to several non-cancelable contracts with vendors and licensors for marketing and other strategic partnership related agreements where the Company is obligated to make future minimum payments under the non-cancelable terms of these contracts as follows ($ in thousands): Remainder of 2022 $ 24,680 Year ending December 31, 2023 13,822 Year ending December 31, 2024 6,471 Year ending December 31, 2025 3,013 Year ending December 31, 2026 3,595 Thereafter 12,812 Total (1) $ 64,393 _____________________________________ (1) Includes operating lease and finance lease obligations under non-cancelable lease contracts totaling $2.2 million, obligations under non-cancelable contracts with marketing vendors totaling $28.5 million, and license and market access commitments totaling $33.7 million. Certain market access arrangements require the Company to make additional payments at a contractual milestone date if the market access fees paid up until that milestone date do not meet a minimum contractual threshold. In these instances, the Company calculates the future minimum payment as the total milestone payment less any amounts already paid to the Partner and includes such payments in the period in which the milestone date occurs.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies and Recent Accounting Pronouncements (Policies)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation and Interim Unaudited Condensed Consolidated Financial Statements	Basis of Presentation and Principles of Consolidation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) and the applicable regulations of the U.S. Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Certain information and note disclosures normally included in annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. Therefore, these unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the related notes thereto as of and for the year ended December 31, 2021 included in the Company’s Annual Report on Form 10-K, as filed with the SEC on March 7, 2022. These unaudited condensed consolidated financial statements include the accounts of the Company, its directly and indirectly wholly owned subsidiaries, and all entities in which the Company has a controlling interest. RSI is deemed to have a controlling interest of RSILP through its wholly owned subsidiary RSI GP, which is the sole general partner of RSILP. For consolidated entities that are less than wholly owned, third party holdings of equity interests are presented as Non-controlling interests in the Company’s condensed consolidated balance sheets and condensed consolidated statements of equity (deficit). The portion of net earnings attributable to the non-controlling interests is presented as Net loss attributable to non-controlling interests in the Company’s condensed consolidated statements of operations and condensed consolidated statements of comprehensive loss. All intercompany accounts and transactions have been eliminated upon consolidation. Pursuant to the Business Combination Agreement, the Business Combination was accounted for as a reverse recapitalization in accordance with U.S. GAAP (the “Reverse Recapitalization”). Under this method of accounting, dMY was treated as the acquired company and RSILP was treated as the acquirer for financial statement reporting purposes. Accordingly, for accounting purposes, the Reverse Recapitalization was treated as the equivalent of RSILP issuing equity for the net assets of dMY, accompanied by a recapitalization. RSILP was determined to be the accounting acquirer based on evaluation of the following facts and circumstances: • RSILP’s existing partners, through their ownership of the Class V Common Stock, had the largest portion of the voting rights in the Company; • The Company’s Board of Directors and management were primarily composed of individuals associated with RSILP; and • RSILP was the larger entity based on historical operating activity and had the larger employee base.
Reclassifications	Reclassifications Certain prior year amounts have been reclassified to conform to the current year presentation. Such reclassifications had no impact on the Company’s reported total revenues, expenses, net loss, current assets, total assets, current liabilities,
Use of Estimates	Use of Estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. Significant estimates and assumptions reflected in the condensed consolidated financial statements relate to and include, but are not limited to: the valuation of share-based awards; long-lived assets and investments in equity; the estimated useful lives of property, equipment, and intangible assets; redemption rate assumptions associated with the Company’s player loyalty program and other discretionary player bonuses; deferred revenue relating to the Company’s social gaming revenue stream; accrued expenses; determination of the incremental borrowing rate to calculate operating lease liabilities and finance lease liabilities; valuation of the earnout interests liability; valuation of the warrant liabilities; and deferred taxes and amounts associated with the Tax Receivable Agreement entered into in connection with the Business Combination (the “Tax Receivable Agreement”).
Recent Accounting Pronouncements Not Yet Adopted	Recent Accounting Pronouncements Not Yet Adopted In June 2016, the FASB issued Accounting Standards Update (“ASU”) 2016-13, Financial Instruments – Credit Losses (Topic 326) . Together with subsequent amendments, this ASU sets forth a “current expected credit loss” model, which requires the Company to measure all expected credit losses for financial instruments held at the reporting date based on historical experience, current conditions and reasonable supportable forecasts. This ASU replaces the existing incurred loss model and is applicable to the measurement of credit losses on financial assets measured at amortized cost, available-for-sale debt securities and applies to certain off-balance sheet credit exposures. This ASU is effective for the Company in calendar year 2023. The Company is currently assessing the impact of the adoption of this ASU on its condensed consolidated financial statements. In August 2020, the FASB issued ASU 2020-6, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity , which simplifies accounting for convertible instruments by removing major separation models required under current GAAP. This ASU removes certain settlement conditions that are required for equity contracts to qualify for the derivative scope exception, and it also simplifies the diluted earnings per share calculation in certain areas. This ASU is effective for the Company for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2021 and adoption must be as of the beginning of the Company’s annual fiscal year. The Company is currently evaluating the impact of this ASU on its condensed consolidated financial statements and related disclosures.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Summary of Disaggregation of Revenue	Disaggregation of revenue for the three months ended March 31, 2022 and 2021, is as follows: Three Months Ended ($ in thousands) 2022 2021 Online casino and online sports betting $ 131,658 $ 109,978 Retail sports betting 2,330 627 Social gaming 950 1,215 Total revenue $ 134,938 $ 111,820
Summary of Revenue by Geographic Region	Revenue by geographic region for the three months ended March 31, 2022 and 2021, is as follows: Three Months Ended ($ in thousands) 2022 2021 United States $ 122,534 $ 105,303 Colombia 12,404 6,517 Total revenue $ 134,938 $ 111,820
Summary of Deferred Revenue	The deferred revenue balances as of March 31, 2022 and December 31, 2021 were as follows: ($ in thousands) Deferred revenue balance at December 31, 2021 $ 4,637 Deferred revenue balance at March 31, 2022 $ 4,862 Revenue recognized in the period from amounts included in deferred revenue at December 31, 2021 $ 3,917

