The Senate President said that he believes that online sports betting will produce millions of dollars next year.
US.- Rhode Island Senate President Dominick Ruggerio revealed that he is currently crafting a proposal that would allow online sports betting in the state, which would be introduced in the next session and would take effect next year if it gets the necessary approvals.
The Senate President said that he is optimistic that the modality would produce millions of dollars in fresh revenue by next year. He said that he is confident that the measure could gain passage in 2019, WPRI informed. “We have sports betting now. I don’t see why we can’t have mobile sports betting. It’s a matter of convenience,” he added.
Ruggerio said that the measure would not require a referendum, and it if gets passed, it would make the first state in the New England area to legalise online sports betting, and one of the first in the country to do so as well.
A prediction from Providence Democrat established that the state’s sports betting revenue would more than double the current annual prediction to approximately US$50 million a year if online sports betting is approved.
Oxford Economics released a report last year that detailed that the state’s handle would reach US$1 billion a year, which would translate into the state collecting approximately US$80 million in revenue.