Arkansas February sports betting handle down but casino revenue rises
States around the country have reported declines as well, according to analysts.
While Arkansas’ sports betting handle fell last month when compared to results from January, casino revenue statewide climbed during the month of February.
The Arkansas Department of Finance and Administration released its monthly figures for February and reported a total February casino handle of more than $633.3m. The state’s casino handle climbed by 5.6% when compared to January’s results.
The Department of Finance and Administration also reported a 9% rise in casino net winnings statewide. Casino revenue during the month of February reached $49.5m.
However, sports betting numbers in February did not follow the same rising trends. Arkansas’ total sports betting handle dropped more than 10 percentage points during the month of February. The state brought in a total sports betting handle of $29.5m.
February sports betting net revenue declined by 40.4% when compared to Arkansas’ January results. Analysts noted the decrease has been a common trend around the county for February.
In a breakdown of the state’s total sports betting handle, 84% was attributed to online betting. Mobile sports betting followed the down trend in February and posted a 4.9% decrease from January’s total.
In February, mobile sports betting generated a handle of nearly $24.9m.
Mobile sports betting revenue fell as well during the month. The state reported a 38% decrease in net earnings in February. Total mobile sports betting revenue reached almost $1.4m.
Sports betting in Arkansas has been legal since November 2018. Since the Supreme Court overturned PASPA in 2018, online gambling is currently available in more than 35 states, with 18 of those allowing for legal online sports wagering.
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