Proposed Rhode Island bill seeks to expand sports betting market
Senate Bill 748 would look to open up the Ocean State to at least five operators, ending IGT’s current monopoly on the market
Proposed legislation has been filed in Rhode Island’s senate which would open up the state’s sports betting market to more operators.
Senate Bill 748 would end the monopoly currently held by IGT in the Ocean State and allow for at least five sportsbook operators to enter the market.
Per the proposal, Rhode Island’s state lottery division of gaming would be prevented from renewing any existing sports wagering contracts, including the exclusive agreement currently held by IGT.
From July 1, 2026, onwards, when IGT’s contract expires, five operators would then be free to apply for a sports betting license.
The bill was first introduced by senators Frank Ciccone, John Burke, Todd Patalano, and David Tikoian on March 7, 2025.
SB 748 has now been referred to Rhode Island’s senate Labor and Gaming Commission for review.
IGT has held an exclusive sports betting agreement in Rhode Island since 2019.
The company is also the exclusive lottery provider in the state, currently holding a 20-year contract with the Rhode Island Lottery.
Rhode Island is one of the few monopoly sports betting states in the US, alongside the likes of Oregon, Delaware, and Florida.
Rhode Island also has a 51% tax rate for sports betting, putting it on par with New York and New Jersey as one of the highest tax rate states in the country.
Back in July 2024, IGT entered into a definitive agreement with Apollo Global Management which will see the investment firm acquire the supplier’s gaming and digital arm.
The $6.3bn deal is expected to be completed in the third quarter of 2025.