Rush Street Interactive (RSI) 10-Q 2 Nov 23 2023 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2023	Nov. 01, 2023
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
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	773
Local Phone Number	893-5855
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	2023
Document Fiscal Period Focus	Q3
Amendment Flag	false
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		71,615,525
Class V Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		150,649,310

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	$ 171,235	$ 179,723
Restricted cash	4,934	26,358
Players’ receivables	14,996	11,174
Prepaid expenses and other current assets	10,419	11,312
Total current assets	223,378	264,471
Intangible assets, net	75,152	69,025
Property and equipment, net	8,098	9,764
Operating lease assets	1,413	1,852
Other assets	6,779	5,234
Total assets	314,820	350,346
Current liabilities
Accounts payable	23,147	29,803
Accrued expenses	56,311	64,903
Players’ liabilities	50,046	42,512
Current deferred royalty liabilities	1,665	1,526
Current operating lease liabilities	692	722
Other current liabilities	5,981	4,479
Total current liabilities	137,842	143,945
Non-current deferred royalty liabilities	12,829	14,106
Non-current operating lease liabilities	748	1,177
Other non-current liabilities	1,067	244
Total liabilities	152,486	159,472
Commitments and contingencies
Stockholders’ equity
Additional paid-in capital	188,754	177,683
Accumulated other comprehensive loss	(679)	(1,648)
Accumulated deficit	(136,590)	(120,012)
Total stockholders’ equity attributable to Rush Street Interactive, Inc.	51,507	56,045
Non-controlling interests	110,827	134,829
Total stockholders’ equity	162,334	190,874
Total liabilities and stockholders’ equity	314,820	350,346
Related Party
Current assets
Due from affiliates	21,794	35,904
Class A Common Stock
Stockholders’ equity
Common stock value	7	6
Class V Common Stock
Stockholders’ equity
Common stock value	$ 15	$ 16

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2023	Dec. 31, 2022
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)	70,829,206	65,111,616
Common stock, outstanding (in shares)	70,829,206	65,111,616
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)	151,399,310	155,955,584
Common stock, outstanding (in shares)	151,399,310	155,955,584

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Revenue	$ 169,887	$ 148,004	$ 497,310	$ 426,678
Operating costs and expenses
Costs of revenue	116,159	103,321	333,166	308,061
Advertising and promotions	34,620	45,203	125,525	156,794
General administration and other	22,409	16,040	64,559	48,190
Depreciation and amortization	8,401	4,039	22,144	10,066
Total operating costs and expenses	181,589	168,603	545,394	523,111
Loss from operations	(11,702)	(20,599)	(48,084)	(96,433)
Other income (expenses)
Interest income (expense), net	762	(219)	1,430	(664)
Loss before income taxes	(10,940)	(20,818)	(46,654)	(97,097)
Income tax expense	2,426	1,839	7,946	6,176
Net loss	(13,366)	(22,657)	(54,600)	(103,273)
Net loss attributable to non-controlling interests	(9,187)	(16,044)	(38,022)	(73,631)
Net loss attributable to Rush Street Interactive, Inc.	$ (4,179)	$ (6,613)	$ (16,578)	$ (29,642)
Net loss per common share attributable to Rush Street Interactive, Inc. - diluted (in dollars per share)	$ (0.06)	$ (0.10)	$ (0.25)	$ (0.47)
Net loss per common share attributable to Rush Street Interactive, Inc - basic (in dollars per share)	$ (0.06)	$ (0.10)	$ (0.25)	$ (0.47)
Weighted average number of shares outstanding - diluted (in shares)	69,698,787	64,058,437	67,465,694	63,283,591
Weighted average common shares outstanding - basic (in shares)	69,698,787	64,058,437	67,465,694	63,283,591

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Net loss	$ (13,366)	$ (22,657)	$ (54,600)	$ (103,273)
Other comprehensive loss
Foreign currency translation adjustment	1,495	(1,368)	3,465	(1,777)
Comprehensive loss	(11,871)	(24,025)	(51,135)	(105,050)
Comprehensive loss attributable to non-controlling interests	(8,161)	(17,014)	(35,621)	(74,877)
Comprehensive loss attributable to Rush Street Interactive, Inc.	$ (3,710)	$ (7,011)	$ (15,514)	$ (30,173)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Thousands	Total	Total Stockholders’ Equity Attributable To RSI	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit	Non- Controlling Interests	Class A Common Stock Common Stock	Class V Common Stock Common Stock
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
Net loss	(52,270)	(14,697)			(14,697)	(37,573)
Issuance of Class A Common Stock upon exercise of Warrants (in shares)							2,808,745	(2,808,745)
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
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]
Foreign currency translation adjustment	(1,777)
Net loss	(103,273)
Ending balance (in shares) at Sep. 30, 2022							64,094,395	156,373,584
Ending balance at Sep. 30, 2022	217,252	62,922	174,937	(1,014)	(111,023)	154,330	$ 6	$ 16
Beginning balance (in shares) at Mar. 31, 2022							63,927,151	155,893,584
Beginning balance at Mar. 31, 2022	260,882	75,760	171,873	(57)	(96,078)	185,122	$ 6	$ 16
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation (in shares)							69,652
Share-based compensation	3,880	1,128	1,128			2,752
Foreign currency translation adjustment	(1,923)	(559)		(559)		(1,364)
Net loss	(28,346)	(8,332)			(8,332)	(20,014)
Allocation of equity and non-controlling interests upon changes in RSILP ownership	0	(64)	(64)			64
Acquisition of trademark intangible asset (in shares)							60,000	480,000
Acquisition of trademark intangible asset	2,700	786	786			1,914
Ending balance (in shares) at Jun. 30, 2022							64,056,803	156,373,584
Ending balance at Jun. 30, 2022	237,193	68,719	173,723	(616)	(104,410)	168,474	$ 6	$ 16
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation (in shares)							37,592
Share-based compensation	4,084	1,187	1,187			2,897
Foreign currency translation adjustment	(1,368)	(398)		(398)		(970)
Net loss	(22,657)	(6,613)			(6,613)	(16,044)
Allocation of equity and non-controlling interests upon changes in RSILP ownership	0	27	27			(27)
Ending balance (in shares) at Sep. 30, 2022							64,094,395	156,373,584
Ending balance at Sep. 30, 2022	217,252	62,922	174,937	(1,014)	(111,023)	154,330	$ 6	$ 16
Beginning balance (in shares) at Dec. 31, 2022							65,111,616	155,955,584
Beginning balance at Dec. 31, 2022	190,874	56,045	177,683	(1,648)	(120,012)	134,829	$ 6	$ 16
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation (in shares)							702,759
Share-based compensation	7,675	2,330	2,330			5,345
Foreign currency translation adjustment	344	101		101		243
Issuance of Class A Common Stock upon RSILP Unit Exchanges	0						$ 1	$ (1)
Net loss	(24,500)	(7,260)			(7,260)	(17,240)
Issuance of Class A Common Stock upon exercise of Warrants (in shares)							1,500,000	(1,500,000)
Allocation of equity and non-controlling interests upon changes in RSILP ownership	0	1,518	1,565	(47)		(1,518)
Ending balance (in shares) at Mar. 31, 2023							67,314,375	154,455,584
Ending balance at Mar. 31, 2023	174,393	52,734	181,578	(1,594)	(127,272)	121,659	$ 7	$ 15
Beginning balance (in shares) at Dec. 31, 2022							65,111,616	155,955,584
Beginning balance at Dec. 31, 2022	190,874	56,045	177,683	(1,648)	(120,012)	134,829	$ 6	$ 16
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Foreign currency translation adjustment	3,465
Net loss	(54,600)
Ending balance (in shares) at Sep. 30, 2023							70,829,206	151,399,310
Ending balance at Sep. 30, 2023	162,334	51,507	188,754	(679)	(136,590)	110,827	$ 7	$ 15
Beginning balance (in shares) at Mar. 31, 2023							67,314,375	154,455,584
Beginning balance at Mar. 31, 2023	174,393	52,734	181,578	(1,594)	(127,272)	121,659	$ 7	$ 15
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation (in shares)							238,765
Share-based compensation	7,518	2,288	2,288			5,230
Foreign currency translation adjustment	1,626	494		494		1,132
Net loss	(16,734)	(5,139)			(5,139)	(11,595)
Issuance of Class A Common Stock upon exercise of Warrants (in shares)							13,892	(13,892)
Allocation of equity and non-controlling interests upon changes in RSILP ownership	0	134	137	(3)		(134)
Ending balance (in shares) at Jun. 30, 2023							67,567,032	154,441,692
Ending balance at Jun. 30, 2023	166,803	50,511	184,003	(1,103)	(132,411)	116,292	$ 7	$ 15
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation (in shares)							219,792
Share-based compensation	7,402	2,359	2,359			5,043
Foreign currency translation adjustment	1,495	469		469		1,026
Net loss	(13,366)	(4,179)			(4,179)	(9,187)
Issuance of Class A Common Stock upon exercise of Warrants (in shares)							3,042,382	(3,042,382)
Allocation of equity and non-controlling interests upon changes in RSILP ownership	0	2,347	2,392	(45)		(2,347)
Ending balance (in shares) at Sep. 30, 2023							70,829,206	151,399,310
Ending balance at Sep. 30, 2023	$ 162,334	$ 51,507	$ 188,754	$ (679)	$ (136,590)	$ 110,827	$ 7	$ 15

