Rush Street Interactive (RSI) 10-Q 2 May 24 2024 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2024	May 01, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
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	2024
Document Fiscal Period Focus	Q1
Amendment Flag	false
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		79,678,782
Class V Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		145,384,310

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 191,156	$ 168,330
Restricted cash	3,160	2,647
Players’ receivables	13,488	10,516
Prepaid expenses and other current assets	18,426	13,651
Total current assets	246,822	228,615
Intangible assets, net	77,906	74,874
Property and equipment, net	8,213	8,611
Operating lease assets	1,191	1,276
Other assets	7,258	5,204
Total assets	341,390	318,580
Current liabilities
Accounts payable	25,716	32,347
Accrued expenses	64,621	51,131
Players’ liabilities	41,759	42,135
Current deferred royalty liabilities	1,728	1,712
Current operating lease liabilities	589	621
Other current liabilities	19,871	9,747
Total current liabilities	154,284	137,693
Non-current deferred royalty liabilities	11,956	12,395
Non-current operating lease liabilities	620	673
Other non-current liabilities	2,084	1,690
Total liabilities	168,944	152,451
Commitments and contingencies
Stockholders’ equity
Additional paid-in capital	199,911	192,163
Accumulated other comprehensive loss	(72)	(100)
Accumulated deficit	(139,044)	(138,317)
Total stockholders’ equity attributable to Rush Street Interactive, Inc.	60,817	53,768
Non-controlling interests	111,629	112,361
Total stockholders’ equity	172,446	166,129
Total liabilities and stockholders’ equity	341,390	318,580
Related Party
Current assets
Due from affiliates	20,592	33,471
Class A Common Stock
Stockholders’ equity
Common stock value	8	7
Class V Common Stock
Stockholders’ equity
Common stock value	$ 14	$ 15

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2024	Dec. 31, 2023
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)	79,543,611	72,387,409
Common stock, outstanding (in shares)	79,543,611	72,387,409
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)	145,384,310	150,434,310
Common stock, outstanding (in shares)	145,384,310	150,434,310

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Statement [Abstract]
Revenue	$ 217,428	$ 162,361
Operating costs and expenses
Costs of revenue	144,523	107,154
Advertising and promotions	38,404	49,940
General and administrative	25,868	21,592
Depreciation and amortization	7,101	5,755
Total operating costs and expenses	215,896	184,441
Income (loss) from operations	1,532	(22,080)
Other income
Interest income, net	1,559	380
Income (loss) before income taxes	3,091	(21,700)
Income tax expense	5,300	2,800
Net loss	(2,209)	(24,500)
Net loss attributable to non-controlling interests	(1,482)	(17,240)
Net loss attributable to Rush Street Interactive, Inc.	$ (727)	$ (7,260)
Net loss per common share attributable to Rush Street Interactive, Inc - basic (in dollars per share)	$ (0.01)	$ (0.11)
Net loss per common share attributable to Rush Street Interactive, Inc. - diluted (in dollars per share)	$ (0.01)	$ (0.11)
Weighted average common shares outstanding - basic (in shares)	76,027,427	65,260,064
Weighted average number of shares outstanding - diluted (in shares)	76,027,427	65,260,064

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Net loss	$ (2,209)	$ (24,500)
Other comprehensive income
Foreign currency translation adjustment	101	344
Comprehensive loss	(2,108)	(24,156)
Comprehensive loss attributable to non-controlling interests	(1,416)	(16,997)
Comprehensive loss attributable to Rush Street Interactive, Inc.	$ (692)	$ (7,159)

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 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, 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 exercise of Warrants (in shares)							1,500,000	(1,500,000)
Issuance of Class A Common Stock upon RSILP Unit Exchanges							$ 1	$ (1)
Net loss	(24,500)	(7,260)			(7,260)	(17,240)
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, 2023							72,387,409	150,434,310
Beginning balance at Dec. 31, 2023	166,129	53,768	192,163	(100)	(138,317)	112,361	$ 7	$ 15
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation (in shares)							2,106,202
Share-based compensation	8,425	2,979	2,979			5,446
Foreign currency translation adjustment	101	35		35		66
Issuance of Class A Common Stock upon exercise of Warrants (in shares)							5,050,000	(5,050,000)
Issuance of Class A Common Stock upon RSILP Unit Exchanges	0						$ 1	$ (1)
Net loss	(2,209)	(727)			(727)	(1,482)
Allocation of equity and non-controlling interests upon changes in RSILP ownership	0	4,762	4,769	(7)		(4,762)
Ending balance (in shares) at Mar. 31, 2024							79,543,611	145,384,310
Ending balance at Mar. 31, 2024	$ 172,446	$ 60,817	$ 199,911	$ (72)	$ (139,044)	$ 111,629	$ 8	$ 14

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2024	Mar. 31, 2023
Cash flows from operating activities
Net loss		$ (2,209)	$ (24,500)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities
Share-based compensation expense		8,425	7,675
Depreciation and amortization expense		7,101	5,755
Deferred income taxes		(697)	0
Noncash lease expense		194	161
Long-lived assets write off		0	613
Changes in operating assets and liabilities:
Players’ receivables		(2,992)	3,061
Due from affiliates		12,879	7,150
Prepaid expenses and other current assets		(5,969)	(4,129)
Other assets		6	123
Accounts payable		(6,285)	(12,011)
Accrued expenses and other current liabilities		21,413	(7,233)
Players’ liabilities		(334)	(839)
Deferred royalty liabilities		(422)	63
Operating lease liabilities		(202)	(165)
Net cash provided by (used in) operating activities		30,908	(24,276)
Cash flows from investing activities
Purchases of property and equipment		(278)	(429)
Acquisition of gaming licenses		(413)	(79)
Internally developed software costs		(6,335)	(5,790)
Media content production costs		(259)	(169)
Short-term investments		(128)	0
Net cash used in investing activities		(7,413)	(6,467)
Cash flows from financing activities
Principal payments of finance lease liabilities		(182)	(24)
Net cash used in financing activities		(182)	(24)
Effect of exchange rate changes on cash, cash equivalents and restricted cash		26	283
Net change in cash, cash equivalents and restricted cash		23,339	(30,484)
Cash, cash equivalents and restricted cash, at the beginning of the period	[1]	170,977	206,081
Cash, cash equivalents and restricted cash, at the end of the period	[1]	194,316	175,597
Supplemental disclosure of noncash investing and financing activities:
Right-of-use assets obtained in exchange for new or modified finance lease liabilities		436	0
Allocation of equity and non-controlling interests upon changes in RSILP ownership		4,762	1,518
Capitalized intangible assets in Accounts Payable and Accrued Expenses		2,980	5,880
Supplemental disclosure of cash flow information:
Cash paid for income taxes		2,157	818
Cash paid for interest		252	224
Class A Common Stock
Supplemental disclosure of noncash investing and financing activities:
Property and equipment purchases in Accounts Payable and Accrued Expenses		$ 79	$ 146
[1] Cash and cash equivalents and Restricted cash are each presented separately on the condensed consolidated balance sheets.

