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Rhode Island, the small state, is all set to introduce sports betting, making it the pioneering New England state to embrace this form of gambling.
On Monday, November 26th at 3 p.m. ET, Twin River Casino in Lincoln, RI will commence accepting wagers at their casino sportsbook. This operation will be carried out by the state lottery, alongside renowned US sports betting operator William Hill and software provider IGT.
William Hill and IGT have partnered up, with IGT assuming the role of the official sportsbook partner. This partnership includes the provision of odds and a range of other sports-betting services.
Moreover, it has been reported that Twin River Tiverton Casino and Hotel in Tiverton, Rhode Island, will introduce sports betting kiosks in December, enabling its patrons to place bets through the sportsbook. It is worth mentioning that the Tiverton casino commenced operations on September 1st.
The sportsbook at Twin River will be opened in multiple phases, according to Patti Doyle, spokesperson for the property.
During phase one, the casino will begin accepting sports bets in the newly renovated smoke-free racebook area located on the third floor. In phase two, the casino will introduce an interactive sportsbook resembling a comfortable lounge, situated on the second floor.
Doyle claims that the lounge-like sportsbook will not be prepared to open until early to mid-December. It will offer extra screens for game viewing and additional seating.
Rhode Island sports betting regulations
According to the Rhode Island Department of Revenue’s projections, the state is expected to generate $23.5 million in revenue from sports betting by the end of the current fiscal year, which concludes on June 30, 2019.
In January 2018, the state approved a Senate budget bill, which granted permission for sports betting at its two casinos. Nonetheless, Governor Gina Raimando postponed signing the bill into law until June.
The launch of all parties involved was anticipated to take place in October 2018. Nevertheless, due to a delay in finalizing the state’s sports betting regulations, the opening of the first sportsbook in the state was postponed until this week.
Sportsbooks are mandated by the law to pay a significant 51 percent of their gross sports betting revenue as taxes to the state. Additionally, the casinos will only receive 17 percent of the gross revenues, as the five-year IGT/William Hill deal will claim an additional 32 percent.
Currently, online and mobile sports wagering is not permitted by the existing law. Nonetheless, lawmakers have made assurances that they will thoroughly examine this matter in the near future. In fact, Dominick J. Ruggerio, the President of the Rhode Island State Senate, expressed his belief that the state will enact legislation in 2019 to authorize online and mobile sports wagering.
Despite the delay in launching, Ruggerio stated that the state sports betting revenue projections from the Department of Revenue should remain accurate.
Betting on the neighbors
The casinos and their sports betting partners in Rhode Island, with a population slightly exceeding 1 million, heavily rely on wagers from neighboring states like Massachusetts and Connecticut.
With a combined population of over 10 million people, Massachusetts and Connecticut have yet to introduce legal sports betting. As a result, Rhode Island has a unique chance to seize the opportunity and attract the highly profitable Northeast sports betting market for the time being.
The launch of sports betting in Connecticut has been delayed until 2019 due to ongoing negotiations with tribal casinos. Additionally, there is no certainty that Massachusetts will pass sports betting legislation in 2019.
US sports betting
Since May, six additional states have implemented legal and regulated sports betting after the Supreme Court invalidated a federal ban. These states include:
- Delaware
- New Jersey
- Mississippi
- West Virginia
- Pennsylvania
- New Mexico
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