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities
Net loss		$ (54,600)	$ (103,273)
Adjustments to reconcile net loss to net cash used in operating activities
Share-based compensation expense		22,595	11,901
Depreciation and amortization expense		22,144	10,066
Deferred income taxes		42	40
Noncash lease expense		507	404
Long-lived assets write off		683	0
Changes in operating assets and liabilities:
Players’ receivables		(3,822)	(1,171)
Due from affiliates		14,110	7,953
Prepaid expenses and other current assets		893	(3,476)
Other assets		(1,117)	283
Accounts payable		(6,746)	2,216
Accrued expenses and other current liabilities		(7,310)	13,235
Players’ liabilities		7,534	10,690
Deferred royalty liabilities		(1,138)	(1,043)
Operating lease liabilities		(534)	(448)
Net cash used in operating activities		(6,759)	(52,623)
Cash flows from investing activities
Purchases of property and equipment		(1,010)	(2,771)
Acquisition of gaming licenses		(6,796)	(3,091)
Internally developed software costs		(17,170)	(11,989)
Media content production costs		(608)	0
Investment in equity		(470)	0
Investment in long-term time deposits		0	(689)
Acquisition of trademark intangible asset, net of cash acquired		0	(1,540)
Net cash used in investing activities		(26,054)	(20,080)
Cash flows from financing activities
Principal payments of finance lease liabilities		(375)	(478)
Net cash used in financing activities		(375)	(478)
Effect of exchange rate changes on cash, cash equivalents and restricted cash		3,276	(1,807)
Net change in cash, cash equivalents and restricted cash		(29,912)	(74,988)
Cash, cash equivalents and restricted cash, at the beginning of the period	[1]	206,081	300,329
Cash, cash equivalents and restricted cash, at the end of the period	[1]	176,169	225,341
Supplemental disclosure of noncash investing and financing activities:
Operating lease assets obtained in exchange for new or modified operating lease liabilities		210	743
Finance lease assets obtained in exchange for new or modified finance lease liabilities		1,445	410
Allocation of equity and non-controlling interests upon changes in RSILP ownership		3,999	3,413
Property and equipment purchases in Accounts Payable and Accrued Expenses		169	134
License fee purchases in Accounts Payable and Accrued Expenses		123	0
Supplemental disclosure of cash flow information:
Cash paid for income taxes		7,248	5,310
Cash paid for interest		697	709
Class V Common Stock
Supplemental disclosure of noncash investing and financing activities:
Stock Issued		0	2,400
Class A Common Stock
Supplemental disclosure of noncash investing and financing activities:
Stock Issued		$ 0	$ 300
[1]Cash and cash equivalents and Restricted cash are each presented separately on the condensed consolidated balance sheets.

Description of Business

Description of Business	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	Description of BusinessRush 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.

Summary of Significant Accounti

Summary of Significant Accounting Policies and Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2023
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, 2022 included in the Company’s Annual Report on Form 10-K, as filed with the SEC on March 2, 2023. 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, LLC (“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 changes in equity. The portion of net loss 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, while the portion of comprehensive loss attributable to non-controlling interests is reported as comprehensive loss attributable to non-controlling interests in the Company’s condensed consolidated statements of comprehensive loss. All intercompany accounts and transactions have been eliminated upon consolidation. The Company is organized as an umbrella partnership-C corporation, or UP-C, structure, as a result of the transactions contemplated 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”). As an UP-C, 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). The non-controlling interest represents the Class A Common Units of RSILP (“RSILP Units”) held by holders other than the Company. As of September 30, 2023, the Company owned 31.87% of the RSILP Units and the holders of the non-controlling interest owned 68.13% of the RSILP Units. 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, non-controlling interests or cash flows. No reclassifications of prior period balances were material to the unaudited condensed consolidated financial statements. Interim Unaudited Condensed Consolidated Financial Statements The accompanying condensed consolidated balance sheet as of September 30, 2023, the condensed consolidated statements of operations, comprehensive loss, and changes in equity for the three and nine months ended September 30, 2023 and 2022, and cash flows for the nine months ended September 30, 2023 and 2022 are unaudited. The condensed consolidated balance sheet as of December 31, 2022 was derived from audited financial statements, but may omit certain disclosures required by U.S. GAAP previously disclosed in the most recent annual financial statements. 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 and nine months ended September 30, 2023 are not necessarily indicative of the results to be expected for the full year or any future period. 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 unaudited 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 and equipment and intangible assets; redemption rate assumptions associated with the Company’s player loyalty program and other discretionary player bonuses; deferred revenue; accrued expenses; determination of the incremental borrowing rate to calculate operating lease liabilities and finance lease liabilities; and deferred taxes and amounts associated with the tax receivable agreement (the “Tax Receivable Agreement”) entered into in connection with the closing of the transactions contemplated in the Business Combination Agreement on December 29, 2020 (the “Closing”). Cash and Cash Equivalents and Restricted Cash Cash and cash equivalents consist of highly liquid, unrestricted savings, checking, instant access internet banking accounts and certificates of deposits with original maturities of 90 days or less at acquisition. Restricted cash includes any cash and cash equivalents held by the Company that are legally restricted as to withdrawals or usage. This consists of certain deposits that are restricted under regulatory requirements. Regardless of whether customer deposits are legally restricted, the Company maintains separate bank accounts to segregate cash that resides in customers’ accounts from operational funds. Players’ Liabilities The Company records liabilities for customer cash account balances, the incremental progressive jackpot reserve and the expected future payout relating to customers’ unredeemed bonus store points and unused discretionary bonus incentives. Customer cash account balances consist of customer deposits, cash winnings, and pending cash wagers, less customer cash losses, withdrawals and tax withholdings. The Company’s restricted cash balance, players receivables balance, and the value of surety bonds held for the benefit of customers will equal or exceed the customer cash account balances. Surety Bond As of September 30, 2023, the Company has been issued $28.0 million in surety bonds that are used to satisfy regulatory requirements related to securing cash held by the Company on behalf of customers. There have been no claims against such bonds and the likelihood of future claims is remote. The Company did not have similar surety bonds outstanding as of December 31, 2022. Intangible Assets, Net Media content production costs The Company capitalizes costs associated with the development and production of media content in accordance with Accounting Standards Codification (“ASC”) 350 Intangibles - Goodwill and Other . The asset is recognized in Intangible Assets, net in the Company’s unaudited condensed consolidated balance sheet as of September 30, 2023 and is amortized over the estimated useful life of two years. Foreign Currency Gains and Losses The financial statements of foreign subsidiaries are translated into U.S. dollars in accordance with ASC 830, Foreign Currency Matters , using period-end exchange rates for assets and liabilities, and average exchange rates for the period for revenues, costs and expenses. The U.S. dollar effects that arise from translating the net assets of these subsidiaries at changing rates are recorded in the foreign currency translation adjustment account, which is included in equity as a component of accumulated other comprehensive loss. If transactions are recorded in a currency other than the subsidiary’s functional currency, remeasurement into the functional currency is required and may result in transaction gains or losses. Transaction gains (losses) were $(1.1) million and $0.4 million for the three and nine months ended September 30, 2023 compared to losses of $1.0 million and $2.1 million for the same period in 2022. Amounts are recorded in General administration and other on the Company’s unaudited condensed consolidated statements of operations. Recently Adopted Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (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 adopted ASU 2016-13 and the subsequent amendments on January 1, 2023, and the adoption did not have a material impact on its condensed consolidated financial statements and related disclosures. Recent Accounting Pronouncements Not Yet Adopted 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 U.S. 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	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition The Company’s revenue from contracts with customers is derived from online casino and 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 such as table games (i.e., blackjack and roulette) and slot machines. The Company generates revenue from these offerings 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, sports-related activity or a series of the same, 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 that partner’s retail sportsbook revenue. Services generally include ongoing management and oversight of the retail sportsbook, technical support for the partner’s customers, risk management, advertising and promotion, and support for third-party vendors’ 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 and nine months ended September 30, 2023 and 2022, was as follows: Three Months Ended Nine Months Ended ($ in thousands) 2023 2022 2023 2022 Online casino and online sports betting $ 165,306 $ 143,670 $ 483,724 $ 416,502 Retail sports betting 3,505 3,265 10,440 7,274 Social gaming 1,076 1,069 3,146 2,902 Total revenue $ 169,887 $ 148,004 $ 497,310 $ 426,678 Revenue by geographic region for the three and nine months ended September 30, 2023 and 2022, was as follows: Three Months Ended Nine Months Ended ($ in thousands) 2023 2022 2023 2022 United States and Canada $ 150,887 $ 135,916 $ 444,194 $ 388,996 Latin America, including Mexico 19,000 12,088 53,116 37,682 Total revenue $ 169,887 $ 148,004 $ 497,310 $ 426,678 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 September 30, 2023 and September 30, 2022 were as follows: Nine Months Ended ($ in thousands) 2023 2022 Deferred revenue, beginning of period $ 7,840 $ 4,637 Deferred revenue, end of period $ 9,406 $ 7,719 Revenue recognized during the period from amounts included in deferred revenue at the beginning of the period $ 7,840 $ 4,637

