Written by :
Published on :
When the US Supreme Court overturned decades long sports betting prohibition in 2018, tiny Rhode Island became one of the very first states to legalize the activity.
A year after sports betting went live in the state, the market was revealed to be underperforming by 90%.
Experts claimed at the time that the numbers were fundamentally flawed from the onset with incorrect data used in the state's initial studies.
That miscalculation resulted in a $40 million hole in the 2020 budget. And then Covid came along.
Rhode Island once again became one of the first this week, the 7th US state to legalize online casino gambling.
Governor Dan McKee signed HB6348/SB948 into law on Tuesday. Legislative sponsors issued a statement earlier in the day.
“This legislation provides an added convenience to Rhode Islanders who would like to play the existing table games offered at Twin River via their mobile devices,” said Senate President Dominick J. Ruggerio. “It helps ensure the continued strength of the state facilities in the competitive regional gaming market, and in so doing protects an important revenue stream that provides funding for vital state programs and investments.”
Gambling911.com is here in Providence, the state capitol, and can reveal that little is being discussed about the new online casino law.
Gaming analyst Steve Bittenbender noted there was little in the way of any fanfare with the measure's passage. He tweeted:
"The bill will allow Bally's, in partnership with IGT, to offer online casino gaming in the state to adults 21+ (those 18+ can still play at the land-based casinos and bet on sports)."
And therein lies the problem.
One follower wrote in response:
"Any new igaming state is good news, but it’s hard to get too amped up about a monopoly situation in a small state."
Another gaming analyst, Steve Brubaker, offered an explanation as to why we're not hearing much on this front.
"Well they overdid the fanfare when they passed sports betting. If I recall correctly they thought they could pave all the roads in the entire state with that tax revenue. Perhaps they’ve tempered their enthusiasm for igaming funded blacktop."
Perhaps.
- Gilbert Horowitz, Gambling911.com
