Final hurdle cleared for mobile sports betting in Arkansas
Companies and officials are hoping to have sports betting live in time for March Madness.
The path is clearing for Arkansas to offer mobile sports betting after a joint budget committee gave the motion the go-ahead.
With this approval, mobile betting could be live as early as March 4. The state government, casinos and gambling companies are keen to cash in on March Madness, easily one of the busiest betting events of the year.
The provision authorized by the joint budget committee grants local casinos 51% of the profits if they are partnering with nationally recognized mobile sportsbooks.
Until this point, all legal sports betting in the state had happened at the retail level, in the state’s casinos. With the incoming rules, casinos are working hard to ensure that they have mobile platforms available to their customers.
In comments to CBS KFSM-TV out of Fort Smith, Arkansas, Oaklawn Casino’s general manager Wayne Smith said the following: “Oaklawn will work diligently to have our mobile platform to the public within the next quarter or so. We took a more conservative approach and waited for the Racing Commission and the legislature to give their approval before we started working with our vendor GAN to get our mobile platform ready.
“Our mobile platform will mirror the same wagering menu Oaklawn offers its guests on the property which rivals any national brand’s menu out today. Oaklawn Sports will be the brand Arkansas trust just like we are today with Oaklawn Anywhere.”
Sports betting is undeniably undergoing growth in the so-called Land of Opportunity. According to the Arkansas Racing Commission, the state’s handle in 2020 was $33m. By 2021, it had more than doubled to $68m. The incoming rules on mobile betting have raised estimates and the Commission expects the handle to triple or quadruple upon legalization.
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