U.S. Supreme Court Issues Decision Legalizing Sports Betting, Big Impact on RI
Tuesday, May 15, 2018
Monday morning the United State Supreme Court issues a decision that legalizes sports betting for states across the country.
The decision knocks out Nevada’s near monopoly and allows Governor Gina Raimondo’s plan to push forward.
The decision has two major implications for Rhode Island.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTFirst, it is expected to generate in excess of $23 million for the 2019 Fiscal Year budget.
Second, it is a major expansion of gambling in Rhode Island.
According to the Raimondo administration, the sports betting proposal for Rhode Island would follow the Las Vegas model, in that gamblers would have to make betting in-person -- and not follow New Jersey’s controversial online gaming model at this time. Officials did confirm that the case before the Supreme Court on all sports betting would determine the viability.
"Four states have legalized sports betting currently in the country, with Nevada being the broadest. Four have passed legislation pending the Supreme Court decision, and 3 additional states have additional legislation pending. We believe Massachusetts will also introduce legislation," said a Raimondo told GoLocal in January. "We view it as a competitive necessity...we're doing our due diligence -- -- there could be an online component."
The Supreme Court case was brought by then-Governor Chris Christie of New Jersey. The NCAA fought against the expansion of sports gaming.
The gambling is expected to be limited to Twin River. The casino claims that the expansion of table games legalized sports betting
Sports betting may have an impact an adverse impact on Twin River’s other games and Lottery Commission Revenues.
The American Gaming Association estimated that Americans would wager $10 billion on this year's NCAA men's basketball tournament alone, with just three percent of the bets placed legally through Nevada.
Related Slideshow: 5 Danger Areas for Raimondo’s Budget - January, 2018
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