Intangible Assets, Net (Tables)

Intangible Assets, Net (Tables)	3 Months Ended
	Mar. 31, 2022
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Schedule of Intangible Assets, Net	The Company has the following intangible assets, net as of March 31, 2022 and December 31, 2021: ($ in thousands) Weighted Gross Accumulated Net License Fees March 31, 2022 9.60 $ 50,007 $ (7,191) $ 42,816 December 31, 2021 8.61 $ 49,226 $ (5,582) $ 43,644 Internally Developed Software March 31, 2022 3.12 $ 5,491 $ (534) $ 4,957 December 31, 2021 2.96 $ 4,091 $ (286) $ 3,805 Developed Technology March 31, 2022 7.25 $ 5,931 $ (182) $ 5,749 December 31, 2021 8.00 $ 5,931 $ — $ 5,931

Accrued Expenses (Tables)

Accrued Expenses (Tables)	3 Months Ended
	Mar. 31, 2022
Payables and Accruals [Abstract]
Schedule of Accrued Expenses	The Company has the following accrued expenses as of March 31, 2022 and December 31, 2021: ($ in thousands) March 31, December 31, Accrued compensation and related expenses $ 4,166 $ 6,038 Accrued operating expenses 25,090 15,955 Accrued marketing expenses 24,776 21,948 Accrued professional fees 2,128 1,753 Due to affiliates 279 1,005 Other 1,458 1,588 Total accrued expenses $ 57,897 $ 48,287

Warrant Liabilities (Tables)