Description of Business

Description of Business	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	Description of Business Rush Street Interactive, Inc. is a holding company organized under the laws of the State of Delaware and through its main operating subsidiary, Rush Street Interactive, LP and its subsidiaries (collectively, “RSILP”), is a leading online gaming company that provides online casino and sports betting in the U.S., Canadian and Latin American markets. Rush Street Interactive, Inc. and its subsidiaries (including RSILP) are collectively referred to as “RSI” or the “Company.” The Company is headquartered in Chicago, IL.

Summary of Significant Accounti

Summary of Significant Accounting Policies and Recent Accounting Pronouncements	3 Months Ended
	Mar. 31, 2024
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 consolidated 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, 2023 included in the Company’s Annual Report on Form 10-K, as filed with the SEC on March 7, 2024. 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 March 31, 2024, the Company owned 35.36% of the RSILP Units and the holders of the non-controlling interest owned 64.64% 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 March 31, 2024 and the condensed consolidated statements of operations, comprehensive loss, changes in equity and cash flows for the three months ended March 31, 2024 and 2023 are unaudited. The condensed consolidated balance sheet as of December 31, 2023 was derived from audited consolidated financial statements, but may omit certain disclosures required by U.S. GAAP previously disclosed in the most recent annual consolidated 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 months ended March 31, 2024 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; internally developed software; long-lived assets and investments in equity; the estimated useful lives of property and equipment and intangible assets; redemption rate assumptions associated with the 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” or “TRA”) 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, money market funds 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. Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consist primarily of prepaid expenses and short-term investments. Prepaid expenses consist of various advance payments for goods or services to be received in the future. These costs include insurance, subscriptions, marketing, other contracted services and deposits paid in advance. As of March 31, 2024 and December 31, 2023, the Company had prepaid expenses of $9.1 million and $7.5 million, respectively. Short-term investments consist of certificates of deposit with an original maturity greater than three months but less than one year. As of March 31, 2024 and December 31, 2023, the Company had short-term investments of $3.2 million and $3.1 million, respectively. Surety Bonds The Company had been issued $30.0 million and $28.0 million in surety bonds as of March 31, 2024 and December 31, 2023, respectively, that are used to satisfy regulatory requirements related to securing cash held for the benefit of customers. The Company had been issued $4.6 million in surety bonds as of March 31, 2024 and December 31, 2023 to satisfy regulatory requirements necessary to operate in certain jurisdictions. There have been no claims against any of our surety bonds and the likelihood of future claims is expected to be remote. 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 losses were $0.4 million for the three months ended March 31, 2024 compared to gains of $0.4 million for the same period in 2023. Amounts are recorded in general and administrative on the Company’s unaudited condensed consolidated statements of operations. Recently Adopted Accounting Pronouncements 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 in calendar year 2024. The Company adopted ASU 2020-6 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 November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280). The amendments in this ASU require disclosures, on an annual and interim basis, of significant segment expenses that are regularly provided to the Chief Operating Decision Maker (“CODM”), as well as the aggregate amount of other segment items included in the reported measure of segment profit or loss. This ASU requires that a public entity disclose the title and position of the CODM and an explanation of how the CODM uses the reported measure(s) of segment profit or loss. Public entities will be required to provide all annual disclosures currently required by Topic 280 in interim periods, and entities with a single reportable segment are required to provide all the disclosures required by the amendments in the update and existing segment disclosures in Topic 280. This ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, and requires retrospective adoption. Early adoption is permitted. The Company will adopt this standard beginning with our fiscal year ending December 31, 2024. The Company is currently evaluating these new disclosure requirements and does not expect the adoption to have a material impact. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures , which is intended to enhance the transparency, decision usefulness and effectiveness of income tax disclosures. The amendments in this ASU require a public entity to disclose a tabular tax rate reconciliation, using both percentages and currency, with specific categories. A public entity is also required to provide a qualitative description of the states and local jurisdictions that make up the majority of the effect of the state and local income tax category and the net amount of income taxes paid, disaggregated by federal, state and foreign taxes and also disaggregated by individual jurisdictions. The amendments also remove certain disclosures that are no longer considered cost beneficial. The amendments are effective prospectively for annual periods beginning after December 15, 2024, and early adoption and retrospective application are permitted. The Company is currently evaluating the impact of these new disclosure requirements on its condensed consolidated financial statements.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition The Company’s revenue from contracts with customers is derived from online casino, online sports betting, retail sports betting and social gaming. Online casino and online sports betting Online casino offerings typically include the full suite of games available in land-based casinos, such as 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 changes in unsettled bets and 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 and unclaimed retail tickets for settled retail bets. Social gaming The Company provides a social gaming platform for users to enjoy free-to-play games that use virtual credits. While virtual credits are issued to users for free, some users may choose to purchase additional virtual credits through the Company’s virtual cashier. The Company has a single performance obligation associated with social gaming services, to provide social gaming services to users upon the redemption of virtual credits. Deferred revenue is recorded when users purchase virtual credits and revenue is recognized when the virtual credits are redeemed and the Company’s performance obligation has been fulfilled. Disaggregation of revenue for the three months ended March 31, 2024 and 2023, was as follows: Three Months Ended ($ in thousands) 2024 2023 Online casino and online sports betting $ 215,622 $ 157,672 Retail sports betting 708 3,663 Social gaming 1,098 1,026 Total revenue $ 217,428 $ 162,361 Revenue by geographic region for the three months ended March 31, 2024 and 2023, was as follows: Three Months Ended ($ in thousands) 2024 2023 United States and Canada $ 188,537 $ 146,697 Latin America, including Mexico 28,891 15,664 Total revenue $ 217,428 $ 162,361 Deferred revenue associated with online casino and online sports betting revenue and retail sports betting revenue includes unsettled customer bets and is included within Players’ liabilities in the condensed consolidated balance sheets. The deferred revenue balances as of March 31, 2024 and March 31, 2023 were as follows: Three Months Ended ($ in thousands) 2024 2023 Deferred revenue, beginning of period $ 7,013 $ 7,840 Deferred revenue, end of period $ 8,275 $ 8,017 Revenue recognized during the period from amounts included in deferred revenue at the beginning of the period $ 6,312 $ 7,056

