The USA has recently noticed a rise in the number of states that choose to legalize online gaming activities. This truly is an important shift in the landscape of gambling.
In this context, Rhode Island has become one of the latest states to announce its entry into the iGaming arena. This has happened as six other states have adopted similar measures, all welcoming online casinos.
Rhode Island’s Landmark iGaming Legislation
When Governor Dan McKee signed Senate Bill 948 into law, that moment represented the official entry of the state into the sphere of legalized iGaming. The historical event came after a long period of intense deliberating, marking the culmination of all efforts to make it happen.
The recent law allows the casino operator Bally’s to expand its monopoly over the gambling industry. With this bill, Bally’s Genesys can become the state’s sole operator and provider of online casino games. Citizens are now expecting to gain access to online casino games starting in April 2024.
The Implications of the New iGaming Law
Legalizing online gaming in Rhode Island opens the way to a series of opportunities and challenges for both gamblers and operators.
For starters, the law mentions that online slot revenue will be taxed at 50% while table games will be taxed at 18%. This means that the state will see significant financial benefits. Gamblers will also experience numerous advantages.
As iGaming activities are now deemed legal in Rhode Island, citizens can now lawfully wager at licensed online gambling platforms. This implies that locals will be able to access multiple online wagering activities, from online casinos and poker rooms to live casino titles and sports betting sites.
The new law focuses on social responsibility, meaning iGaming education will be a priority. Thus, gamblers from Rhode Island will not just gain access to online casino games but to numerous tools and resources that will help them gamble in a safe and responsible manner.
Regulatory Framework and Future Outlook
The iGaming activities from Rhode Island will be supervised by the Rhode Island Division of the Lottery, which currently regulates all Bally’s casinos in the state. Mark Furcolo, the authority’s director, will be responsible for developing rules and regulations regarding properly functioning all related activities.
By using geolocation technology, players will be supervised when playing online. This way, they won’t be able to access Rhode Island online casinos outside of the state’s borders. They will be allowed to gamble outside the state, only under very specific circumstances, thanks to several deals made with other states where online gaming is also legalized.
Since Rhode Island is now on the map of iGaming, the state’s economic scene is expected to change within a few years. This event is also expected to open the gates for other operators to join, thus increasing the state’s revenue even further. By legalizing online gaming, Rhode Island has become an important player in the industry, and other states will most likely follow its example in the coming years.
