The Rhode Island Senate has taken a major step towards enhancing its sports betting landscape by passing a new bill that opens the market to multiple operators. This legislative move is set to break the existing monopoly currently held by International Gaming Technology (IGT), paving the way for increased competition and improved offerings from 2026. The bill, known as Senate Bill 748, is now awaiting a vote in the House, which has until the end of June to act.
Key Points
- The Rhode Island Senate passed SB 748 by a vote of 30-3, allowing for a market with up to five sports betting operators by 2026.
- The bill will prevent the renewal of IGT’s current monopoly on sports betting in the state.
- IGT argues that their existing single-operator model outperforms multi-operator systems found in neighbouring states.
- DraftKings supports the bill, believing a competitive market will enhance the player experience.
- Concerns remain about Rhode Island’s high sports betting tax rate of 51%, which might deter new operators from entering the market.
Why should I read this?
If you’re even a bit interested in sports betting, you’ll want to keep your eyes on Rhode Island’s move here. This could set a trend for other states to follow, which means more options and potentially better deals for everyone laying down bets. Keep up to date with this unfolding situation, because it could impact your betting experience in the future!