Intangible Assets, Net

Intangible Assets, Net	9 Months Ended
	Sep. 30, 2023
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Intangible Assets, Net	Intangible Assets, Net The Company had the following intangible assets, net as of September 30, 2023 and December 31, 2022: ($ in thousands) Weighted Gross Accumulated Net License Fees September 30, 2023 7.70 $ 60,416 $ (22,483) $ 37,933 December 31, 2022 8.44 $ 54,334 $ (12,363) $ 41,971 Internally Developed Software September 30, 2023 2.42 $ 38,017 $ (9,682) $ 28,335 December 31, 2022 2.51 $ 20,860 $ (3,490) $ 17,370 Developed Technology September 30, 2023 6.25 $ 5,931 $ (1,297) $ 4,634 December 31, 2022 7.00 $ 5,931 $ (741) $ 5,190 Trademark Asset September 30, 2023 3.67 $ 5,088 $ (1,357) $ 3,731 December 31, 2022 4.42 $ 5,088 $ (594) $ 4,494 Media Content September 30, 2023 1.72 $ 607 $ (88) $ 519 December 31, 2022 N/A $ — $ — $ — Amortization expense was $6.4 million and $17.9 million for the three and nine months ended September 30, 2023, respectively, compared to amortization expense of $3.1 million and $8.1 million for the same respective periods in 2022.

Property and Equipment, net

Property and Equipment, net	9 Months Ended
	Sep. 30, 2023
Property, Plant and Equipment [Abstract]
Property and Equipment, net	Property and Equipment, net The Company had the following property and equipment, net as of September 30, 2023 and December 31, 2022: ($ in thousands) September 30, December 31, 2022 Computers, software and related equipment $ 5,266 $ 4,050 Operating equipment and servers 4,709 4,610 Furniture 634 600 Leasehold improvements 649 640 Property and equipment not yet placed into service 494 816 Total property and equipment 11,752 10,716 Less: accumulated depreciation (7,004) (3,818) 4,748 6,898 Finance lease right-of-use assets 4,557 3,112 Less: accumulated amortization (1,207) (246) 3,350 2,866 Property and equipment, net $ 8,098 $ 9,764 The Company recorded depreciation expense on property and equipment of $1.5 million and $3.2 million for the three and nine months ended September 30, 2023, respectively, compared to depreciation expense of $0.7 million and $1.5 million for the same respective periods in 2022. The Company recorded amortization expense on finance lease right-of-use assets of $0.5 million and $1.0 million for the three and nine months ended September 30, 2023, respectively, and $0.2 million and $0.5 million for the same respective periods in 2022.

Accrued Expenses

Accrued Expenses	9 Months Ended
	Sep. 30, 2023
Payables and Accruals [Abstract]
Accrued Expenses	Accrued Expenses The Company has the following accrued expenses as of September 30, 2023 and December 31, 2022: ($ in thousands) September 30, December 31, Accrued compensation and related expenses $ 9,779 $ 10,077 Accrued operating expenses 25,822 24,256 Accrued marketing expenses 16,415 27,315 Accrued professional fees 3,541 1,622 Due to affiliates 324 649 Other 430 984 Total accrued expenses $ 56,311 $ 64,903

Stockholder's Equity

Stockholder's Equity	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
Stockholder's Equity	Stockholders’ Equity Non-Controlling Interests Non-controlling interests represents the RSILP Units held by holders other than the Company. Non-controlling interests owned 68.13% and 70.55% of the RSILP Units outstanding as of September 30, 2023 and December 31, 2022, respectively. The table below illustrates a rollforward of the non-controlling interests’ ownership during the nine months ended September 30, 2023: Non-Controlling Interest % Non-controlling interests ownership % as of December 31, 2022: 70.55 % Issuance of Class A Common Stock upon RSILP Unit Exchanges (2.05) % Issuance of Class A Common Stock in connection with the vesting of certain share-based equity grants (0.37) % Non-controlling interests ownership % as of September 30, 2023: 68.13 % Non-controlling interests owned 70.93% and 72.20% of the RSILP Units outstanding, as of September 30, 2022 and December 31, 2021, respectively. The table below illustrates a rollforward of the non-controlling interests’ ownership during the nine months ended September 30, 2022: Non-Controlling Interest % Non-controlling interests ownership % as of December 31, 2021: 72.20 % Issuance of Class A Common Stock upon RSILP Unit Exchanges (1.28) % Issuance of Class A Common Stock to acquire trademark intangible asset (0.02) % Issuance of Class V Common Stock to acquire trademark intangible assets 0.06 % Issuance of Class A Common Stock in connection with the vesting of certain share-based equity grants (0.03) % Non-controlling interests ownership % as of September 30, 2022: 70.93 %