Intangible Assets, Net

Intangible Assets, Net	3 Months Ended
	Mar. 31, 2024
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Intangible Assets, Net	Intangible Assets, Net The Company had the following intangible assets, net as of March 31, 2024 and December 31, 2023: ($ in thousands) Weighted Gross Accumulated Net License Fees March 31, 2024 7.19 $ 51,960 $ (16,281) $ 35,679 December 31, 2023 7.75 $ 61,015 $ (25,946) $ 35,069 Internally Developed Software March 31, 2024 2.33 $ 49,970 $ (16,005) $ 33,965 December 31, 2023 2.37 $ 43,868 $ (12,601) $ 31,267 Developed Technology March 31, 2024 5.75 $ 5,931 $ (1,668) $ 4,263 December 31, 2023 6.00 $ 5,931 $ (1,483) $ 4,448 Trademark Asset March 31, 2024 3.17 $ 5,088 $ (1,866) $ 3,222 December 31, 2023 3.42 $ 5,088 $ (1,611) $ 3,477 Media Content March 31, 2024 1.55 $ 1,057 $ (280) $ 777 December 31, 2023 1.60 $ 785 $ (172) $ 613 Amortization expense was $6.1 million for the three months ended March 31, 2024 compared to amortization expense of $4.7 million for the same period in 2023.

Property and Equipment, net

Property and Equipment, net	3 Months Ended
	Mar. 31, 2024
Property, Plant and Equipment [Abstract]
Property and Equipment, net	Property and Equipment, net The Company had the following property and equipment, net as of March 31, 2024 and December 31, 2023: ($ in thousands) March 31, December 31, 2023 Computers, software and related equipment $ 4,315 $ 4,259 Operating equipment and servers 3,065 4,779 Furniture 799 782 Leasehold improvements 1,813 1,805 Property and equipment not yet placed into service 628 610 Total property and equipment 10,620 12,235 Less: accumulated depreciation (6,467) (7,641) 4,153 4,594 Finance lease right-of-use assets 5,497 5,519 Less: accumulated amortization (1,437) (1,502) 4,060 4,017 Property and equipment, net $ 8,213 $ 8,611 The Company recorded depreciation expense on property and equipment of $0.6 million and $0.9 million for the three months ended March 31, 2024 and 2023, respectively. The Company recorded amortization expense on finance lease right-of-use assets of $0.4 million and $0.2 million for the three months ended March 31, 2024 and 2023, respectively.

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	3 Months Ended
	Mar. 31, 2024
Payables and Accruals [Abstract]
Accrued Expenses and Other Current Liabilities	Accrued Expenses and Other Current Liabilities The Company has the following accrued expenses as of March 31, 2024 and December 31, 2023: ($ in thousands) March 31, December 31, Accrued operating expenses $ 36,802 $ 21,748 Accrued marketing expenses 12,719 9,319 Accrued compensation and related expenses 9,059 13,781 Accrued administrative expenses 5,464 5,506 Other 577 777 Total accrued expenses $ 64,621 $ 51,131 Other current liabilities includes income tax payable totaling $12.4 million and $8.1 million as of March 31, 2024 and December 31, 2023, respectively. Other current liabilities also includes license fees payable of $2.4 million and nil as of March 31, 2024 and December 31, 2023, respectively.

Stockholder's Equity

Stockholder's Equity	3 Months Ended
	Mar. 31, 2024
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 64.64% and 67.51% of the RSILP Units outstanding as of March 31, 2024 and December 31, 2023, respectively. The table below illustrates a rollforward of the non-controlling interests’ ownership during the three months ended March 31, 2024: Non-Controlling Interest % Non-controlling interests ownership % as of December 31, 2023: 67.51 % Issuance of Class A Common Stock upon RSILP Unit Exchanges (2.26) % Issuance of Class A Common Stock in connection with the vesting of certain share-based equity grants (0.61) % Non-controlling interests ownership % as of March 31, 2024: 64.64 % Non-controlling interests owned 69.65% and 70.55% of the RSILP Units outstanding, as of March 31, 2023 and December 31, 2022, respectively. The table below illustrates a rollforward of the non-controlling interests’ ownership during the three months ended March 31, 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 (0.68) % Issuance of Class A Common Stock in connection with the vesting of certain share-based equity grants (0.22) % Non-controlling interests ownership % as of March 31, 2023: 69.65 %

