Rhode Island Will Almost Certainly Have Mobile Sports Betting

The Rhode Island House and Senate have both passed legislation that would authorize mobile sports betting. The bill now needs the signature of Gov. Gina Raimondo to officially become law. Gov. Raimondo has added tax revenue from sports betting into her budget; it seems very likely that she will sign the bill. Rhode Island’s proposed budget for the fiscal year that begins July 1, 2019 includes $30 million in revenue from sports betting, including $3 million from mobile gambling.

Initial projections suggest that the mobile betting market would generate nearly $8 million dollars in tax revenue in the future.

It will be interesting to see the effect this legislation has on neighboring state Connecticut which is also considering sports betting. Connecticut Lottery President & CEO Greg Smith has suggested that sports betting should be offered both online and in retail.

2019-03-14T10:07:44-04:00