Mobile betting nears in Rhode Island
The football season gets closer and mobile betting in Rhode Island may just be ready to launch by the time it does in September.
US.- The sports betting industry grows at a different pace in each state of the US. As many, Rhode Island seeks to have a successful operation up and running by football season and it just might.
According to the Department of Revenue spokesperson Paul Grimaldi, mobile betting in Rhode Island may be ready by September. He explained the state plans to implement testing of mobile betting apps in August.
Two apps will be on offer: one for Twin River Casino Hotel and another for Tiverton Casino Hotel. Punters will have to visit locations in person to verify their identity first before they can deposit money via their mobile.
Sports betting’s performance
A study by Christiansen Capital Advisors showed that initial projections for sports betting revenue might have been off. It claims that sports betting won’t bring as much money as initially expected.
The study estimates that sports betting would only bring in US$2.7 million for Rhode Island by the end of the current fiscal year in July. That number is considerably lower than the US$23.5 million that was predicted in initial estimations. It is also significantly lower than Governor Gina Raimondo’s projection of US$11.5 million.
Furthermore, the study also said that a new Taunton casino would also affect Rhode Island’s gaming revenue. If it opens on June 1, 2021, total gaming revenue in the state would fall by US$79.8 million. Thus, the state’s share would fall by US$37.3 million between fiscal 2021 and fiscal 2024.