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	Mar. 31, 2024
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. In 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 1,813,694 and 2,479,719 RSUs with service conditions, during the three months ended March 31, 2024 and 2023, respectively. RSUs with service conditions generally vest over a three The Company granted 1,152,122 and 1,463,602 RSUs with market-based conditions (e.g., share price targets, total shareholder return) during the three months ended March 31, 2024 and 2023, 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 three months ended March 31: 2024 2023 Volatility rate 68.48 % 69.78 % Risk-free interest rate 4.55 % 3.85 % Average expected life (in years) 2.8 2.8 Dividend yield None None Stock price at grant date $ 5.79 $ 3.28 The Company granted 630,897 and 1,061,454 stock options during the three months ended March 31, 2024 and 2023, 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 three months ended March 31: 2024 2023 Volatility rate 68.00 % 70.00 % Risk-free interest rate 4.30 % 3.80 % Average expected life (in years) 6.0 6.0 Dividend yield None None Stock price at grant date $ 5.79 $ 3.28 Exercise price $ 5.79 $ 3.28 RSU activity for the three months ended March 31, 2024 and 2023 was as follows: Number of units Weighted-average Unvested balance at December 31, 2023 9,218,142 $ 5.70 Granted 2,965,816 7.06 Vested (1) (1,532,353) 3.92 Forfeited (3,264) 3.59 Unvested balance at March 31, 2024 10,648,341 $ 6.34 Unvested balance at December 31, 2022 7,492,613 $ 7.48 Granted 3,943,321 4.12 Vested (1) (902,759) 4.03 Forfeited (4,216) 8.81 Unvested balance at March 31, 2023 10,528,959 $ 6.52 ______________________________ (1) Includes 279,061 and 200,000 of RSUs that vested during the three months ended March 31, 2024 and 2023, respectively, but the resulting shares of Class A Common Stock have not yet been issued. There were 530,780 and 836,917 RSUs that vested for which the resulting shares of Class A Common Stock were not issued as of March 31, 2024 and 2023, respectively. Stock option activity for the three months ended March 31, 2024 and 2023 was as follows: Number of options Weighted-average Outstanding balance at December 31, 2023 1,971,611 $ 4.16 Granted 630,897 5.79 Exercised — — Forfeited — — Outstanding balance at March 31, 2024 2,602,508 $ 4.56 Exercisable balance at March 31, 2024 689,487 $ 4.69 Outstanding balance at December 31, 2022 887,166 $ 5.24 Granted 1,061,454 3.28 Exercised — — Forfeited — — Outstanding balance at March 31, 2023 1,948,620 $ 4.21 The aggregate fair value of the RSUs granted during the three months ended March 31, 2024 and 2023, was approximately $20.9 million and $16.3 million, respectively. The aggregate grant date fair value of RSUs vested during the three months ended March 31, 2024 and 2023 was approximately $6.0 million and $3.6 million, respectively. The weighted-average grant-date fair values of options granted during the three months ended March 31, 2024 and 2023 was $3.74 and $2.14, respectively. The aggregate fair value of stock options granted during the three months ended March 31, 2024 and 2023 was approximately $2.4 million and $2.3 million, respectively. The outstanding stock options and exercisable stock options as of March 31, 2024 had an intrinsic value of $5.9 million and $1.8 million, respectively. As of March 31, 2024, the Company had unrecognized share-based compensation expense related to RSUs of $50.7 million. The outstanding RSUs had a remaining weighted-average vesting period of 1.10 years as of March 31, 2024. As of March 31, 2024, the Company had unrecognized share-based compensation expense related to stock options of $4.7 million. The outstanding options had a remaining weighted-average vesting period of 1.22 years as of March 31, 2024. Share-based compensation expense for the three months ended March 31, 2024 and 2023 was as follows: Three Months Ended March 31, ($ in thousands) 2024 2023 Costs of revenue $ 270 $ 257 Advertising and promotions 570 536 General and administrative 7,585 6,882 Total share-based compensation expense $ 8,425 $ 7,675

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The income tax provision for the three months ended March 31, 2024 and 2023 was as follows: Three Months Ended March 31, ($ in thousands) 2024 2023 Income tax provision $ 5,300 $ 2,800 The Company recognized federal, state and foreign income tax expense of $5.3 million and $2.8 million during the three months ended March 31, 2024 and 2023, respectively. The effective tax rates for the three months ended March 31, 2024 and 2023 were 171.5% and (13.3)%, respectively. The difference between the Company’s effective tax rate and the U.S. statutory tax rate of 21% was primarily due to a full valuation allowance recorded on the Company’s net U.S. deferred tax assets, 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 connection with the Business Combination, the Special Limited Partner entered into the TRA, 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 TRA, including tax benefits attributable to payments under the TRA. 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 TRA, 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 TRA; therefore, management applies a full valuation allowance to deferred tax asset or a corresponding liability under the TRA 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 TRA liability as of March 31, 2024 and December 31, 2023 was $73.6 million and $63.7 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 TRA 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	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Net Loss Per Share	Net loss Per Share The basic and diluted net loss per share for the three months ended March 31, 2024 and 2023 were as follows (amounts in thousands, except for share and per share amounts): Three Months Ended 2024 2023 Numerator: Net loss $ (2,209) $ (24,500) Less: Net loss attributable to non-controlling interests (1,482) (17,240) Net loss attributable to Rush Street Interactive, Inc. – basic and diluted $ (727) $ (7,260) Denominator: Weighted average common shares outstanding – basic and diluted 76,027,427 65,260,064 Net loss per Class A common share – basic and diluted $ (0.01) $ (0.11) The Class V Common Stock does not participate in the Company’s earnings or losses and is therefore not a participating security. As such, separate presentation of basic and diluted earnings per share of Class V Common Stock under the two-class method has not been presented. The Company excluded the following securities from its computation of diluted shares outstanding as their effect would have been anti-dilutive: Three Months Ended March 31, 2024 2023 RSILP Units (1) 145,384,310 154,455,584 Unvested RSUs 10,648,341 10,528,959 Vested RSUs (Class A Common Stock not yet issued) 530,780 836,917 Outstanding Stock Options 2,602,508 1,948,620 _____________________________________ (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.