Share-Based Compensation

Share-Based Compensation	9 Months Ended
	Sep. 30, 2023
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, certain consultants and 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. During the nine months ended September 30, 2023, the Compensation Committee of the Board and the full Board each approved an amendment to the 2020 Plan to increase the number of shares of Class A Common Stock reserved under the 2020 Plan by 22.4 million shares, with the Company’s stockholders approving such amendment at the Company’s 2023 annual meeting of stockholders on June 1, 2023. There are approximately 35.8 million shares of Class A Common Stock reserved under the 2020 Plan. The 2020 Plan will terminate on December 29, 2030. Restricted Stock Units (“RSUs”) and Options The Company granted 2,532,732 and 3,913,998 RSUs with service conditions, during the nine months ended September 30, 2023 and 2022, respectively. RSUs with service conditions generally vest over a three The Company granted 1,495,303 and 1,620,303 RSUs with market-based conditions (e.g., share price targets, total shareholder return) during the nine months ended September 30, 2023 and 2022, respectively. RSUs with market-based conditions generally vest over a three-year period and fair value was determined using a Monte Carlo Simulation using the following assumptions during the nine months ended September 30: 2023 2022 Volatility rate 69.78 % 71.00 % Risk-free interest rate 3.85 % 4.39 % Average expected life (in years) 2.8 3.0 Dividend yield None None Stock price at grant date $ 3.28 $ 3.95 The Company granted 1,084,445 and 790,339 stock options during the nine months ended September 30, 2023 and 2022, respectively. The estimated grant date fair value of stock options was determined using a Black-Scholes valuation model using the following weighted-average assumptions during the nine months ended September 30: 2023 2022 Volatility rate 70.00 % 58.98 % Risk-free interest rate 3.80 % 3.68 % Average expected life (in years) 6.0 5.6 Dividend yield None None Stock price at grant date $ 3.28 $ 4.07 Exercise price $ 3.28 $ 4.07 RSU and stock option activity for the nine months ended September 30, 2023 and 2022, was as follows: RSUs Options Number of units Weighted-average Number of options Weighted-average Unvested balance at December 31, 2022 7,492,613 $ 7.48 854,888 $ 4.93 Granted 4,028,035 4.12 1,084,445 3.28 Vested (1) (1,378,660) 4.30 (295,724) 5.31 Forfeited (78,664) 9.62 — — Unvested balance at September 30, 2023 10,063,324 $ 6.56 1,643,609 $ 3.77 ______________________________ (1) Includes 217,345 of RSUs that vested during the period but the resulting shares of Class A Common Stock have not yet been issued. There were 854,262 RSUs that vested but the resulting shares of Class A Common Stock were not issued as of September 30, 2023. 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 $ 15.40 Granted 5,534,301 4.17 790,339 4.07 Vested (1) (170,493) 8.80 (32,278) 15.40 Forfeited (67,169) 15.69 — — Unvested balance at September 30, 2022 8,372,797 $ 8.36 854,888 $ 4.93 _________________________________ (1) Includes 3,247 of RSUs that vested during the period but the resulting shares of Class A Common Stock have not yet been issued. There were 386,377 RSUs that vested but the resulting shares of Class A Common Stock were not issued as of September 30, 2022. The aggregate fair value of the RSUs granted during the three and nine months ended September 30, 2023, was $0.1 million and approximately $16.6 million, respectively, compared to the aggregate fair value of the RSUs granted of $21.7 million and $23.1 million for the same respective periods in 2022. The weighted average grant date fair value of RSUs vested during the three and nine months ended September 30, 2023 was approximately $0.9 million and $5.9 million, respectively, compared to $0.2 million and $1.5 million for the same respective periods in 2022. The aggregate fair value of stock options granted during the three and nine months ended September 30, 2023 was nil and approximately $2.3 million, respectively, compared to $1.8 million for both respective periods in 2022. The stock options outstanding as of September 30, 2023 had an aggregate $1.9 million intrinsic value. The weighted-average grant-date fair values of options granted during the three and nine months ended September 30, 2023 was nil and $2.14, respectively, compared to $2.26 for the same periods in 2022. As of September 30, 2023, the Company had unrecognized share-based compensation expense related to RSUs of $44.9 million, which is expected to be recognized over the remaining weighted-average vesting period of 0.99 years. As of September 30, 2023, the Company had unrecognized share-based compensation expense related to stock options of $3.2 million, which is expected to be recognized over the remaining weighted-average vesting period of 1.15 years. Share-based compensation expense for the three and nine months ended September 30, 2023 and 2022 was as follows: Three Months Ended September 30, Nine Months Ended September 30, ($ in thousands) 2023 2022 2023 2022 Costs of revenue $ 269 $ 249 $ 795 $ 739 Advertising and promotions 565 516 1,660 1,532 General administration and other 6,568 3,319 20,140 9,630 Total share-based compensation expense $ 7,402 $ 4,084 $ 22,595 $ 11,901

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The income tax provision for the three and nine months ended September 30, 2023 and 2022 was as follows: Three Months Ended September 30, Nine Months Ended September 30, ($ in thousands) 2023 2022 2023 2022 Income tax provision $ 2,426 $ 1,839 $ 7,946 $ 6,176 The Company recognized federal, state and foreign income tax expense of $2.4 million and $7.9 million during the three and nine months ended September 30, 2023, respectively, compared to $1.8 million and $6.2 million during the same periods in 2022. The effective tax rates for the three and nine months ended September 30, 2023 were (22.2)% and (17.0)%, respectively, and were (8.8)% and (6.4)% during the same periods in 2022. 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, valuation allowances recorded on deferred tax assets in foreign jurisdictions where the Company recently began operating, non-taxable income / (loss) attributable to non-controlling interest and income tax rate differences related to the Company’s Colombia operations for which both current and deferred taxes were 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 August 2022, the U.S. Inflation Reduction Act of 2022 and the CHIPS and Science Act of 2022 were signed into law. These acts include, among other provisions, a corporate alternative minimum tax of 15%, an excise tax on the repurchase of corporate stock, various climate and energy provisions and incentives for investment in semiconductor manufacturing. These provisions are not expected to have a material impact on the Company’s results of operations or financial position. In connection with the Business Combination, the Special Limited Partner entered into the Tax Receivable Agreement, which generally provides that it pay 85% of certain net tax benefits, if any, that the Company (including the Special Limited Partner) realizes (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 the 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 September 30, 2023 and December 31, 2022 was $65.2 million and $58.7 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 increase had no impact on the condensed consolidated statements of operations and condensed consolidated statements of comprehensive loss.

Net Loss Per Share

Net Loss Per Share	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Net Loss Per Share	Net loss Per Share The basic and diluted net loss per share for the three and nine months ended September 30, 2023 and 2022 were as follows (amounts in thousands, except for share and per share amounts): Three Months Ended Nine Months Ended 2023 2022 2023 2022 Numerator: Net loss $ (13,366) $ (22,657) $ (54,600) $ (103,273) Less: Net loss attributable to non-controlling interests (9,187) (16,044) (38,022) (73,631) Net loss attributable to Rush Street Interactive, Inc. – basic and diluted $ (4,179) $ (6,613) $ (16,578) $ (29,642) Denominator: Weighted average common shares outstanding – basic and diluted 69,698,787 64,058,437 67,465,694 63,283,591 Net loss per Class A common share – basic and diluted $ (0.06) $ (0.10) $ (0.25) $ (0.47) 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: Nine Months Ended September 30, 2023 2022 RSILP Units (1) 151,399,310 156,373,584 Unvested RSUs 10,063,324 8,372,797 Vested RSUs (2) 854,262 386,377 Unvested Stock Options 1,643,609 854,888 Vested Stock Options 328,002 32,278 _____________________________________ (1) RSILP Units that are held by non-controlling interest holders 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. (2) RSUs that vested but the resulting shares of Class A Common Stock have not yet been issued.