Warrant Liabilities (Tables)	3 Months Ended
	Mar. 31, 2022
Warrants and Rights Note Disclosure [Abstract]
Schedule of Level 3 Fair Value Measurement Inputs	The following table provides quantitative information regarding Level 3 fair value measurement inputs at their measurement dates: March 26, Exercise price $ 11.50 Stock price $ 15.96 Volatility 42.6% Term (years) 4.77 Risk-free interest rate 0.76%
Schedule of Fair Values of Warrant Liabilities	The following table summarizes the fair values of Warrant liabilities and change in fair value at each measurement date: Public Warrants (Level 1) Private Warrants (Level 3) Total Fair value of warrants at December 31, 2020 $ 88,079 $ 82,030 $ 170,109 Change in fair value of warrant liability (10,570) (31,232) (41,802) Fair value of warrants at redemption (77,509) (50,798) (128,307) Fair value of warrants at March 31, 2021 $ — $ — $ — (1) This amount represents the change in fair value of warrant liability, excluding the effect of $4.0 million of transactions costs incurred in connection with the issuance of the Warrants.

Earnout Interests Liability (Ta

Earnout Interests Liability (Tables)	3 Months Ended
	Mar. 31, 2022
Earnout Interests Liability [Abstract]
Schedule Of Earnout Interests Liability, Activity	Earnout Interests Liability Total December 31, 2020 $ 351,048 Change in fair value of earnout interests liability 13,740 Settlement of earnout interests liability (364,788) March 31, 2021 $ —

Equity (Tables)

Equity (Tables)	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Schedule of Noncontrolling Interests	The table below illustrates a rollforward of the non-controlling interest percentages during the three months ended March 31, 2022: Non-Controlling Interest % Non-controlling interest % as of December 31, 2021: 72.20 % Issuance of Class A Common Stock upon RSILP Unit Exchanges (1.28) % Non-controlling interest % as of March 31, 2022: 70.92 % The non-controlling interests owned 73.01% and 76.89% (which excluded the earnout interests that did not vest until January 2021) of the RSILP Units outstanding, as of March 31, 2021 and December 31, 2020, respectively. The table below illustrates a rollforward of the non-controlling interest percentages during the three months ended March 31, 2021: Non-Controlling Interest % Non-controlling interest % as of December 31, 2020: 76.89 % Issuance of RSILP units in connection with the vesting of earnout interest in January 2021 1.24 % Issuance of Class A Common Stock in connection with the exercise of the Warrants (4.98) % Repurchases of Class A Common Stock 0.08 % Issuance of Class A Common Stock in connection with the vesting of certain share-based equity grants (0.22) % Non-controlling interest % as of March 31, 2021: 73.01 %

Share-Based Compensation (Table

Share-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Schedule of Restricted Stock Unit Activity	RSU and stock option activity for the three months ended March 31, 2022 and 2021 was as follows: RSUs Options Number of units Weighted-average Number of options Weighted-average Unvested balance at December 31, 2021 3,076,158 $ 16.08 96,827 $ 7.41 Granted 20,000 7.99 — — Vested — — — — Forfeited (6,000) 15.85 — — Unvested balance at March 31, 2022 3,090,158 $ 16.02 96,827 $ 7.41 RSUs Options Number of units Weighted average Number of options Weighted-average Unvested balance at December 31, 2020 — $ — — $ — Granted 3,647,504 15.85 — — Vested (719,479) 15.85 — — Forfeited — — — — Unvested balance at March 31, 2021 2,928,025 $ 15.85 — $ —
Schedule of Stock Option Activity	RSU and stock option activity for the three months ended March 31, 2022 and 2021 was as follows: RSUs Options Number of units Weighted-average Number of options Weighted-average Unvested balance at December 31, 2021 3,076,158 $ 16.08 96,827 $ 7.41 Granted 20,000 7.99 — — Vested — — — — Forfeited (6,000) 15.85 — — Unvested balance at March 31, 2022 3,090,158 $ 16.02 96,827 $ 7.41 RSUs Options Number of units Weighted average Number of options Weighted-average Unvested balance at December 31, 2020 — $ — — $ — Granted 3,647,504 15.85 — — Vested (719,479) 15.85 — — Forfeited — — — — Unvested balance at March 31, 2021 2,928,025 $ 15.85 — $ —
Schedule of Share-based Compensation Expense	Share-based compensation expense for the three months ended March 31, 2022 and 2021 is as follows: Three Months Ended March 31, ($ in thousands) 2022 2021 Costs of revenue $ 244 $ 915 Advertising and promotions 505 1,698 General administration and other 3,188 8,963 Total share-based compensation expense $ 3,937 $ 11,576