Related Parties

Related Parties	3 Months Ended
	Mar. 31, 2024
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 $15.6 million and $7.7 million for the three months ended March 31, 2024 and 2023, 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 $20.6 million and $33.5 million at March 31, 2024 and December 31, 2023, 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 months ended March 31, 2024 and 2023 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.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2024
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 2024 $ 13,554 Year ending December 31, 2025 9,065 Year ending December 31, 2026 5,965 Year ending December 31, 2027 6,142 Year ending December 31, 2028 4,777 Thereafter 23,843 Total (1) $ 63,346 _____________________________________ (1) Includes obligations under license and market access commitments totaling $43.7 million, obligations under non-cancelable contracts with marketing vendors totaling $13.0 million and non-cancelable lease contracts totaling $6.6 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
	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net Income (Loss) Attributable to Parent	$ (727)	$ (7,260)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024
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)	3 Months Ended
	Mar. 31, 2024
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 consolidated 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, 2023 included in the Company’s Annual Report on Form 10-K, as filed with the SEC on March 7, 2024. 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 March 31, 2024, the Company owned 35.36% of the RSILP Units and the holders of the non-controlling interest owned 64.64% of the RSILP Units. Interim Unaudited Condensed Consolidated Financial Statements The accompanying condensed consolidated balance sheet as of March 31, 2024 and the condensed consolidated statements of operations, comprehensive loss, changes in equity and cash flows for the three months ended March 31, 2024 and 2023 are unaudited. The condensed consolidated balance sheet as of December 31, 2023 was derived from audited consolidated financial statements, but may omit certain disclosures required by U.S. GAAP previously disclosed in the most recent annual consolidated 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 months ended March 31, 2024 are not necessarily indicative of the results to be expected for the full year or any future period.
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 Estimates
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, money market funds 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.
Prepaid Expenses and Other Current Assets	Prepaid Expenses and Other Current Assets
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 losses were $0.4 million for the three months ended March 31, 2024 compared to gains of $0.4 million for the same period in 2023. Amounts are recorded in general and administrative on the Company’s unaudited condensed consolidated statements of operations.
Recent Accounting Pronouncements Adopted And Not Yet Adopted	Recently Adopted Accounting Pronouncements 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 in calendar year 2024. The Company adopted ASU 2020-6 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 November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280). The amendments in this ASU require disclosures, on an annual and interim basis, of significant segment expenses that are regularly provided to the Chief Operating Decision Maker (“CODM”), as well as the aggregate amount of other segment items included in the reported measure of segment profit or loss. This ASU requires that a public entity disclose the title and position of the CODM and an explanation of how the CODM uses the reported measure(s) of segment profit or loss. Public entities will be required to provide all annual disclosures currently required by Topic 280 in interim periods, and entities with a single reportable segment are required to provide all the disclosures required by the amendments in the update and existing segment disclosures in Topic 280. This ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, and requires retrospective adoption. Early adoption is permitted. The Company will adopt this standard beginning with our fiscal year ending December 31, 2024. The Company is currently evaluating these new disclosure requirements and does not expect the adoption to have a material impact. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures , which is intended to enhance the transparency, decision usefulness and effectiveness of income tax disclosures. The amendments in this ASU require a public entity to disclose a tabular tax rate reconciliation, using both percentages and currency, with specific categories. A public entity is also required to provide a qualitative description of the states and local jurisdictions that make up the majority of the effect of the state and local income tax category and the net amount of income taxes paid, disaggregated by federal, state and foreign taxes and also disaggregated by individual jurisdictions. The amendments also remove certain disclosures that are no longer considered cost beneficial. The amendments are effective prospectively for annual periods beginning after December 15, 2024, and early adoption and retrospective application are permitted. The Company is currently evaluating the impact of these new disclosure requirements on its condensed consolidated financial statements.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Summary of Disaggregation of Revenue	Disaggregation of revenue for the three months ended March 31, 2024 and 2023, was as follows: Three Months Ended ($ in thousands) 2024 2023 Online casino and online sports betting $ 215,622 $ 157,672 Retail sports betting 708 3,663 Social gaming 1,098 1,026 Total revenue $ 217,428 $ 162,361
Summary of Revenue by Geographic Region	Revenue by geographic region for the three months ended March 31, 2024 and 2023, was as follows: Three Months Ended ($ in thousands) 2024 2023 United States and Canada $ 188,537 $ 146,697 Latin America, including Mexico 28,891 15,664 Total revenue $ 217,428 $ 162,361
Summary of Deferred Revenue	The deferred revenue balances as of March 31, 2024 and March 31, 2023 were as follows: Three Months Ended ($ in thousands) 2024 2023 Deferred revenue, beginning of period $ 7,013 $ 7,840 Deferred revenue, end of period $ 8,275 $ 8,017 Revenue recognized during the period from amounts included in deferred revenue at the beginning of the period $ 6,312 $ 7,056

Intangible Assets, Net (Tables)

Intangible Assets, Net (Tables)	3 Months Ended
	Mar. 31, 2024
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Schedule of Intangible Assets, Net	The Company had the following intangible assets, net as of March 31, 2024 and December 31, 2023: ($ in thousands) Weighted Gross Accumulated Net License Fees March 31, 2024 7.19 $ 51,960 $ (16,281) $ 35,679 December 31, 2023 7.75 $ 61,015 $ (25,946) $ 35,069 Internally Developed Software March 31, 2024 2.33 $ 49,970 $ (16,005) $ 33,965 December 31, 2023 2.37 $ 43,868 $ (12,601) $ 31,267 Developed Technology March 31, 2024 5.75 $ 5,931 $ (1,668) $ 4,263 December 31, 2023 6.00 $ 5,931 $ (1,483) $ 4,448 Trademark Asset March 31, 2024 3.17 $ 5,088 $ (1,866) $ 3,222 December 31, 2023 3.42 $ 5,088 $ (1,611) $ 3,477 Media Content March 31, 2024 1.55 $ 1,057 $ (280) $ 777 December 31, 2023 1.60 $ 785 $ (172) $ 613

Property and Equipment, net (Ta

Property and Equipment, net (Tables)	3 Months Ended
	Mar. 31, 2024
Property, Plant and Equipment [Abstract]
Property and Equipment	The Company had the following property and equipment, net as of March 31, 2024 and December 31, 2023: ($ in thousands) March 31, December 31, 2023 Computers, software and related equipment $ 4,315 $ 4,259 Operating equipment and servers 3,065 4,779 Furniture 799 782 Leasehold improvements 1,813 1,805 Property and equipment not yet placed into service 628 610 Total property and equipment 10,620 12,235 Less: accumulated depreciation (6,467) (7,641) 4,153 4,594 Finance lease right-of-use assets 5,497 5,519 Less: accumulated amortization (1,437) (1,502) 4,060 4,017 Property and equipment, net $ 8,213 $ 8,611

Accrued Expenses and Other Cu_2

Accrued Expenses and Other Current Liabilities (Tables)	3 Months Ended
	Mar. 31, 2024
Payables and Accruals [Abstract]
Schedule of Accrued Expenses	The Company has the following accrued expenses as of March 31, 2024 and December 31, 2023: ($ in thousands) March 31, December 31, Accrued operating expenses $ 36,802 $ 21,748 Accrued marketing expenses 12,719 9,319 Accrued compensation and related expenses 9,059 13,781 Accrued administrative expenses 5,464 5,506 Other 577 777 Total accrued expenses $ 64,621 $ 51,131

Stockholder's Equity (Tables)