Related Parties

Related Parties	9 Months Ended
	Sep. 30, 2023
Related Party Transactions [Abstract]
Related Parties	Related Parties 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 or other consideration received as defined in the applicable agreement) in exchange for the right to operate real-money online casino and/or online sports betting under the gaming license of the land-based casinos or for marketing gaming offerings under the land-based casinos’ brand. Royalties related to arrangements with affiliated casinos were $11.2 million and $32.5 million for the three and nine months ended September 30, 2023 compared to $12.4 million and $35.8 million for the same periods in 2022, 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. In certain cases, the affiliate casino maintains the bank account that processes cash deposits and withdrawals for the Company’s customers. Accordingly, at any point in time, the Company will record a receivable from the affiliate, representing the Company’s total gaming revenue (with customers) that was collected by the affiliate, less consideration payable to the affiliate for use of its license, which is offset by any consideration owed to the Company from the affiliate based on the terms of the applicable agreement. Receivables due from affiliated land-based casinos were $21.8 million and $35.9 million at September 30, 2023 and December 31, 2022, respectively. In addition, the Company provides retail sports services to certain affiliated land-based casinos in exchange for a monthly commission based on the casino’s retail sportsbook revenue. Services generally include ongoing management and oversight of the retail sportsbook, technical support for the casino’s customers, risk management, advertising and promotion, and support for third-party vendors’ sports betting equipment. Revenue recognized relating to retail sports services provided to affiliated land-based casinos for the three and nine months ended September 30, 2023 and 2022 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 at September 30, 2023 or December 31, 2022.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2023
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 material pending or threatened claims. 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. 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 2023 $ 8,673 Year ending December 31, 2024 12,008 Year ending December 31, 2025 7,003 Year ending December 31, 2026 4,992 Year ending December 31, 2027 4,568 Thereafter 32,471 Total (1) $ 69,715 _____________________________________ (1) Includes operating lease and finance lease obligations under license and market access commitments totaling $49.1 million, obligations under non-cancelable contracts with marketing vendors totaling $17.5 million and non-cancelable lease contracts totaling $3.1 million. Certain market access arrangements require the Company to make additional payments at a contractual milestone date if the market access fees paid through 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.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Pay vs Performance Disclosure
Net Income (Loss) Attributable to Parent	$ (4,179)	$ (6,613)	$ (16,578)	$ (29,642)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of Significant Accoun_2

Summary of Significant Accounting Policies and Recent Accounting Pronouncements (Policies)	9 Months Ended
	Sep. 30, 2023
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, 2022 included in the Company’s Annual Report on Form 10-K, as filed with the SEC on March 2, 2023. 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, LLC (“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 changes in equity. The portion of net loss 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, while the portion of comprehensive loss attributable to non-controlling interests is reported as comprehensive loss attributable to non-controlling interests in the Company’s condensed consolidated statements of comprehensive loss. All intercompany accounts and transactions have been eliminated upon consolidation. The Company is organized as an umbrella partnership-C corporation, or UP-C, structure, as a result of the transactions contemplated 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”). As an UP-C, 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). The non-controlling interest represents the Class A Common Units of RSILP (“RSILP Units”) held by holders other than the Company. As of September 30, 2023, the Company owned 31.87% of the RSILP Units and the holders of the non-controlling interest owned 68.13% of the RSILP Units. Interim Unaudited Condensed Consolidated Financial Statements The accompanying condensed consolidated balance sheet as of September 30, 2023, the condensed consolidated statements of operations, comprehensive loss, and changes in equity for the three and nine months ended September 30, 2023 and 2022, and cash flows for the nine months ended September 30, 2023 and 2022 are unaudited. The condensed consolidated balance sheet as of December 31, 2022 was derived from audited financial statements, but may omit certain disclosures required by U.S. GAAP previously disclosed in the most recent annual financial statements. The interim unaudited condensed consolidated financial statements have been prepared on a basis consistent with the annual
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, total liabilities, stockholders’ equity, non-controlling interests or cash flows. No reclassifications of prior period balances were material to the unaudited condensed consolidated financial statements.
Use of Estimates	Use of EstimatesThe 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 unaudited 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 and equipment and intangible assets; redemption rate assumptions associated with the Company’s player loyalty program and other discretionary player bonuses; deferred revenue; accrued expenses; determination of the incremental borrowing rate to calculate operating lease liabilities and finance lease liabilities; and deferred taxes and amounts associated with the tax receivable agreement (the “Tax Receivable Agreement”) entered into in connection with the closing of the transactions contemplated in the Business Combination Agreement on December 29, 2020 (the “Closing”).
Cash and Cash Equivalents and Restricted Cash	Cash and Cash Equivalents and Restricted Cash Cash and cash equivalents consist of highly liquid, unrestricted savings, checking, instant access internet banking accounts and certificates of deposits with original maturities of 90 days or less at acquisition. Restricted cash includes any cash and cash equivalents held by the Company that are legally restricted as to withdrawals or usage. This consists of certain deposits that are restricted under regulatory requirements. Regardless of whether customer deposits are legally restricted, the Company maintains separate bank accounts to segregate cash that resides in customers’ accounts from operational funds.
Players' Liabilities	Players’ Liabilities The Company records liabilities for customer cash account balances, the incremental progressive jackpot reserve and the expected future payout relating to customers’ unredeemed bonus store points and unused discretionary bonus incentives. Customer cash account balances consist of customer deposits, cash winnings, and pending cash wagers, less customer cash losses, withdrawals and tax withholdings. The Company’s restricted cash balance, players receivables balance, and the value of surety bonds held for the benefit of customers will equal or exceed the customer cash account balances.
Intangible Assets, Net	Intangible Assets, Net Media content production costs The Company capitalizes costs associated with the development and production of media content in accordance with Accounting Standards Codification (“ASC”) 350 Intangibles - Goodwill and Other . The asset is recognized in Intangible Assets, net in the Company’s unaudited condensed consolidated balance sheet as of September 30, 2023 and is amortized over the estimated useful life of two years.
Foreign Currency Gains and Losses	Foreign Currency Gains and Losses The financial statements of foreign subsidiaries are translated into U.S. dollars in accordance with ASC 830, Foreign Currency Matters , using period-end exchange rates for assets and liabilities, and average exchange rates for the period for revenues, costs and expenses. The U.S. dollar effects that arise from translating the net assets of these subsidiaries at changing rates are recorded in the foreign currency translation adjustment account, which is included in equity as a component of accumulated other comprehensive loss. If transactions are recorded in a currency other than the subsidiary’s functional currency, remeasurement into the functional currency is required and may result in transaction gains or losses. Transaction gains (losses) were $(1.1) million and $0.4 million for the three and nine months ended September 30, 2023 compared to losses of $1.0 million and $2.1 million for the same period in 2022. Amounts are recorded in General administration and other on the Company’s unaudited condensed consolidated statements of operations.
Recent Accounting Pronouncements Adopted And Not Yet Adopted	Recently Adopted Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (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 adopted ASU 2016-13 and the subsequent amendments on January 1, 2023, and the adoption did not have a material impact on its condensed consolidated financial statements and related disclosures. Recent Accounting Pronouncements Not Yet Adopted 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 U.S. 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)	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Summary of Disaggregation of Revenue	Disaggregation of revenue for the three and nine months ended September 30, 2023 and 2022, was as follows: Three Months Ended Nine Months Ended ($ in thousands) 2023 2022 2023 2022 Online casino and online sports betting $ 165,306 $ 143,670 $ 483,724 $ 416,502 Retail sports betting 3,505 3,265 10,440 7,274 Social gaming 1,076 1,069 3,146 2,902 Total revenue $ 169,887 $ 148,004 $ 497,310 $ 426,678
Summary of Revenue by Geographic Region	Revenue by geographic region for the three and nine months ended September 30, 2023 and 2022, was as follows: Three Months Ended Nine Months Ended ($ in thousands) 2023 2022 2023 2022 United States and Canada $ 150,887 $ 135,916 $ 444,194 $ 388,996 Latin America, including Mexico 19,000 12,088 53,116 37,682 Total revenue $ 169,887 $ 148,004 $ 497,310 $ 426,678
Summary of Deferred Revenue	The deferred revenue balances as of September 30, 2023 and September 30, 2022 were as follows: Nine Months Ended ($ in thousands) 2023 2022 Deferred revenue, beginning of period $ 7,840 $ 4,637 Deferred revenue, end of period $ 9,406 $ 7,719 Revenue recognized during the period from amounts included in deferred revenue at the beginning of the period $ 7,840 $ 4,637

