Rhode Island sports betting is in full force, as yet another brick and mortar location has opened, this time at Twin River Casino in Tiverton. This opening comes shortly after the opening of the sportsbook at Twin River Casino in Lincoln, which is only about 30 miles away
The casino in Tiverton has only been open since September, and the opening of a sportsbook has only continued to show how fast Rhode Island sports betting is growing in a short time. Being just the eighth state to legalize sports betting, Rhode Island is thrusting itself into the sports betting industry, and is the only place to go in the Northeast to place legal sports wagers.
Rhode Island sports betting isn’t done yet
While Rhode Island sports betting is taking off at brick and mortar locations, there is still no option for online wagering. The Rhode Island Lottery has control over the entire sports betting industry in the state, is available for wagering through an online app. However, sports betting has not yet been made available to Rhode Island gamblers.
A strong draw for the implementation of online Rhode Island sports betting is the fact that the state pulls in 51% of all revenue via sports betting wagers. That sort of potential income is a huge drawing point for lawmakers in the state.
A huge proponent of Rhode Island sports betting, Senator Dominick Ruggerio, is planning on proposing a bill early in 2019 that would allow online wagering in the state. Previously, via a proposed bill called H-8350, which was unsuccessful in its first attempt.
What kind of turnout could we see for Rhode Island sports betting?
According to a recent Oxford Economics study, the state of Rhode Island could see in excess of $1 Billion via online and brick and mortar wagering annually. However, those projections dropped to just $650 Million if all wagering were made simply at physical locations, rather than online or via a mobile app. However, the plan is to implement online and mobile wagering as soon as January of 2019.
Based on the recent success in New Jersey, the upside for Rhode Island sports betting is immense. Legal sports betting is likely to come soon to neighboring states, namely Massachusetts, but with Rhode Island already cementing multiple locations, an online presence could help build a solid clientele before that day comes.
Who benefits the most from Rhode Island sports betting being introduced?
First off, the state would benefit from a sizable increase in revenue. The state would earn 51% of the revenue profit, and the remainder would be divided as follows: the IGT (International Gaming Technology), and William Hill, who sets the sports betting lines, would earn 32%, while the casino would take home 17%.
However, those who benefit the most from this recent opening is Rhode Island sports betting regulars themselves. In a state with limited options, especially in the online realm, the opening of these two sportsbooks provides gamblers with an entire world of options, just a few miles apart.