Stockholder's Equity (Tables)	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Schedule of Noncontrolling Interests	The table below illustrates a rollforward of the non-controlling interests’ ownership during the three months ended March 31, 2024: Non-Controlling Interest % Non-controlling interests ownership % as of December 31, 2023: 67.51 % Issuance of Class A Common Stock upon RSILP Unit Exchanges (2.26) % Issuance of Class A Common Stock in connection with the vesting of certain share-based equity grants (0.61) % Non-controlling interests ownership % as of March 31, 2024: 64.64 % Non-controlling interests owned 69.65% and 70.55% of the RSILP Units outstanding, as of March 31, 2023 and December 31, 2022, respectively. The table below illustrates a rollforward of the non-controlling interests’ ownership during the three months ended March 31, 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 (0.68) % Issuance of Class A Common Stock in connection with the vesting of certain share-based equity grants (0.22) % Non-controlling interests ownership % as of March 31, 2023: 69.65 %

Share-Based Compensation (Table

Share-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2024
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 three months ended March 31: 2024 2023 Volatility rate 68.48 % 69.78 % Risk-free interest rate 4.55 % 3.85 % Average expected life (in years) 2.8 2.8 Dividend yield None None Stock price at grant date $ 5.79 $ 3.28 2024 2023 Volatility rate 68.00 % 70.00 % Risk-free interest rate 4.30 % 3.80 % Average expected life (in years) 6.0 6.0 Dividend yield None None Stock price at grant date $ 5.79 $ 3.28 Exercise price $ 5.79 $ 3.28
Schedule of Stock Option Activity	RSU activity for the three months ended March 31, 2024 and 2023 was as follows: Number of units Weighted-average Unvested balance at December 31, 2023 9,218,142 $ 5.70 Granted 2,965,816 7.06 Vested (1) (1,532,353) 3.92 Forfeited (3,264) 3.59 Unvested balance at March 31, 2024 10,648,341 $ 6.34 Unvested balance at December 31, 2022 7,492,613 $ 7.48 Granted 3,943,321 4.12 Vested (1) (902,759) 4.03 Forfeited (4,216) 8.81 Unvested balance at March 31, 2023 10,528,959 $ 6.52 ______________________________ (1) Includes 279,061 and 200,000 of RSUs that vested during the three months ended March 31, 2024 and 2023, respectively, but the resulting shares of Class A Common Stock have not yet been issued. There were 530,780 and 836,917 RSUs that vested for which the resulting shares of Class A Common Stock were not issued as of March 31, 2024 and 2023, respectively. Stock option activity for the three months ended March 31, 2024 and 2023 was as follows: Number of options Weighted-average Outstanding balance at December 31, 2023 1,971,611 $ 4.16 Granted 630,897 5.79 Exercised — — Forfeited — — Outstanding balance at March 31, 2024 2,602,508 $ 4.56 Exercisable balance at March 31, 2024 689,487 $ 4.69 Outstanding balance at December 31, 2022 887,166 $ 5.24 Granted 1,061,454 3.28 Exercised — — Forfeited — — Outstanding balance at March 31, 2023 1,948,620 $ 4.21
Schedule of Restricted Stock Unit Activity	RSU activity for the three months ended March 31, 2024 and 2023 was as follows: Number of units Weighted-average Unvested balance at December 31, 2023 9,218,142 $ 5.70 Granted 2,965,816 7.06 Vested (1) (1,532,353) 3.92 Forfeited (3,264) 3.59 Unvested balance at March 31, 2024 10,648,341 $ 6.34 Unvested balance at December 31, 2022 7,492,613 $ 7.48 Granted 3,943,321 4.12 Vested (1) (902,759) 4.03 Forfeited (4,216) 8.81 Unvested balance at March 31, 2023 10,528,959 $ 6.52 ______________________________ (1) Includes 279,061 and 200,000 of RSUs that vested during the three months ended March 31, 2024 and 2023, respectively, but the resulting shares of Class A Common Stock have not yet been issued. There were 530,780 and 836,917 RSUs that vested for which the resulting shares of Class A Common Stock were not issued as of March 31, 2024 and 2023, respectively. Stock option activity for the three months ended March 31, 2024 and 2023 was as follows: Number of options Weighted-average Outstanding balance at December 31, 2023 1,971,611 $ 4.16 Granted 630,897 5.79 Exercised — — Forfeited — — Outstanding balance at March 31, 2024 2,602,508 $ 4.56 Exercisable balance at March 31, 2024 689,487 $ 4.69 Outstanding balance at December 31, 2022 887,166 $ 5.24 Granted 1,061,454 3.28 Exercised — — Forfeited — — Outstanding balance at March 31, 2023 1,948,620 $ 4.21
Schedule of Share-based Compensation Expense	Share-based compensation expense for the three months ended March 31, 2024 and 2023 was as follows: Three Months Ended March 31, ($ in thousands) 2024 2023 Costs of revenue $ 270 $ 257 Advertising and promotions 570 536 General and administrative 7,585 6,882 Total share-based compensation expense $ 8,425 $ 7,675

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Schedule of Income Tax Provision	The income tax provision for the three months ended March 31, 2024 and 2023 was as follows: Three Months Ended March 31, ($ in thousands) 2024 2023 Income tax provision $ 5,300 $ 2,800

