Rhode Island joins the legalised sports betting vertical

News on 27 Nov 2018

Rhode Island joined those US states that have legalised and are accepting sports bets on Monday when the first bets were accepted at the Twin Rivers Casino, with more locations to come in December.

The casino has partnered with IGT-William Hill in launching the new vertical, which was originally planned for October 1 but has been delayed by regulatory and commercial negotiations.

The late start means that lawmakers will have to recalculate their projected figures, which originally predicted $23.5 million in state taxes though June 2019…analysts have suggested that the figure could be cut by almost half as the delayed start meant that Rhode Island punters missed much of the key National Football League season’s betting.

The Rhode Island dispensation will see the state receiving 51 percent of all revenue from wagering, while the vendor will earn 32 percent, and the casinos will claim the remaining 17 percent.

Initially, betting is being offered on the four major American professional sports leagues, as well as NCAA football and basketball contests, with other sports added to the list of options in the future.

State law prevents gamblers from wagering on Rhode Island college teams.

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