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Schedule of Income Tax Provision	The income tax provision for the three months ended March 31, 2022 and 2021 is as follows: Three Months Ended March 31, 2022 ($ in thousands) 2022 2021 Income tax provision $ 2,002 $ 804

Loss Per Share (Tables)

Loss Per Share (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Loss per Share	The basic and diluted loss per share for the three months ended March 31, 2022 and 2021 are as follows (amounts in thousands, except for share and per share amounts): Three Months Ended March 31, 2022 2021 Numerator: Net loss $ (52,270) $ (76) Less: Net loss attributable to non-controlling interests (37,573) (59) Net loss attributable to Rush Street Interactive, Inc. – basic $ (14,697) $ (17) Effect of dilutive securities: Warrants, net of amounts attributable to non-controlling interests — (9,569) Net loss attributable to Rush Street Interactive, Inc. – diluted $ (14,697) $ (9,586) Denominator: Weighted average common shares outstanding – basic 61,800,359 46,955,262 Weighted average effect of dilutive securities: Public Warrants (1) — 3,770,106 Private Placement and Working Capital Warrants (1) — 2,690,120 Weighted average common shares outstanding – diluted 61,800,359 53,415,488 Net loss per Class A common share – basic $ (0.24) $ — Net loss per Class A common share – diluted $ (0.24) $ (0.18) _____________________________________ (1) Calculated using the treasury stock method.
Schedule of Anti-dilutive Securities Excluded from Computation of Diluted Shares Outstanding	The Company excluded the following securities from its computation of diluted shares outstanding, as their effect would have been anti-dilutive: Three Months Ended March 31, 2022 2021 RSILP Units (1) 155,893,584 160,000,000 Unvested Restricted Stock Units 3,090,158 2,928,025 Unvested Stock Options 96,827 N/A _____________________________________ (1) These RSILP Units are held by the Sellers pursuant to the Business Combination, and may be exchanged, subject to certain restrictions, for Class A Common Stock. Upon exchange of an RSILP Unit, a share of Class V Common Stock is cancelled.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Payments Under Non-cancelable Terms of Contracts	The Company is a party to several non-cancelable contracts with vendors and licensors for marketing and other strategic partnership related agreements where the Company is obligated to make future minimum payments under the non-cancelable terms of these contracts as follows ($ in thousands): Remainder of 2022 $ 24,680 Year ending December 31, 2023 13,822 Year ending December 31, 2024 6,471 Year ending December 31, 2025 3,013 Year ending December 31, 2026 3,595 Thereafter 12,812 Total (1) $ 64,393 _____________________________________ (1) Includes operating lease and finance lease obligations under non-cancelable lease contracts totaling $2.2 million, obligations under non-cancelable contracts with marketing vendors totaling $28.5 million, and license and market access commitments totaling $33.7 million. Certain market access arrangements require the Company to make additional payments at a contractual milestone date if the market access fees paid up until that milestone date do not meet a minimum contractual threshold. In these instances, the Company calculates the future minimum payment as the total milestone payment less any amounts already paid to the Partner and includes such payments in the period in which the milestone date occurs.