Intangible Assets, Net (Tables)

Intangible Assets, Net (Tables)	9 Months Ended
	Sep. 30, 2023
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Schedule of Intangible Assets, Net	The Company had the following intangible assets, net as of September 30, 2023 and December 31, 2022: ($ in thousands) Weighted Gross Accumulated Net License Fees September 30, 2023 7.70 $ 60,416 $ (22,483) $ 37,933 December 31, 2022 8.44 $ 54,334 $ (12,363) $ 41,971 Internally Developed Software September 30, 2023 2.42 $ 38,017 $ (9,682) $ 28,335 December 31, 2022 2.51 $ 20,860 $ (3,490) $ 17,370 Developed Technology September 30, 2023 6.25 $ 5,931 $ (1,297) $ 4,634 December 31, 2022 7.00 $ 5,931 $ (741) $ 5,190 Trademark Asset September 30, 2023 3.67 $ 5,088 $ (1,357) $ 3,731 December 31, 2022 4.42 $ 5,088 $ (594) $ 4,494 Media Content September 30, 2023 1.72 $ 607 $ (88) $ 519 December 31, 2022 N/A $ — $ — $ —

Property and Equipment, net (Ta

Property and Equipment, net (Tables)	9 Months Ended
	Sep. 30, 2023
Property, Plant and Equipment [Abstract]
Property and Equipment	The Company had the following property and equipment, net as of September 30, 2023 and December 31, 2022: ($ in thousands) September 30, December 31, 2022 Computers, software and related equipment $ 5,266 $ 4,050 Operating equipment and servers 4,709 4,610 Furniture 634 600 Leasehold improvements 649 640 Property and equipment not yet placed into service 494 816 Total property and equipment 11,752 10,716 Less: accumulated depreciation (7,004) (3,818) 4,748 6,898 Finance lease right-of-use assets 4,557 3,112 Less: accumulated amortization (1,207) (246) 3,350 2,866 Property and equipment, net $ 8,098 $ 9,764

Accrued Expenses (Tables)

Accrued Expenses (Tables)	9 Months Ended
	Sep. 30, 2023
Payables and Accruals [Abstract]
Schedule of Accrued Expenses	The Company has the following accrued expenses as of September 30, 2023 and December 31, 2022: ($ in thousands) September 30, December 31, Accrued compensation and related expenses $ 9,779 $ 10,077 Accrued operating expenses 25,822 24,256 Accrued marketing expenses 16,415 27,315 Accrued professional fees 3,541 1,622 Due to affiliates 324 649 Other 430 984 Total accrued expenses $ 56,311 $ 64,903

Stockholder's Equity (Tables)

Stockholder's Equity (Tables)	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
Schedule of Noncontrolling Interests	The table below illustrates a rollforward of the non-controlling interests’ ownership during the nine months ended September 30, 2023: Non-Controlling Interest % Non-controlling interests ownership % as of December 31, 2022: 70.55 % Issuance of Class A Common Stock upon RSILP Unit Exchanges (2.05) % Issuance of Class A Common Stock in connection with the vesting of certain share-based equity grants (0.37) % Non-controlling interests ownership % as of September 30, 2023: 68.13 % Non-controlling interests owned 70.93% and 72.20% of the RSILP Units outstanding, as of September 30, 2022 and December 31, 2021, respectively. The table below illustrates a rollforward of the non-controlling interests’ ownership during the nine months ended September 30, 2022: Non-Controlling Interest % Non-controlling interests ownership % as of December 31, 2021: 72.20 % Issuance of Class A Common Stock upon RSILP Unit Exchanges (1.28) % Issuance of Class A Common Stock to acquire trademark intangible asset (0.02) % Issuance of Class V Common Stock to acquire trademark intangible assets 0.06 % Issuance of Class A Common Stock in connection with the vesting of certain share-based equity grants (0.03) % Non-controlling interests ownership % as of September 30, 2022: 70.93 %

Share-Based Compensation (Table

Share-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	RSUs with market-based conditions generally vest over a three-year period and fair value was determined using a Monte Carlo Simulation using the following assumptions during the nine months ended September 30: 2023 2022 Volatility rate 69.78 % 71.00 % Risk-free interest rate 3.85 % 4.39 % Average expected life (in years) 2.8 3.0 Dividend yield None None Stock price at grant date $ 3.28 $ 3.95 2023 2022 Volatility rate 70.00 % 58.98 % Risk-free interest rate 3.80 % 3.68 % Average expected life (in years) 6.0 5.6 Dividend yield None None Stock price at grant date $ 3.28 $ 4.07 Exercise price $ 3.28 $ 4.07
Schedule of Stock Option Activity	RSU and stock option activity for the nine months ended September 30, 2023 and 2022, was as follows: RSUs Options Number of units Weighted-average Number of options Weighted-average Unvested balance at December 31, 2022 7,492,613 $ 7.48 854,888 $ 4.93 Granted 4,028,035 4.12 1,084,445 3.28 Vested (1) (1,378,660) 4.30 (295,724) 5.31 Forfeited (78,664) 9.62 — — Unvested balance at September 30, 2023 10,063,324 $ 6.56 1,643,609 $ 3.77 ______________________________ (1) Includes 217,345 of RSUs that vested during the period but the resulting shares of Class A Common Stock have not yet been issued. There were 854,262 RSUs that vested but the resulting shares of Class A Common Stock were not issued as of September 30, 2023. 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 $ 15.40 Granted 5,534,301 4.17 790,339 4.07 Vested (1) (170,493) 8.80 (32,278) 15.40 Forfeited (67,169) 15.69 — — Unvested balance at September 30, 2022 8,372,797 $ 8.36 854,888 $ 4.93 _________________________________ (1) Includes 3,247 of RSUs that vested during the period but the resulting shares of Class A Common Stock have not yet been issued. There were 386,377 RSUs that vested but the resulting shares of Class A Common Stock were not issued as of September 30, 2022.
Schedule of Restricted Stock Unit Activity	RSU and stock option activity for the nine months ended September 30, 2023 and 2022, was as follows: RSUs Options Number of units Weighted-average Number of options Weighted-average Unvested balance at December 31, 2022 7,492,613 $ 7.48 854,888 $ 4.93 Granted 4,028,035 4.12 1,084,445 3.28 Vested (1) (1,378,660) 4.30 (295,724) 5.31 Forfeited (78,664) 9.62 — — Unvested balance at September 30, 2023 10,063,324 $ 6.56 1,643,609 $ 3.77 ______________________________ (1) Includes 217,345 of RSUs that vested during the period but the resulting shares of Class A Common Stock have not yet been issued. There were 854,262 RSUs that vested but the resulting shares of Class A Common Stock were not issued as of September 30, 2023. 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 $ 15.40 Granted 5,534,301 4.17 790,339 4.07 Vested (1) (170,493) 8.80 (32,278) 15.40 Forfeited (67,169) 15.69 — — Unvested balance at September 30, 2022 8,372,797 $ 8.36 854,888 $ 4.93 _________________________________ (1) Includes 3,247 of RSUs that vested during the period but the resulting shares of Class A Common Stock have not yet been issued. There were 386,377 RSUs that vested but the resulting shares of Class A Common Stock were not issued as of September 30, 2022.
Schedule of Share-based Compensation Expense	Share-based compensation expense for the three and nine months ended September 30, 2023 and 2022 was as follows: Three Months Ended September 30, Nine Months Ended September 30, ($ in thousands) 2023 2022 2023 2022 Costs of revenue $ 269 $ 249 $ 795 $ 739 Advertising and promotions 565 516 1,660 1,532 General administration and other 6,568 3,319 20,140 9,630 Total share-based compensation expense $ 7,402 $ 4,084 $ 22,595 $ 11,901

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Schedule of Income Tax Provision	The income tax provision for the three and nine months ended September 30, 2023 and 2022 was as follows: Three Months Ended September 30, Nine Months Ended September 30, ($ in thousands) 2023 2022 2023 2022 Income tax provision $ 2,426 $ 1,839 $ 7,946 $ 6,176

