Rhode Island Sports Betting Goes Live At Tiverton Casino
Last week, in a somewhat surprising development, Rhode Island became the eighth state to have land-based sports betting open to the public. Now, Rhode Island sports betting has gone live at Tiverton Casino, which took its first wagers this morning (Monday, December 3, 2018). This means that both RI venues – there are only two casinos in the state, both of which are Class III tribal facilities – have full sports betting services up and running.
Rhode Island sports betting at the newly-opened Tiverton Casino – which was established when the Newport Grand Casino (a VLT parlor) was relocated to Tiverton and renamed with branding bringing it in line with its partner, the Twin River Casino in Lincoln, RI – launched faster than even most industry insiders thought it would. Dubbed the Sportsbook Rhode Island, the Tiverton venue’s sports betting product is operated by the Rhode Island Lottery, with the betting infrastructure and odds set by William Hill.
The Tiverton Casino Hotel, site of the newest place to wager on sports in Rhode Island, is a smaller venue, with a 33,600-square-foot main gaming floor and 1000 video slots, 32 table games, 18 “Hybrid Stadium Seats,” and an attached hotel with 83 luxury rooms. Because of Rhode Island’s comparatively tiny size, the new sportsbook at the Tiverton venue – when coupled with the Twin River venue – makes it pretty easy for residents anywhere in the state to quickly and conveniently bet on their favorite players and teams. The new Tiverton sportsbook is located on the third floor of the main facility, and its hours of operation are as follows (though these are subject to change seasonally):
- Monday: 10AM – 1AM
- Tuesday: 10AM - Midnight
- Wednesday: 10AM – 1AM
- Thursday: 10AM – 2AM
- Friday: 8AM - 1AM
- Saturday: 8AM – 1AM
- Sunday: 8AM – 1AM
That said, there is no word on when (or even if) the Rhode Island Lottery will launch an online sports betting product for RI bettors. This would clearly be beneficial to the state’s bottom line, as – even if the Tiverton/Twin River sports wagering storefronts are centrally located – many of the state’s estimated 200,000 sports bettors won’t be able to regularly get to the casinos to place their wagers. However, in order for any sort of online or mobile Rhode Island sports betting to go live, it appears that the state legislature will have to institute a new law authorizing both (or either).
Remember, Rhode Island sports betting was made nominally legal in RI via the state’s 2018 budgetary layout, which was overwhelmingly supported by lawmakers on both sides of the aisle and signed into law by governor Gina Raimondo (D), who also requested that sports betting in Rhode Island be fast-tracked to launch before the end of the year. To the point of mobile/online betting, many RI legislators suggest that a state house or senate bill will not be sufficient, instead requiring an actual voter referendum for passage. Most analysts expect such a referendum to be put to RI ballots in time for the next round of state elections.
Another interesting aspect of Rhode Island sports betting is that – as a profit vehicle – the pastime doesn’t appear nearly as compelling for the casino venues as it is for the state and the associated bookmaker (William Hill). Still, this doesn’t really matter, given that the product is essentially a state-operated service. In fact, both the new Tiverton Casino and the Twin River Casino were given $100,000 by RI to dedicate the space on their gaming floors for sports betting, which is the reverse of how things normally work in the industry. That makes sense when you look at the revenue breakdown for Rhode Island sports betting, though: The state gets 51% of all profits, William Hill gets 32%, and the host casino gets only 17%. In terms of casino revenue, this represents the smallest margin in the country, and it will be interesting to see how the casinos’ financial standing evolves as Rhode Island sports betting grows in popularity.
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For the time being, of course, the upshot is this: Rhode Island is now fully embedded in the sports betting realm, and residents of the state can wager on all the sports they wish, any time. The new Tiverton Casino sportsbook offers action on just about every national and international sporting league and event, with support for the NFL, NBA, MLB, NHL, NCAA, UFC, NASCAR, boxing, tennis, golf, global league soccer, rugby, cricket, and more. You can place a slew of wagers on every game, as well (spreads, straights, totals, props, futures, etc.), and live betting on several daily matchups is also offered.
For more information about the Rhode Island Sportsbook at the Tiverton Casino, you can call the casino directly at 401-816-6000 or visit them at www.twinrivertiverton.com.
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