Rhode Island Opens Bidding for Second Online Sportsbook License
In a significant development for the state's gambling industry, Rhode Island is set to expand its online sports betting market in 2026. The Rhode Island Lottery has announced that it is accepting bids for a second online sportsbook license, with applications due by February 19, 2026. This initiative aims to introduce competition to the current monopoly held by International Gaming Technology (IGT), which operates the state’s sole digital sportsbook. The new sportsbook is expected to become operational by November 1, 2026, according to Casino.org.
📌 Key Takeaways
- Rhode Island opens second sportsbook bidding for 2026.
- IGT's monopoly ends November 2026.
- Eight major operators express interest in Rhode Island.
IGT's Monopoly Nears Its End in November 2026
Currently, the Rhode Island sports betting market is dominated by IGT under an exclusive contract that expires in November 2026. The fiscal year 2025 saw the state's single-platform sportsbook manage $395.1 million in online wagers, retaining less than $33.5 million in revenue for the state, as reported by Casino.org. With the contract's expiration, regulators are keen to explore a competitive landscape by inviting additional operators to enhance service offerings and potentially boost revenue.
The fiscal year 2025 saw the state's single-platform sportsbook manage $395.1 million in online wagers, retaining less than $33.5 million in revenue for the state.
Interest from Major Sportsbook Operators
The move to expand the market has garnered interest from several prominent sportsbook brands. The Rhode Island Lottery has received responses from eight major companies, including Bally's, Fanatics, Kambi, DraftKings, BetMGM, OpenBet, FanDuel, and the incumbent IGT. According to Yogonet International, these operators are keen to capitalize on the opportunity to enter a newly competitive Rhode Island sports betting market, which could see significant growth from this increased competition.
Projected Impact on Rhode Island's Gaming Revenue
Rhode Island's online gambling sector has been a significant contributor to the state’s revenue. The Rhode Island Lottery transferred $433.6 million to the state's general fund for the fiscal year ending June 30, 2025, marking a $7.2 million increase over the previous year, according to CDC Gaming Reports. The introduction of a second sportsbook operator is expected to further boost these numbers by attracting more bettors and offering diverse betting options.
Regulatory Considerations and Market Challenges
Expanding the sports betting market in Rhode Island is not without its challenges.regulatory frameworknstitution requires that all forms of gambling be conducted through the state-run lottery. This regulatory framework necessitates careful planning and execution to ensure compliance. According to Global Gambling News, a study suggested the introduction of 4-6 additional sportsbooks to enhance market competition, but this would require legislative changes and careful regulatory oversight.
Implications for Players and the Industry
- The introduction of new operators is likely to lead to more attractive promotions and bonuses for players.
- Increased competition can enhance the quality of service and betting options available to Rhode Island residents.
- The market expansion may set a precedent for other states considering similar moves to end monopolies.
As the process unfolds, stakeholders are watching closely to see how Rhode Island navigates the transition from a single-operator market to a competitive landscape. The success of this expansion could influence future regulatory decisions and market dynamics in the broader U.S. online sports betting industry.