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Rhode Island is adding a second online sports betting operator after years with only one approved digital sportsbook in the state.
Good to Know
Bally’s has been selected for licensing in Rhode Island, according to NBC 10 WJAR. The decision gives the state another online sports betting brand and ends a long one operator model that began when mobile wagering went live in 2019.
Rush Street Gaming, owner of BetRivers, also applied. Rhode Island Lottery deputy director Michael O’Rourke told NBC 10 that no other company entered the race. O’Rourke said:
“There was a thorough review process.
“There was a hope we’d get more companies to reply, but they didn’t.”
Bally’s already has a strong position in Rhode Island. The company runs the only two retail sportsbooks inside the state through its casinos, and it has earned 17% of sportsbook revenue under the current IGT structure.
Under that setup, IGT kept 32%, while Rhode Island received 51% through gaming taxes. That 51% rate remains the highest sports betting tax rate in the U.S. and likely helped keep larger names such as FanDuel and DraftKings away from the process.
Bally’s will now receive 49% of revenue from its own online sportsbook, while the state will still take 51%, according to NBC 10. The deal still needs a final contract, but Bally’s is expected to start in November when the IGT exclusivity arrangement expires.
Patti Doyle, spokesperson for Bally’s, said:
“Bally’s is thrilled to have been awarded a second sports betting license by the State of Rhode Island. We appreciate the confidence and trust the State has placed in our ability to provide a best-in-class product – built for scalability, innovation, and the evolving demands of modern bettors – which will generate additional revenue to benefit the Rhode Island taxpayers.”
Rhode Island opened the application window near the end of last year and gave operators until February to file paperwork. The Lottery saw extra competition as a way to keep more betting activity inside state lines, rather than watch bettors use sportsbooks in nearby Massachusetts.
Bally’s will hold its Rhode Island online sportsbook position for at least five years. The deal also includes an option for another five years.