On Thursday, Jan. 16, Rhode Island Senator President Dominick Ruggerio put forth a new bill that would legalize mobile RI sports betting. Not long ago, Twin River Casino at Tiverton had the honors of becoming the second Rhode Island sportsbook to open its doors only three months after the 33,600 sq. ft. casino opened. The Tiverton sportsbook now joins Twin River Sportsbook in Lincoln.
What Is In The RI Sports Betting Bill?
The legislation, titled Bill 2019-S 0037, would allow the Twin River casinos in Lincoln and Tiverton to offer RI mobile sports betting. The casinos would create a Twin River Sportsbook app for its customers. Location technology would be required to ensure only those in Rhode Island are placing sports bets.
The bill also places a 51 percent in tax on RI online sports betting revenue. The two Twin River casinos are working with William Hill/IGT to offer sports betting. The state receives 51 percent of the sports betting revenue, while IGT receives 32 percent and the casinos would receive 17 percent.
Mobile Rhode Island Sports Betting Is On The Way
The legislative process to allow Rhode Islands sportsbooks to become mobile began in June. Back then, it was the House Finance Committee that blocked a bill Gregg Amore introduced, thus creating a gap between the launch of on-site and online RI sportsbooks.
In the meantime, the Rhode Island Lottery, appointed with the oversight of the sports betting industry in the state. There is also a 51 percent tax on land-based sports betting.
Now with this latest bill put forward, RI sports betting is expecting to be online sooner rather than later.
RI Sports Betting Apps Mean More Revenue For RI Sportsbooks
An Oxford Economics study helped shed some light on just how lucrative the adoption of online Rhode Island sportsbooks would be for the industry. One of the smallest state or not, the numbers look promising - $80 million in annual revenue is on the line.
Without online betting apps, the projections only provide $40 million in revenue.