Rhode Island has become the seventh U.S. state to have legal online casinos following the industry’s launch on Tuesday. [Image: Shutterstock.com]
A groundbreaking moment
Seven US states now have legal online casinos in operation after Rhode Island’s iGaming market went live at midday on Tuesday. Bally’s Corporation is the operator of the state’s only platform that allows residents to initially play a range of slot machines, blackjack and roulette.
The plan is to expand the game library over time, with baccarat scheduled to launch before the end of March. Stakelogic delivers the live casino games and the streams take place in a second-floor studio at the Twin Rivers Lincoln Casino Resort, which cost about $5 million to renovate.
Before the full launch, it went through a four-day test phase
The new online casino went through a four-day testing period with a select number of people before the full launch to ensure everything ran smoothly. The new platform is expected to help create up to 75 new jobs.
Anyone who is at least 21 years old and a Rhode Island resident 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 the Rhode Island division of Bally’s Corporation, thanked lawmakers for pushing through legislation that will help “increase state revenue and better position the state’s casinos in New England’s competitive gambling market.”
gave Bally’s Corporation a monopoly on online operations
Governor Dan McKee signed Senate Bill 948 in June 2023 because it did not require a constitutional amendment or public vote for its passage. This bill gave Bally’s Corporation a monopoly on online business, increasing its current control over the land-based commercial gambling sector.
To address concerns about rising addiction rates, Bally’s must make an annual payment of $50,000 for problem gambling prevention and $200,000 for treatment programs. The new platform also offers a wide range of responsible gambling tools, including deposit limits, gaming session duration caps and self-exclusion.
Win big money
Online sports betting is already live in Rhode Island; Total sales in January were nearly $45 million. iGaming platforms tend to have much better profit margins than sports betting. For example, online casino revenue in New Jersey was nearly double sports betting revenue last year.
The 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 in the first full year that iGaming is legal in the state. This total could rise to $40 million per year by the market’s fifth year.