Description of Business (Detail

Description of Business (Details)	Mar. 31, 2022$ / shares	Dec. 31, 2021$ / shares	Mar. 31, 2021	Dec. 31, 2020	Dec. 29, 2020
Class V Common Stock
Description of Business
Common stock, par value (in USD per share)	$ 0.0001	$ 0.0001
RSILP Acquisition
Description of Business
Percentage of common units acquired	29.08%
RSILP | Owners Other Than Rush Street Interactive
Description of Business
Percentage of common units retained by sellers	70.92%	72.20%	73.01%	76.89%
RSILP | Special Limited Partner
Description of Business
Ownership Percentage by Controlling Owners					0.231
RSILP | Class V Common Stock | Owners Other Than Rush Street Interactive
Description of Business
Percentage of common units retained by sellers					76.90%

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Disaggregation of Revenue [Line Items]
Total revenue	$ 134,938	$ 111,820
Online casino and online sports betting
Disaggregation of Revenue [Line Items]
Total revenue	131,658	109,978
Retail sports betting
Disaggregation of Revenue [Line Items]
Total revenue	2,330	627
Social gaming
Disaggregation of Revenue [Line Items]
Total revenue	$ 950	$ 1,215

Revenue Recognition - Revenue b

Revenue Recognition - Revenue by Geographic Region (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Disaggregation of Revenue [Line Items]
Total revenue	$ 134,938	$ 111,820
United States
Disaggregation of Revenue [Line Items]
Total revenue	122,534	105,303
Colombia
Disaggregation of Revenue [Line Items]
Total revenue	$ 12,404	$ 6,517

Revenue Recognition - Deferred

Revenue Recognition - Deferred revenue (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)
Revenue from Contract with Customer [Abstract]
Deferred revenue balance at December 31, 2021	$ 4,637
Deferred revenue balance at March 31, 2022	4,862
Revenue recognized in the period from amounts included in deferred revenue at December 31, 2021	$ 3,917

Intangible Assets, Net (Details

Intangible Assets, Net (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Net	$ 53,522		$ 53,380
Amortization expense	$ 2,200	$ 500
License Fees
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Amortization Period (years)	9 years 7 months 6 days		8 years 7 months 9 days
Gross Carrying Amount	$ 50,007		$ 49,226
Accumulated Amortization	(7,191)		(5,582)
Net	$ 42,816		$ 43,644
Internally Developed Software
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Amortization Period (years)	3 years 1 month 13 days		2 years 11 months 15 days
Gross Carrying Amount	$ 5,491		$ 4,091
Accumulated Amortization	(534)		(286)
Net	$ 4,957		$ 3,805
Developed Technology
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Amortization Period (years)	7 years 3 months		8 years
Gross Carrying Amount	$ 5,931		$ 5,931
Accumulated Amortization	(182)		0
Net	$ 5,749		$ 5,931

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Accrued compensation and related expenses	$ 4,166	$ 6,038
Accrued operating expenses	25,090	15,955
Accrued marketing expenses	24,776	21,948
Accrued professional fees	2,128	1,753
Due to affiliates	279	1,005
Other	1,458	1,588
Total accrued expenses	$ 57,897	$ 48,287

