Rhode Island sports betting
Since 2018, Rhode Island sports betting has been growing. Rhode Island became the eighth state to legalize sports betting, just shortly after the Supreme Court struck down the PASPA in 2018. Because of this early legalization, sports betting in Rhode Island has become a well-established activity.
However, despite this early legalization, there are some areas in which Rhode Island sports betting still lags behind. There are only two in-person betting casinos operating. Moreover, there is only one state-run online sportsbook legal in the state.
This has forced betting enthusiasts to seek online betting platforms in neighboring states, where multiple sportsbooks are available. Nevertheless, sports betting grew exponentially and continues to grow. In this complete guide to Rhode Island sports betting, we’ll cover everything you need to know about wagering in the state.
Can you bet on sports online in Rhode Island legally?
Yes, you can bet legally bet on sports like boxing, hockey, and more in Rhode Island. In 2019, the state legislature expanded the existing law to include online and sports betting in apps. As a result, online betting is fully legal in the state. However, if you are a registered bettor in the state, you can only bet from within its jurisdiction. Moreover, you are only expected to bet on the single online platform run by the state-controlled Rhode Island Lottery. But, you can also bet in either of the two existing land-land-based casinos.
Nevertheless, there are certain conditions you have to meet to register with the sportsbooks. The most important of these is to show that you are at least 18 years old. That is the eligible age for betting under Rhode Island state law, which is below the federal provision for eligibility at 21 years of age. Also, you are required to register with the sportsbook and place a deposit to be eligible for betting. Once you have met these requirements, you can begin playing for the big prizes.
Moreover, all RI sports bettors must make their selections from within the state. The state lottery employs geofencing software to pinpoint users’ locations and does not allow out-of-state bettors to place wagers online.
A new development is that as of July 28, 2020, bettors in Rhode Island can sign up from anywhere in the state. Earlier, gamblers had to go to a retail sportsbook to open their betting account.
About the Sportsbook Rhode Island
The only way to bet on sports online in Rhode Island is through the state-run Rhode Island Lottery, which operates an online and mobile app in the state called Sportsbook RI. It is a site that offers betting bonuses for new players, competitive odds, and the possibility to bet on various sports from around the world.
Do you need to pay taxes in RI on money earned from sports betting?
Yes, you need to pay taxes in Rhode Island on money earned from sports betting. In the United States, proceeds earned through betting are considered income and attract taxes. For example, if you win $600 or an amount that is at least 300 times the bet amount, the win will be subject to a tax of 24%. Additionally, the revenues earned by the state-operated sportsbook are not spared either. The state is known for its high tax on betting revenue.
Casinos typically deduct 25% of your winnings for tax purposes. However, that is only the norm if you provide them with your social security number. If you decline that option, they typically withhold 28%. Form W-2G reports your winnings for the year to both the IRS and you, in case you haven’t been keeping track.
Retail sports betting locations in Rhode Island
The Twin Rivers Casino in Lincoln and the Twin Rivers Tiverton are the only two existing retail sports betting locations in Rhode Island. In 2018, Rhode Island legislators approved Senate Bill 2045, which made the necessary changes to state laws and regulations to establish a sports betting industry in the state.
This limits the state to only two licenses, given to the Twin River casinos. IGT is the operator for these sportsbooks and was surprisingly the only bidder to seek a service contract from Twin Rivers.
The Twin River Casino in Lincoln is one of the few retail sportsbooks in the state, and it is a partnership between IGT and William Hill. In fact, you must visit either the Twin River Casino in Lincoln or in Tiverton to sign up for SportsBet Rhode Island.
Twin River Casino Tiverton is also one of the state’s two retail casinos. The odds at the SportsBet Rhode Island app will be the same as the odds at the Twin River, IGT, and William Hill app, as they are the oddsmakers and partners.
Are sports betting sites regulated in Rhode Island?
Yes, the Rhode Island Lottery-operated Sportsbook app is regulated by the state. Therefore, it operates under close supervision and constant monitoring. The other sportsbooks have not been allowed to operate legally in the state. As a result, they are not under any form of state regulation even though they attract state bettors.
Rhode Island sports betting timeline
Sports betting began in Rhode Island soon after the landmark 2018 ruling of the Supreme Court to do away with the PASPA. This opened doors for legal sports betting in the country. The state legislature moved quickly to pass a law legalizing in-person betting the same year. The law changed a year later to allow online and mobile betting.
Despite the relative speed with which Rhode Island enabled legal betting, there has been no speed in opening the online betting space for private sportsbooks. The only existing online sportsbook is the state-operated one.
This has made other states expand their betting space much faster than RI. Though there is room to allow more sportsbooks, the state is clearly not in hurry to do so. To know more about online sports betting in the U.S and in this state, see our timeline down below: