The USA is still talking about the coming changes to sports betting. Last week, announcement about Mississippi made things interesting, since everyone thought New Jersey would be the first state to have sports betting options.
Mississippi is providing sports betting through tribal casinos. The tribal casinos have less red tape to get through in the state of Mississippi than other casinos.
New Jersey is finalizing details for their new regulations to ensure sports betting is legalized . New Jersey is getting the proper signatures and ensuring that the rules are clear. No one wants eSports wagering to become a thing, when there are participants who are underage for gambling.
Rhode Island’s Move
Now Rhode Island seems to be getting in on the action. Rhoda Island may be small, but the sports betting law is one signature away from being approved. All it needs is the governor’s signature.
Wednesday, June 20, 2018, Rhode Island’s senate approved the 2019 fiscal budget, which included a portion about making sports betting legal in the state. Governor Gina Raimondo says she is going to provide her approval Friday. The budget is $9.6 billion, with $23.5 million coming from legal sports wagering.
The plan is to use the two land-based casinos to start sports wagering options. The Twin River casinos locations are going to use IGT to provide the necessary software to make it happen. The state already uses IGT for lottery. The company was also the sole bidder in May to offer their sports wagering software.
IGT’s share of the revenue will be around $14.75 million, with the casinos making $7.8 million. The estimates are based on projections that the casino will actually see about $910 million in wagers. The state is not approving online gaming sites to offer sports wagering. It will only be the two land-based casinos that are able to provide the option.
Rhode Island is the seventh state working on sports wagering regulations. Delaware, Nevada, Mississippi, Pennsylvania, and West Virginia are also the states who are considering changes to their regulations.
For the longest time Nevada was the only place, within Las Vegas that was approved to offer sports wagering options. With the repeal of the federal law blocking other states, it is not the state legislatures choice whether they approve the addition of sports wagering. It will take until October for Rhode Island to be set up to take the wagers once the bill is approved.