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Loss per Share	The basic and diluted net loss per share for the three months ended March 31, 2024 and 2023 were as follows (amounts in thousands, except for share and per share amounts): Three Months Ended 2024 2023 Numerator: Net loss $ (2,209) $ (24,500) Less: Net loss attributable to non-controlling interests (1,482) (17,240) Net loss attributable to Rush Street Interactive, Inc. – basic and diluted $ (727) $ (7,260) Denominator: Weighted average common shares outstanding – basic and diluted 76,027,427 65,260,064 Net loss per Class A common share – basic and diluted $ (0.01) $ (0.11)
Schedule of Anti-dilutive Securities Excluded from Computation of Diluted Shares Outstanding	The Company excluded the following securities from its computation of diluted shares outstanding as their effect would have been anti-dilutive: Three Months Ended March 31, 2024 2023 RSILP Units (1) 145,384,310 154,455,584 Unvested RSUs 10,648,341 10,528,959 Vested RSUs (Class A Common Stock not yet issued) 530,780 836,917 Outstanding Stock Options 2,602,508 1,948,620 _____________________________________ (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.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2024
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 2024 $ 13,554 Year ending December 31, 2025 9,065 Year ending December 31, 2026 5,965 Year ending December 31, 2027 6,142 Year ending December 31, 2028 4,777 Thereafter 23,843 Total (1) $ 63,346 _____________________________________ (1) Includes obligations under license and market access commitments totaling $43.7 million, obligations under non-cancelable contracts with marketing vendors totaling $13.0 million and non-cancelable lease contracts totaling $6.6 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) $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022
Accounting Policies [Line Items]
Prepaid expense, current	$ 9.1		$ 7.5
Short-term investments	3.2		3.1
Foreign currency gains and losses	(0.4)	$ 0.4
Surety Bond
Accounting Policies [Line Items]
Surety bonds	30		28
Surety Bond, Regulatory Requirements Necessary to Operate
Accounting Policies [Line Items]
Surety bonds	$ 4.6		$ 4.6
RSILP | Owners Other Than Rush Street Interactive
Accounting Policies [Line Items]
Percentage of common units retained by sellers	64.64%	69.65%	67.51%	70.55%
RSILP Acquisition | RSILP
Accounting Policies [Line Items]
Ownership percentage by controlling owners	0.3536

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Disaggregation of Revenue [Line Items]
Total revenue	$ 217,428	$ 162,361
Online casino and online sports betting
Disaggregation of Revenue [Line Items]
Total revenue	215,622	157,672
Retail sports betting
Disaggregation of Revenue [Line Items]
Total revenue	708	3,663
Social gaming
Disaggregation of Revenue [Line Items]
Total revenue	$ 1,098	$ 1,026

Revenue Recognition - Revenue b

Revenue Recognition - Revenue by Geographic Region (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Disaggregation of Revenue [Line Items]
Total revenue	$ 217,428	$ 162,361
United States and Canada
Disaggregation of Revenue [Line Items]
Total revenue	188,537	146,697
Latin America, including Mexico
Disaggregation of Revenue [Line Items]
Total revenue	$ 28,891	$ 15,664

Revenue Recognition - Deferred

Revenue Recognition - Deferred revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Deferred revenue, beginning of period	$ 7,013	$ 7,840
Deferred revenue, end of period	8,275	8,017
Revenue recognized during the period from amounts included in deferred revenue at the beginning of the period	$ 6,312	$ 7,056

Intangible Assets, Net (Details

Intangible Assets, Net (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Net	$ 77,906		$ 74,874
Amortization expense	$ 6,100	$ 4,700
License Fees
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Amortization Period (years)	7 years 2 months 8 days		7 years 9 months
Gross Carrying Amount	$ 51,960		$ 61,015
Accumulated Amortization	(16,281)		(25,946)
Net	$ 35,679		$ 35,069
Internally Developed Software
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Amortization Period (years)	2 years 3 months 29 days		2 years 4 months 13 days
Gross Carrying Amount	$ 49,970		$ 43,868
Accumulated Amortization	(16,005)		(12,601)
Net	$ 33,965		$ 31,267
Developed Technology
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Amortization Period (years)	5 years 9 months		6 years
Gross Carrying Amount	$ 5,931		$ 5,931
Accumulated Amortization	(1,668)		(1,483)
Net	$ 4,263		$ 4,448
Trademark Asset
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Amortization Period (years)	3 years 2 months 1 day		3 years 5 months 1 day
Gross Carrying Amount	$ 5,088		$ 5,088
Accumulated Amortization	(1,866)		(1,611)
Net	$ 3,222		$ 3,477
Media Content
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Amortization Period (years)	1 year 6 months 18 days		1 year 7 months 6 days
Gross Carrying Amount	$ 1,057		$ 785
Accumulated Amortization	(280)		(172)
Net	$ 777		$ 613

Property and Equipment, net - N

Property and Equipment, net - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense	$ 0.6	$ 0.9
Amortization expense	$ 0.4	$ 0.2

Property and Equipment, net (De

Property and Equipment, net (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Property and equipment, net
Property and equipment	$ 10,620	$ 12,235
Less: accumulated depreciation	(6,467)	(7,641)
Property and equipment, net	4,153	4,594
Finance lease right-of-use assets	5,497	5,519
Less: accumulated amortization	(1,437)	(1,502)
Finance lease, right-of-use asset, after accumulated amortization	4,060	4,017
Property and equipment, net	8,213	8,611
Computers, software and related equipment
Property and equipment, net
Property and equipment	4,315	4,259
Operating equipment and servers
Property and equipment, net
Property and equipment	3,065	4,779
Furniture
Property and equipment, net
Property and equipment	799	782
Leasehold improvements
Property and equipment, net
Property and equipment	1,813	1,805
Property and equipment not yet placed into service
Property and equipment, net
Property and equipment	$ 628	$ 610

Accrued Expenses and Other Cu_3

Accrued Expenses and Other Current Liabilities - Schedule of Accrued Expenses (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Supplier Finance Program [Line Items]
Accrued operating expenses	$ 36,802	$ 21,748
Accrued marketing expenses	12,719	9,319
Accrued compensation and related expenses	9,059	13,781
Accrued administrative expenses	5,464	5,506
Total accrued expenses	64,621	51,131
Nonrelated Party
Supplier Finance Program [Line Items]
Other	$ 577	$ 777

Accrued Expenses and Other Cu_4

Accrued Expenses and Other Current Liabilities (Details) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Payables and Accruals [Abstract]
Income tax payable	$ 12,400,000	$ 8,100,000
License fee payable	$ 2,400,000	$ 0

Stockholder's Equity - Narrativ

Stockholder's Equity - Narrative (Details)	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
RSILP | Owners Other Than Rush Street Interactive
Class of Stock [Line Items]
Percentage of common units retained by sellers	64.64%	67.51%	69.65%	70.55%

Stockholder's Equity - Schedule

Stockholder's Equity - Schedule of Noncontrolling Interests (Details) - RSILP - Owners Other Than Rush Street Interactive	3 Months Ended
	Mar. 31, 2024 Rate	Mar. 31, 2023
Noncontrolling Interest [Roll Forward]
Non-controlling interest ownership percentage at beginning of period	67.51%	70.55%
Issuance of Class A Common Stock upon RSILP Unit Exchanges	(0.0226)	(0.0068)
Non-controlling interest ownership percentage at end of period	64.64%	69.65%
Class A Common Stock
Noncontrolling Interest [Roll Forward]
Issuance of Class A Common Stock in connection with the vesting of certain share-based equity grants	(0.61%)	(0.0022)