Warrant Liabilities - Narrative

Warrant Liabilities - Narrative (Details) $ / shares in Units, $ in Thousands	Mar. 26, 2021USD ($)shares	Jan. 13, 2021shares	Dec. 29, 2020$ / sharesshares	Apr. 30, 2021USD ($)	Mar. 31, 2022USD ($)shares	Mar. 31, 2021USD ($)$ / sharesshares	Dec. 31, 2021shares	Feb. 22, 2021$ / sharesshares	Dec. 31, 2020USD ($)
Class of Warrant or Right [Line Items]
Fair value of warrants redeemed						$ 128,307
Fair value of private warrants						0			$ 170,109
Change in fair value of warrant liabilities	$ 41,800				$ 0	$ 41,802
Class A Common Stock
Class of Warrant or Right [Line Items]
Shares issued during period (in shares) | shares	2,571,808	1,212,813			11,442,389
Class A Common Stock | Public Warrant Holder
Class of Warrant or Right [Line Items]
Number of shares issuable per warrant (in shares) | shares			1					11,500,000
Share price (in USD per share) | $ / shares			$ 11.50					$ 11.50
Class A Common Stock | Private Warrant Holder
Class of Warrant or Right [Line Items]
Number of shares issuable per warrant (in shares) | shares			1
Share price (in USD per share) | $ / shares			$ 11.50
Public Warrants
Class of Warrant or Right [Line Items]
Warrants exercised (in shares) | shares						11,442,389
Exercise price (in USD per share) | $ / shares						$ 11.50
Cash proceeds from warrants exercised				$ 100		$ 131,600
Warrants outstanding (in shares) | shares					0		0
Public Warrants | Level 1
Class of Warrant or Right [Line Items]
Fair value of warrants redeemed						77,509
Fair value of private warrants						0			88,079
Change in fair value of warrant liabilities						10,570
Private Warrants
Class of Warrant or Right [Line Items]
Warrants outstanding (in shares) | shares					0		0
Warrants term					5 years
Private Warrants | Level 3
Class of Warrant or Right [Line Items]
Fair value of warrants redeemed						50,798
Fair value of private warrants	$ 50,800					0			$ 82,030
Change in fair value of warrant liabilities						$ 31,232
IPO | dMY
Class of Warrant or Right [Line Items]
Number of units issued (in shares) | shares			23,000,000
Price per unit (in USD per share) | $ / shares			$ 10
IPO | dMY | Class A Common Stock
Class of Warrant or Right [Line Items]
Conversion ratio			1
IPO | dMY | Warrant
Class of Warrant or Right [Line Items]
Conversion ratio			0.5
Private Placement | dMY | Warrant
Class of Warrant or Right [Line Items]
Number of units issued (in shares) | shares			75,000
Private Placement | Private Warrants | dMY
Class of Warrant or Right [Line Items]
Number of units issued (in shares) | shares			6,600,000

Warrant Liabilities - Schedule

Warrant Liabilities - Schedule of Level 3 Inputs (Details - Level 3 - Private Warrants	Mar. 26, 2021$ / sharesyr
Exercise price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	11.50
Stock price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	15.96
Volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.426
Term (years)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input | yr	4.77
Risk-free interest rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0076

Warrant Liabilities - Schedul_2

Warrant Liabilities - Schedule of Fair Values of Warrant Liabilities (Details) - USD ($) $ in Thousands	Mar. 26, 2021	Mar. 31, 2022	Mar. 31, 2021
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value of warrants at December 31, 2020			$ 170,109
Change in fair value of warrant liability	$ (41,800)	$ 0	(41,802)
Fair value of warrants at redemption			(128,307)
Fair value of warrants at March 31, 2021			0
Transaction costs incurred in the issuance of warrants		$ 4,000
Public Warrants | Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value of warrants at December 31, 2020			88,079
Change in fair value of warrant liability			(10,570)
Fair value of warrants at redemption			(77,509)
Fair value of warrants at March 31, 2021			0
Private Warrants | Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value of warrants at December 31, 2020			82,030
Change in fair value of warrant liability			(31,232)
Fair value of warrants at redemption			(50,798)
Fair value of warrants at March 31, 2021	$ 50,800		$ 0

Earnout Interests Liability - N

Earnout Interests Liability - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	Mar. 26, 2021	Jan. 13, 2021	Mar. 31, 2022	Mar. 31, 2021
Earnout Interests Liability [Line items]
VWAP exceeded by company (in USD per share)		$ 14
Number of trading days to calculate VWAPs		10 days
Number of consecutive trading days to calculate VWAPs		20 days
Change in fair value of earnout interests liability			$ 0	$ 13,740
Class A Common Stock
Earnout Interests Liability [Line items]
Shares issued during period (in shares)	2,571,808	1,212,813	11,442,389
Class V Common Stock
Earnout Interests Liability [Line items]
Shares issued during period (in shares)		15,000,000