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Loss per Share	The basic and diluted net loss per share for the three and nine months ended September 30, 2023 and 2022 were as follows (amounts in thousands, except for share and per share amounts): Three Months Ended Nine Months Ended 2023 2022 2023 2022 Numerator: Net loss $ (13,366) $ (22,657) $ (54,600) $ (103,273) Less: Net loss attributable to non-controlling interests (9,187) (16,044) (38,022) (73,631) Net loss attributable to Rush Street Interactive, Inc. – basic and diluted $ (4,179) $ (6,613) $ (16,578) $ (29,642) Denominator: Weighted average common shares outstanding – basic and diluted 69,698,787 64,058,437 67,465,694 63,283,591 Net loss per Class A common share – basic and diluted $ (0.06) $ (0.10) $ (0.25) $ (0.47)
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: Nine Months Ended September 30, 2023 2022 RSILP Units (1) 151,399,310 156,373,584 Unvested RSUs 10,063,324 8,372,797 Vested RSUs (2) 854,262 386,377 Unvested Stock Options 1,643,609 854,888 Vested Stock Options 328,002 32,278 _____________________________________ (1) RSILP Units that are held by non-controlling interest holders 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. (2) RSUs that vested but the resulting shares of Class A Common Stock have not yet been issued.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2023
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 2023 $ 8,673 Year ending December 31, 2024 12,008 Year ending December 31, 2025 7,003 Year ending December 31, 2026 4,992 Year ending December 31, 2027 4,568 Thereafter 32,471 Total (1) $ 69,715 _____________________________________ (1) Includes operating lease and finance lease obligations under license and market access commitments totaling $49.1 million, obligations under non-cancelable contracts with marketing vendors totaling $17.5 million and non-cancelable lease contracts totaling $3.1 million. Certain market access arrangements require the Company to make additional payments at a contractual milestone date if the market access fees paid through 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_3

Summary of Significant Accounting Policies and Recent Accounting Pronouncements (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021
Accounting Policies [Line Items]
Foreign currency gains and losses	$ (1,100,000)	$ (1,000,000)	$ 400,000	$ (2,100,000)
Surety Bond
Accounting Policies [Line Items]
Surety bonds	$ 28,000,000		$ 28,000,000		$ 0
Media Content
Accounting Policies [Line Items]
Useful life of asset	2 years		2 years
RSILP | Owners Other Than Rush Street Interactive
Accounting Policies [Line Items]
Percentage of common units retained by sellers	68.13%	70.93%	68.13%	70.93%	70.55%	72.20%
RSILP Acquisition | RSILP
Accounting Policies [Line Items]
Ownership percentage by controlling owners	0.3187		0.3187

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disaggregation of Revenue [Line Items]
Total revenue	$ 169,887	$ 148,004	$ 497,310	$ 426,678
Online casino and online sports betting
Disaggregation of Revenue [Line Items]
Total revenue	165,306	143,670	483,724	416,502
Retail sports betting
Disaggregation of Revenue [Line Items]
Total revenue	3,505	3,265	10,440	7,274
Social gaming
Disaggregation of Revenue [Line Items]
Total revenue	$ 1,076	$ 1,069	$ 3,146	$ 2,902

Revenue Recognition - Revenue b

Revenue Recognition - Revenue by Geographic Region (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disaggregation of Revenue [Line Items]
Total revenue	$ 169,887	$ 148,004	$ 497,310	$ 426,678
United States and Canada
Disaggregation of Revenue [Line Items]
Total revenue	150,887	135,916	444,194	388,996
Latin America, including Mexico
Disaggregation of Revenue [Line Items]
Total revenue	$ 19,000	$ 12,088	$ 53,116	$ 37,682

Revenue Recognition - Deferred

Revenue Recognition - Deferred revenue (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Deferred revenue, beginning of period	$ 7,840	$ 4,637
Deferred revenue, end of period	9,406	7,719
Revenue recognized during the period from amounts included in deferred revenue at the beginning of the period	$ 7,840	$ 4,637

Intangible Assets, Net (Details

Intangible Assets, Net (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Net	$ 75,152		$ 75,152		$ 69,025
Amortization expense	$ 6,400	$ 3,100	$ 17,900	$ 8,100
License Fees
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Amortization Period (years)	7 years 8 months 12 days		7 years 8 months 12 days		8 years 5 months 8 days
Gross Carrying Amount	$ 60,416		$ 60,416		$ 54,334
Accumulated Amortization	(22,483)		(22,483)		(12,363)
Net	$ 37,933		$ 37,933		$ 41,971
Internally Developed Software
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Amortization Period (years)	2 years 5 months 1 day		2 years 5 months 1 day		2 years 6 months 3 days
Gross Carrying Amount	$ 38,017		$ 38,017		$ 20,860
Accumulated Amortization	(9,682)		(9,682)		(3,490)
Net	$ 28,335		$ 28,335		$ 17,370
Developed Technology
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Amortization Period (years)	6 years 3 months		6 years 3 months		7 years
Gross Carrying Amount	$ 5,931		$ 5,931		$ 5,931
Accumulated Amortization	(1,297)		(1,297)		(741)
Net	$ 4,634		$ 4,634		$ 5,190
Trademark Asset
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Amortization Period (years)	3 years 8 months 1 day		3 years 8 months 1 day		4 years 5 months 1 day
Gross Carrying Amount	$ 5,088		$ 5,088		$ 5,088
Accumulated Amortization	(1,357)		(1,357)		(594)
Net	$ 3,731		$ 3,731		4,494
Media Content
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Amortization Period (years)	1 year 8 months 19 days		1 year 8 months 19 days
Gross Carrying Amount	$ 607		$ 607		0
Accumulated Amortization	(88)		(88)		0
Net	$ 519		$ 519		$ 0

Property and Equipment, net - N

Property and Equipment, net - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense	$ 1.5	$ 0.7	$ 3.2	$ 1.5
Amortization expense	$ 0.5	$ 0.2	$ 1	$ 0.5

Property and Equipment, net (De

Property and Equipment, net (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Property and equipment, net
Property and equipment	$ 11,752	$ 10,716
Less: accumulated depreciation	(7,004)	(3,818)
Property and equipment, net	4,748	6,898
Finance lease right-of-use assets	4,557	3,112
Less: accumulated amortization	(1,207)	(246)
Finance lease, right-of-use asset, after accumulated amortization	3,350	2,866
Property and equipment, net	8,098	9,764
Computers, software and related equipment
Property and equipment, net
Property and equipment	5,266	4,050
Operating equipment and servers
Property and equipment, net
Property and equipment	4,709	4,610
Furniture
Property and equipment, net
Property and equipment	634	600
Leasehold improvements
Property and equipment, net
Property and equipment	649	640
Property and equipment not yet placed into service
Property and equipment, net
Property and equipment	$ 494	$ 816

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Supplier Finance Program [Line Items]
Accrued compensation and related expenses	$ 9,779	$ 10,077
Accrued operating expenses	25,822	24,256
Accrued marketing expenses	16,415	27,315
Accrued professional fees	3,541	1,622
Total accrued expenses	56,311	64,903
Related Party
Supplier Finance Program [Line Items]
Due to affiliates	324	649
Other	324	649
Nonrelated Party
Supplier Finance Program [Line Items]
Due to affiliates	430	984
Other	$ 430	$ 984

Stockholder's Equity - Narrativ

Stockholder's Equity - Narrative (Details)	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Dec. 31, 2021
RSILP | Owners Other Than Rush Street Interactive
Class of Stock [Line Items]
Percentage of common units retained by sellers	68.13%	70.55%	70.93%	72.20%

