Rhode Island Regulates Sports Betting at Steep Price

Rhode Island Governor Gina Raimondo signed a $9.6 billion budget for fiscal 2019 on Friday that legalizes sports betting and gives the state 51 percent of the revenues from the wagers.

The budget for the fiscal year starting July 1 counts on $23.5 million of new revenue from sports betting, though the activity is not expected to go live until Oct. 1.

Even so, the move could give Rhode Island an early edge in New England’s sports betting market, as states across the country look to legalize the activity after last month’s U.S. Supreme Court ruling overturning a 1992 law that barred it in most places.

The smallest U.S. state does not soon plan to take sports wagers online, however, meaning bets can only be placed inside casinos.

That could put it at a disadvantage, especially if neighboring Massachusetts and Connecticut eventually allow customers to place wagers anywhere in the state over the internet.

“It could create a flight of customers,” said Daniel Wallach, an expert in gaming and sports law.

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