Rhode Island is the seventh US state to have legal online casinos after the industry was launched on Tuesday. [Image: Shutterstock.com]
Historical moment
Seven US states now have legal online casinos operating after Rhode Island’s iGaming marketplace went live on Tuesday afternoon. Bally’s is the operator of the only platform in the state, allowing residents the ability to play a range of slots, blackjack and roulette to begin with.
It plans to expand the game library over time, with baccarat to be released before the end of March. Stakelogic supplies the live casino games and the broadcast will take place in a studio on the second floor of the Twin Rivers Lincoln Casino Resort, which has a cost of about $5 million to renovate.
It underwent a four-day trial period before the full launch
The new online casino went through a four-day trial period with a select number of people before the full launch to make sure everything ran smoothly. The new platform is expected to help create up to 75 new job opportunities.
Anyone who is at least 21 years old and resides in Rhode Island can sign up for a Bally Casino account. This is different from the minimum age of 18 to enter a physical casino in the state.
High hopes for iGaming
Craig Eaton, president of Bally’s Corporation’s Rhode Island operations, thanked lawmakers for pushing legislation that will help “boost state revenues and better position the state’s casinos in New England’s competitive gaming market.”
It gave Bally’s a monopoly on online operations
Governor Dan McKee signed Senate Bill 948 into law in June 2023 as no constitutional amendment or public vote was needed for its passage. This bill gave Bally’s a monopoly on online operations, adding to its existing control over the land-based commercial gambling sector.
To help alleviate concerns about rising addiction rates, Bally’s must pay an annual sum of $50,000 to problem gambling prevention and $200,000 to treatment programs. The new platform also offers a wide range of responsible gambling tools, including deposit limits, maximum length of playing sessions, as well as self-exclusion.
Big money up for grabs
Online sports betting already exists in Rhode Island; Total turnover was nearly $45 million in January. iGaming platforms usually have much better profit margins than sports betting. For example, online casino revenues in New Jersey were nearly double sports betting revenues last year.
Other states with legal iGaming markets are West Virginia, Pennsylvania, Delaware, Michigan, Connecticut, and New Jersey.
The state estimates it will receive $24 million in tax revenue for the first full year from legal iGaming in the state. This total could rise to $40 million annually by the fifth year of the market.
