Rhode Island Poised to Abolish Sports Betting Monopoly with New Bill
Rhode Island is on the verge of transforming its sports betting landscape after the Senate passed Senate Bill 748 (SB 748) on June 4. This legislation aims to dismantle the state’s one-operator model, which has been in place since 2019 under gaming giant International Gaming Technology (IGT), and will open the market to multiple operators starting in 2026.
Sponsored by Senate Majority Leader Frank Ciccone, SB 748 mandates that the Rhode Island Lottery Commission refrain from renewing IGT’s contract and invites new applicants for licenses before the current contract expires. The Senate’s overwhelming 30-3 vote reflects growing support for competition, driven by a Spectrum Gaming Group report advocating for a market featuring four to six operators.
However, IGT has voiced strong opposition, arguing that the existing model generates more revenue than multi-license systems in neighboring states. IGT’s Senior VP, Joe Bertolone, claimed the centralized approach ensures better operational efficiency and marketing strength. He emphasized the need to lower the state’s 51% tax rate to attract more operators—a tax rate ranked among the highest in the nation.
Contrastingly, sports betting platform DraftKings welcomed SB 748, asserting that increased competition would enhance the player experience. DraftKings referenced data indicating Rhode Islanders spend significantly less on sports betting compared to residents in states like Massachusetts.
Despite support for SB 748, the bill fails to address the high tax rate, raising questions about its feasibility for attracting new operators. Additionally, Lottery Director Mark Furculo pointed out potential constitutional issues regarding the renewal of gaming contracts, which could complicate the bill’s implementation.
With the House set to vote by June 30, Rhode Island’s sports betting future hangs in the balance, potentially reshaping the state’s gambling market.
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