Earnout Interests Liability - S

Earnout Interests Liability - Schedule of Activity (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Earnout Interests Liability [Abstract]
December 31, 2020		$ 351,048
Change in fair value of earnout interests liability	$ 0	13,740
Settlement of earnout interests liability		(364,788)
March 31, 2021		$ 0

Equity - Narrative (Details)

Equity - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Class of Stock [Line Items]
Treasury stock (in shares)	0	0
Class A Common Stock
Class of Stock [Line Items]
Treasury stock repurchased (in shares)	218,589
Average price of treasury stock repurchased (in USD per share)	$ 15.85
Total cost of treasury stock repurchased	$ 3.5
RSILP | Owners Other Than Rush Street Interactive
Class of Stock [Line Items]
Percentage of common units retained by sellers	70.92%	72.20%	73.01%	76.89%

Equity - Schedule of Noncontrol

Equity - Schedule of Noncontrolling Interests (Details) - RSILP - Owners Other Than Rush Street Interactive	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Noncontrolling Interest [Roll Forward]
Non-controlling interest percentage at beginning of period	72.20%	76.89%
Issuance of Class A Common Stock upon RSILP Unit Exchanges	(1.28%)	1.24%
Issuance of Class A Common Stock in connection with the exercise of the Warrants		(4.98%)
Repurchases of Class A Common Stock		0.08%
Issuance of Class A Common Stock in connection with the vesting of certain share-based equity grants		(0.22%)
Non-controlling interest percentage at end of period	70.92%	73.01%

Share-Based Compensation - Narr

Share-Based Compensation - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted (in shares)	0	0
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units granted (in shares)	20,000	3,647,504
Aggregate fair value of units granted	$ 0.2	$ 57.8
Unrecognized stock-based compensation expense	$ 43.9
Weighted-average vesting period of unrecognized stock-based compensation expense	3 years 2 months 12 days
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation expense	$ 0.5
Weighted-average vesting period of unrecognized stock-based compensation expense	3 years 2 months 12 days
Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate number of shares reserved under equity incentive plan (in shares)	13,400,000

Share-Based Compensation - RSU

Share-Based Compensation - RSU and Stock Option Activity (Details) - $ / shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Unvested options outstanding at beginning of period (in shares)	96,827	0
Options granted (in shares)	0	0
Options vested (in shares)	0	0
Options forfeited (in shares)	0	0
Unvested options outstanding at end of period (in shares)	96,827	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Weighted average grant price of options outstanding at beginning of period (in USD per share)	$ 7.41	$ 0
Weighted average grant price of options granted (in USD per share)	0	0
Weighted average grant price of options vested (in USD per share)	0	0
Weighted average grant price of options forfeited (in USD per share)	0	0
Weighted average grant price of options outstanding at end of period (in USD per share)	$ 7.41	$ 0
RSUs
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Unvested units outstanding at beginning of period (in shares)	3,076,158	0
Units granted (in shares)	20,000	3,647,504
Units vested (in shares)	0	(719,479)
Units forfeited (in shares)	(6,000)	0
Unvested units outstanding at end of period (in shares)	3,090,158	2,928,025
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Weighted average grant price of unvested units outstanding at beginning of period (in USD per shares)	$ 16.08	$ 0
Weighted average grant price of units granted (in USD per shares)	7.99	15.85
Weighted average grant price of units vested (in USD per shares)	0	15.85
Weighted average grant price of units forfeited (in USD per shares)	15.85	0
Weighted average grant price of unvested units outstanding at end of period (in USD per shares)	$ 16.02	$ 15.85

