Rhode Island sets new sports betting rules as Bally’s steps in

Rhode Island is shaking up its sports betting scene, but not everyone’s thrilled with how it’s happening. The state chose Bally’s to launch its second online sportsbook, beating out Rush Street Interactive, another company that wanted in. But here’s the catch: Bally’s won’t actually start operating until at least late 2026, when its current competitor’s contract ends. That’s when IGT, the company running Rhode Island’s first sportsbook since 2019, loses its exclusive rights. IGT isn’t going anywhere, though. The state just extended its deal for two more years, letting it keep running both in-person and mobile betting until 2028. Yet, users aren’t exactly singing its praises. Reviews complain about slow lines, especially for tricky bets, even though the app scores decently in app stores. One Apple user called it “the worst sportsbook experience you could get, ” proving that good ratings don’t always mean happy customers.What’s surprising is the lack of big names in the running. DraftKings and FanDuel, which dominate neighboring states, didn’t even bother applying. DraftKings said the state’s terms were too restrictive, while FanDuel stayed quiet. Experts think the high tax rate—51% of revenue going to the state—might be scaring them off. Rhode Island’s setup gives the winning vendor only 32%, leaving little room for profit after costs. Now, lawmakers are pushing for a change. Two bills want to flip the script, giving vendors up to 79% of revenue after the state hits a $18. 6 million target. FanDuel backs this idea, calling it a way to bring in better platforms while keeping cash flowing for the state. But don’t expect quick action—both bills are stuck in committee, with little hope of moving forward this year. Still, competition might force Rhode Island to adapt. As one lawmaker put it, “Once you get competition, things have to change. ” Whether that means better odds for bettors or just a reshuffle in the market remains to be seen.