Share-Based Compensation - Narr

Share-Based Compensation - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted (in shares)	630,897	1,061,454
Aggregate fair value of options granted	$ 2.4	$ 2.3
Intrinsic value of options outstanding	5.9
Intrinsic value of options exercisable	$ 1.8
Market-Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units granted (in shares)	2,965,816	3,943,321
Aggregate fair value of units granted	$ 20.9	$ 16.3
Weighted average grant date fair value	6	$ 3.6
Unrecognized stock-based compensation expense	$ 50.7
Weighted-average vesting period of unrecognized stock-based compensation expense	1 year 1 month 6 days
Outstanding Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant price of options granted (in USD per share)	$ 3.74	$ 2.14
Unrecognized stock-based compensation expense	$ 4.7
Weighted-average vesting period of unrecognized stock-based compensation expense	1 year 2 months 19 days
Restricted Stock Units, Service Conditions
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units granted (in shares)	1,813,694	2,479,719
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
Restricted Stock Units, Market Conditions
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units granted (in shares)	1,152,122	1,463,602
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)	35,800,000		22,400,000

Share-Based Compensation - Valu

Share-Based Compensation - Valuation Assumptions (Details) - $ / shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility rate	68.48%	69.78%
Risk-free interest rate	4.55%	3.85%
Average expected life (in years)	2 years 9 months 18 days	2 years 9 months 18 days
Dividend yield	0%	0%
Share price (in USD per share)	$ 5.79	$ 3.28
Outstanding Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility rate	68%	70%
Risk-free interest rate	4.30%	3.80%
Average expected life (in years)	6 years	6 years
Dividend yield	0%	0%
Share price (in USD per share)	$ 5.79	$ 3.28
Exercise price (in USD per share)	$ 5.79	$ 3.28

Share-Based Compensation - RSU

Share-Based Compensation - RSU and Stock Option Activity (Details) - $ / shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Unvested options outstanding at beginning of period (in shares)	1,971,611	887,166
Options granted (in shares)	630,897	1,061,454
Exercised (in shares)	0	0
Options forfeited (in shares)	0	0
Unvested options outstanding at end of period (in shares)	2,602,508	1,948,620
Exercisable balance (in shares)	689,487
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)	$ 4.16	$ 5.24
Weighted average grant price of options granted (in USD per share)	5.79	3.28
Weighted average grant price of options exercised (in USD per share)	0	0
Weighted average grant price of options forfeited (in USD per share)	0	0
Weighted average grant price of options outstanding at end of period (in USD per share)	4.56	$ 4.21
Weighted average grant price of options exercisable (in USD per share)	$ 4.69
Vested RSUs (Class A Common Stock not yet issued)
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)	530,780	836,917
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)	9,218,142	7,492,613
Units granted (in shares)	2,965,816	3,943,321
Units vested (in shares)	(1,532,353)	(902,759)
Units forfeited (in shares)	(3,264)	(4,216)
Unvested units outstanding at end of period (in shares)	10,648,341	10,528,959
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)	$ 5.70	$ 7.48
Weighted average grant price of units granted (in USD per shares)	7.06	4.12
Weighted average grant price of units vested (in USD per shares)	3.92	4.03
Weighted average grant price of units forfeited (in USD per shares)	3.59	8.81
Weighted average grant price of unvested units outstanding at end of period (in USD per shares)	$ 6.34	$ 6.52
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)	279,061	200,000

Share-Based Compensation - Shar

Share-Based Compensation - Share-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	$ 8,425	$ 7,675
Costs of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	270	257
Advertising and promotions
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	570	536
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	$ 7,585	$ 6,882

Income Taxes - Schedule of Inco

Income Taxes - Schedule of Income Tax Provision (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Income tax provision	$ 5,300	$ 2,800

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Income Tax [Line Items]
Income tax expense	$ 5,300	$ 2,800
Effective tax rates	171.50%	(13.30%)
Unrecognized tax receivable agreement liability	$ 73,600		$ 63,700
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
	Mar. 31, 2024	Mar. 31, 2023
Numerator:
Net loss	$ (2,209)	$ (24,500)
Net loss attributable to non-controlling interests	(1,482)	(17,240)
Net loss attributable to Rush Street Interactive, Inc. – basic and diluted	$ (727)	$ (7,260)
Denominator:
Weighted average common shares outstanding - basic (in shares)	76,027,427	65,260,064
Weighted average number of shares outstanding - diluted (in shares)	76,027,427	65,260,064
Net loss per Class A common share - basic (in USD per share)	$ (0.01)	$ (0.11)
Net loss per Class A common share - diluted (in USD per share)	$ (0.01)	$ (0.11)

Net Loss Per Share - Schedule_2

Net Loss Per Share - Schedule of Anti-dilutive Securities (Details) - shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
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)	145,384,310	154,455,584
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)	10,648,341	10,528,959
Vested RSUs (Class A Common Stock not yet issued)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of diluted shares outstanding (in shares)	530,780	836,917
Outstanding 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)	2,602,508	1,948,620

Related Parties (Details)

Related Parties (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
RSG | Service Agreements
Related Party Transaction [Line Items]
Expenses relating to related party	$ 15.6	$ 7.7
Affiliated Land-Based Casinos | Royalty Agreements
Related Party Transaction [Line Items]
Due from affiliates	$ 20.6		$ 33.5

Commitments and Contingencies_2

Commitments and Contingencies (Details) $ in Thousands	Mar. 31, 2024 USD ($)
Loss Contingencies [Line Items]
Remainder of 2024	$ 13,554
Year ending December 31, 2025	9,065
Year ending December 31, 2026	5,965
Year ending December 31, 2027	6,142
Year ending December 31, 2028	4,777
Thereafter	23,843
Total	63,346
Non-cancelable Lease Contract
Loss Contingencies [Line Items]
Operating and finance lease obligations	6,600
Non-cancelable Lease Contract with Marketing Vendors
Loss Contingencies [Line Items]
Operating and finance lease obligations	13,000
License and Market Access Commitments
Loss Contingencies [Line Items]
Operating and finance lease obligations	$ 43,700