Stockholder's Equity - Schedule

Stockholder's Equity - Schedule of Noncontrolling Interests (Details) - RSILP - Owners Other Than Rush Street Interactive	9 Months Ended
	Sep. 30, 2023 Rate	Sep. 30, 2022
Noncontrolling Interest [Roll Forward]
Non-controlling interest ownership percentage at beginning of period	70.55%	72.20%
Issuance of Class A Common Stock upon RSILP Unit Exchanges	(0.0205)	(0.0128)
Non-controlling interest ownership percentage at end of period	68.13%	70.93%
Class A Common Stock
Noncontrolling Interest [Roll Forward]
Issuance of Class A Common Stock to acquire trademark intangible asset		(0.0002)
Issuance of Class V Common Stock to acquire trademark intangible assets		(0.0002)
Issuance of Class A Common Stock in connection with the vesting of certain share-based equity grants	(0.37%)	(0.0003)
Class V Common Stock
Noncontrolling Interest [Roll Forward]
Issuance of Class A Common Stock to acquire trademark intangible asset		0.0006
Issuance of Class V Common Stock to acquire trademark intangible assets		0.0006

Share-Based Compensation - Narr

Share-Based Compensation - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted (in shares)			1,084,445	790,339
Weighted average grant price of options granted (in USD per share)			$ 3.28	$ 4.07
Service-Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units granted (in shares)			2,532,732	3,913,998
Market-Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units granted (in shares)			1,495,303	1,620,303
Vesting period			3 years
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units granted (in shares)			4,028,035	5,534,301
Aggregate fair value of units granted	$ 100,000	$ 21,700,000	$ 16,600,000	$ 23,100,000
Weighted average grant date fair value	900,000	$ 200,000	5,900,000	$ 1,500,000
Unrecognized stock-based compensation expense	$ 44,900,000		$ 44,900,000
Weighted-average vesting period of unrecognized stock-based compensation expense			11 months 26 days
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant price of options granted (in USD per share)	$ 0	$ 2.26	$ 2.14	$ 2.26
Aggregate fair value of options granted	$ 0	$ 1,800,000	$ 2,300,000	$ 1,800,000
Stock options outstanding, intrinsic value	1,900,000		1,900,000
Unrecognized stock-based compensation expense	$ 3,200,000		$ 3,200,000
Weighted-average vesting period of unrecognized stock-based compensation expense			1 year 1 month 24 days
Restricted Stock Units, Service Conditions | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years
Restricted Stock Units, Service Conditions | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			4 years
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)	22,400,000		22,400,000		35,800,000

Share-Based Compensation - Valu

Share-Based Compensation - Valuation Assumptions (Details) - $ / shares	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility rate	69.78%	71%
Risk-free interest rate	3.85%	4.39%
Average expected life (in years)	2 years 9 months 18 days	3 years
Dividend yield	0%	0%
Share price (in USD per share)	$ 3.28	$ 3.95
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility rate	70%	58.98%
Risk-free interest rate	3.80%	3.68%
Average expected life (in years)	6 years	5 years 7 months 6 days
Dividend yield	0%	0%
Share price (in USD per share)	$ 3.28	$ 4.07
Exercise price (in USD per share)	$ 3.28	$ 4.07

Share-Based Compensation - RSU

Share-Based Compensation - RSU and Stock Option Activity (Details) - $ / shares			9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Unvested options outstanding at beginning of period (in shares)			854,888	96,827
Options granted (in shares)			1,084,445	790,339
Options vested (in shares)			(295,724)	(32,278)
Options forfeited (in shares)			0	0
Unvested options outstanding at end of period (in shares)	1,643,609	854,888	1,643,609	854,888
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)			$ 4.93	$ 15.40
Weighted average grant price of options granted (in USD per share)			3.28	4.07
Weighted average grant price of options vested (in USD per share)			5.31	15.40
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)	$ 3.77	$ 4.93	$ 3.77	$ 4.93
Vested RSUs
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
RSU's vested without shares issued (in shares)	854,262	386,377
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)			7,492,613	3,076,158
Units granted (in shares)			4,028,035	5,534,301
Units vested (in shares)			(1,378,660)	(170,493)
Units forfeited (in shares)			(78,664)	(67,169)
Unvested units outstanding at end of period (in shares)	10,063,324	8,372,797	10,063,324	8,372,797
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)			$ 7.48	$ 16.08
Weighted average grant price of units granted (in USD per shares)			4.12	4.17
Weighted average grant price of units vested (in USD per shares)			4.30	8.80
Weighted average grant price of units forfeited (in USD per shares)			9.62	15.69
Weighted average grant price of unvested units outstanding at end of period (in USD per shares)	$ 6.56	$ 8.36	$ 6.56	$ 8.36
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
RSU's vested without shares issued (in shares)			217,345	3,247

Share-Based Compensation - Shar

Share-Based Compensation - Share-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	$ 7,402	$ 4,084	$ 22,595	$ 11,901
Costs of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	269	249	795	739
Advertising and promotions
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	565	516	1,660	1,532
General administration and other
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	$ 6,568	$ 3,319	$ 20,140	$ 9,630

Income Taxes - Schedule of Inco

Income Taxes - Schedule of Income Tax Provision (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income tax provision	$ 2,426	$ 1,839	$ 7,946	$ 6,176

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Income Tax [Line Items]
Income tax expense	$ 2,426	$ 1,839	$ 7,946	$ 6,176
Effective tax rates	(22.20%)	(8.80%)	(17.00%)	(6.40%)
Unrecognized tax receivable agreement liability	$ 65,200		$ 65,200		$ 58,700
Special Limited Partner
Income Tax [Line Items]
Tax receivable agreement, percentage of net certain tax benefits payable			85%

Net Loss Per Share - Schedule o

Net Loss Per Share - Schedule of Basic and Diluted Loss per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Numerator:
Net loss	$ (13,366)	$ (16,734)	$ (24,500)	$ (22,657)	$ (28,346)	$ (52,270)	$ (54,600)	$ (103,273)
Net loss attributable to non-controlling interests	(9,187)			(16,044)			(38,022)	(73,631)
Net loss attributable to Rush Street Interactive, Inc. – basic and diluted	$ (4,179)			$ (6,613)			$ (16,578)	$ (29,642)
Denominator:
Weighted average common shares outstanding - basic (in shares)	69,698,787			64,058,437			67,465,694	63,283,591
Weighted average number of shares outstanding - diluted (in shares)	69,698,787			64,058,437			67,465,694	63,283,591
Net loss per Class A common share - basic (in USD per share)	$ (0.06)			$ (0.10)			$ (0.25)	$ (0.47)
Net loss per Class A common share - diluted (in USD per share)	$ (0.06)			$ (0.10)			$ (0.25)	$ (0.47)

Net Loss Per Share - Schedule_2

Net Loss Per Share - Schedule of Anti-dilutive Securities (Details) - shares	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
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)	151,399,310	156,373,584
Unvested RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of diluted shares outstanding (in shares)	10,063,324	8,372,797
Vested RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of diluted shares outstanding (in shares)	854,262	386,377
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)	1,643,609	854,888
Vested 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)	328,002	32,278

Related Parties (Details)

Related Parties (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
RSG | Service Agreements
Related Party Transaction [Line Items]
Expenses relating to related party	$ 11.2	$ 12.4	$ 32.5	$ 35.8
Affiliated Land-Based Casinos | Royalty Agreements
Related Party Transaction [Line Items]
Due from affiliates	$ 21.8		$ 21.8		$ 35.9

Commitments and Contingencies_2

Commitments and Contingencies (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Loss Contingencies [Line Items]
Remainder of 2023	$ 8,673
Year ending December 31, 2024	12,008
Year ending December 31, 2025	7,003
Year ending December 31, 2026	4,992
Year ending December 31, 2027	4,568
Thereafter	32,471
Total	69,715
Non-cancelable Lease Contract
Loss Contingencies [Line Items]
Operating and finance lease obligations	3,100
Non-cancelable Lease Contract with Marketing Vendors
Loss Contingencies [Line Items]
Operating and finance lease obligations	17,500
License and Market Access Commitments
Loss Contingencies [Line Items]
Operating and finance lease obligations	$ 49,100