Rhode Island’s sports betting market is one of few monopolies in the U.S., but that could be about to change if a group of lawmakers get their way.
Four senators have filed a bill to end the current exclusive sports betting contract with International Game Technology (IGT) and usher in at least five sportsbooks to compete for market share and revenue.
SB 748, introduced by Sen. Frank Ciccone, Sen. John Burke, Sen. Todd Patalano and Sen. David Tikoian, dictates that starting July 1, 2026, the state lottery division of gaming would not renew any existing sports wagering vendor contracts. Before the current deal with IGT ends that year, the division would “issue an open invitation” to applicants for a sports betting license and award a minimum of five to qualified vendors.
SB 748 has been referred to the Senate Labor and Gaming Commission. Whether it makes any progress is the next question.
IGT has powered Sportsbook Rhode Island since 2019, when the state became one of the first to launch a post-PASPA-repeal wagering market. All of the biggest names in sports betting, including market-leading duo FanDuel and DraftKings, are currently shut out of the state.
As well as providing its PlaySports technology, IGT is the exclusive supplier of retail and online lottery services to the Rhode Island Lottery through a 20-year contract as vendor.
Rhode Island taxes at top end of scale
Rhode Island is one of a small number of sports betting monopolies across the country. In Delaware, Rush Street Interactive’s BetRivers brand is unchallenged by regulated competitors. In Florida, Hard Rock Bet has the keys thanks to its deal with the Seminole Tribe. In Oregon, DraftKings has an effective stranglehold on statewide online sports wagering thanks to its partnership with the Oregon Lottery.
Unlike those other monopoly states, Rhode Island taxes sports betting at 51% of operators’ revenues. IGT has been paying that for years, with no competition to worry about. Whether that rate would be reassessed in the eventuality of an open, competitive market is uncertain. There is no mention of tax rate in SB 748.
The Rhode Island Lottery’s most recent monthly reporting shows that IGT took $47.4 million in bets and earned $5.1 million in GGR in January 2025, generating around $2.6 million in tax revenue.
To date, Rhode Island’s sports betting market has seen around $2.5 billion in bets and more than $214 million in revenue. The state has earned around $110 million in tax proceeds from wagering.
Those handle and operator revenue numbers are at the low end of the scale, but the high tax rate means that Rhode Island has reaped more proceeds from sports wagering than several considerably larger and more competitive markets.