Share-Based Compensation - Shar

Share-Based Compensation - Share-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	$ 3,937	$ 11,576
Costs of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	244	915
Advertising and promotions
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	505	1,698
General administration and other
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	$ 3,188	$ 8,963

Income Taxes - Schedule of Inco

Income Taxes - Schedule of Income Tax Provision (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Income tax provision	$ 2,002	$ 804

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Income Tax [Line Items]
Income tax expense	$ 2,002	$ 804
Effective tax rates	(4.00%)	110.00%
Unrecognized tax receivable agreement liability	$ 52,600		$ 46,200
Special Limited Partner
Income Tax [Line Items]
Tax receivable agreement, percentage of net certain tax benefits payable	85.00%

Loss Per Share - Schedule of Ba

Loss Per Share - Schedule of Basic and Diluted Loss per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Numerator:
Net loss	$ (52,270)	$ (76)
Net loss attributable to non-controlling interests	(37,573)	(59)
Net loss attributable to Rush Street Interactive, Inc. – basic	(14,697)	(17)
Effect of dilutive securities:
Warrants, net of amounts attributable to non-controlling interests	0	(9,569)
Net loss attributable to Rush Street Interactive, Inc. – diluted	$ (14,697)	$ (9,586)
Denominator:
Weighted Average Common Shares Outstanding - Basic (in shares)	61,800,359	46,955,262
Weighted average effect of dilutive securities:
Public Warrants (in shares)	0	3,770,106
Private Placement and Working Capital Warrants (in shares)	0	2,690,120
Weighted average common shares outstanding - diluted (in shares)	61,800,359	53,415,488
Net loss per Class A common share - basic (in USD per share)	$ (0.24)	$ 0
Net loss per Class A common share - diluted (in USD per share)	$ (0.24)	$ (0.18)

Loss Per Share - Schedule of An

Loss Per Share - Schedule of Anti-dilutive Securities (Details) - shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
RSILP Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of diluted shares outstanding (in shares)	155,893,584	160,000,000
Unvested Restricted Stock Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of diluted shares outstanding (in shares)	3,090,158	2,928,025
Unvested Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of diluted shares outstanding (in shares)	96,827

Related Parties (Details)

Related Parties (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Service Agreements | RSG | The Company
Related Party Transaction [Line Items]
Term Of The Agreement	2 years
RSG | Service Agreements
Related Party Transaction [Line Items]
Percentage Of Employee's Salary, Bonus and Benefits Cost Considered for Payroll Reimbursement	150.00%
Payables due to related party	$ 0.2		$ 0.1
Expenses relating to related party	9.5	$ 12.8
Affiliated Land-Based Casinos | Royalty Agreements
Related Party Transaction [Line Items]
Royalties fees	0.2	$ 0.3
Receivables due form related party	$ 30.8		$ 28.2

Commitments and Contingencies_2

Commitments and Contingencies (Details) - USD ($) $ in Thousands	Sep. 15, 2020	Mar. 31, 2022
Contractual Obligation, Fiscal Year Maturity [Abstract]
Remainder of 2022		$ 24,680
Year ending December 31, 2023		13,822
Year ending December 31, 2024		6,471
Year ending December 31, 2025		3,013
Year ending December 31, 2026		3,595
Thereafter		12,812
Total		64,393
Non-cancelable Lease Contract
Contractual Obligation, Fiscal Year Maturity [Abstract]
Operating and finance lease obligations		2,200
Non-cancelable Lease Contract with Marketing Vendors
Contractual Obligation, Fiscal Year Maturity [Abstract]
Operating and finance lease obligations		28,500
License and Market Access Commitments
Contractual Obligation, Fiscal Year Maturity [Abstract]
Operating and finance lease obligations		$ 33,700
Todd L. Anderson vs Rush Street Gaming, LLC and Rush Street Interactive, LLC | Pending Litigation
Loss Contingencies [Line Items]
Alleged equity stake offered associated with legal proceeding	1.00%