Rhode Island was initially expected to launch sports betting services on October 1 but that did not work out much to the disappointment of sports bettors in the state. However, it has now been confirmed that sports bettors will be able to do so from November 26.
The Twin River Casino in Lincoln has everything in order and will accept the first sports bets in the state on Monday. Twin River Tiverton which is in the process of being completed is also preparing to launch its sports book and is expected to start taking wagers from December.
Twin River has partnered with IGT for its sports betting platform.
Twin River will carry out an opening ceremony in Monday and a number of VIPs will be present. Those in attendance will include Dominick Ruggerio who is the Democratic Senate President, Nicholas Mattiello who is a Democratic House Speaker and the chairman for Twin River Worldwide Holdings John Taylor.
The dignitaries will be given the honour of placing the very first sports bet in Rhode Island and they will place their wagers on whatever game they think wish to. Should their bet end up being successful, the proceeds will be donated to a charity of their choice. The launch of the sports betting market is very important to Rhode Island as it will become the only state in New England to have a legalized sports betting market.
In a statement, Ruggerio said
Sports gaming provides the state with revenue that offsets reliance on taxes to support essential state services, such as education and fixing roads and bridges
Wochit News
The sports betting legislation in Rhode Island will see the state get a total of 51 percent of the revenue generated while the casino will receive 17 percent and the remaining 32 percent will go to the sports betting vendor.
The Department of Revenue is still not clear as to how much the sports betting market will generate on an annual basis. Market analysts will have to wait and see how Rhode Island residents react to legalized sports betting being available and also if sports bettors from Connecticut and Massachusetts head over to Rhode Island to place their sports bets.
Rhode Island has already lost out a lot of money by delaying its sports betting launch as the NFL, NBA and NHL seasons are all underway.
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