There are only five states where online sports gambling is in the hands of a single entity: Florida, Montana, New Hampshire, Oregon, and Rhode Island. That list could soon shrink with Rhode Island's bill HB 6048.
This new bill in the Ocean State would end Sportsbook RI's contract after July 1, 2026, with the state then opening its market to at least five sportsbooks. So why is Rhode Island switching from a monopoly to an open market?
While you wait for Rhode Island to open up, do your research now on the best sportsbooks by reading our sportsbook reviews.
Why Is Rhode Island Trying To Undo Monopoly?
The first obvious explanation for this switch in the North-Eastern state is one of fundamental capitalism: competition. A single-source operator has no incentive to innovate or grow, whereas a healthy market with proper competition breeds new strategies to attract customers.
Look up Sportsbook RI on any app store and you'll quickly find a number of negative reviews. While writing this story, reviews titled "Outdated app, fraudulent state", "Worst Sportsbook Ever", and "Do more with this app" were the latest displayed on Apple's App Store. These poor reviews from constituents reached Senator Frank Ciccone's ear, pushing him to sponsor Bill HB 6048.
The second, maybe less obvious explanation is revenues. Tax revenues from sportsbooks' gross gaming revenues (GGR) have been drying up lately. In March, nearly a million in tax revenues were lost between 2023 and 2025.
| Month | 2023 | 2024 | 2025 |
|---|---|---|---|
| January | $2,634,047 | $2,549,960 (-3%) | $2,588,213 (+1%) |
| Feburary | $1,842,178 | $1,473,055 (-20%) | $1,517,918 (+3%) |
| March | $2,023,969 | $1,397,798 (-30%) | $1,143,651 (-18%) |
That's a stark contrast to other jurisdictions that have seen incredible growth. Maine, for example, which has a similar sports landscape and similar demographics, has nearly doubled its taxable revenue from March 2024 to March 2025. The Pine Tree State also saw record tax revenue in January, with $700,000 pumped into state coffers. That number sounds low, but Maine only has a 10% GGR tax rate.
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Are There Downsides To More Sportsbooks In Rhode Island?
Detractors of opening up Rhode Island's sports gambling economy would point to the growth in problem gambling cases that follow more sportsbooks. Bill HB 6048 makes no stipulation for any dispensation for problem gambling programs.
That could change as the bill weaves through the Rhode Island legislature. Last year, Bill 6348 allowed Bally's land-based casino to offer igaming, which stipulated that $200,000 be paid by the Twin River and Twin River Tiverton Casinos for compulsive and problem gambling and that $50,000 be paid for education and prevention programs. Similar language could be added in Bill 6048 to cover the negative externalities of this new law, should it be approved.
