The Arkansas Racing Commission (ARC) approved changes to the state's gambling rules, a unanimous decision. These changes will allow mobile sports betting through local casinos and will include granting established casinos 51% of the proceeds when partnering with online bookmakers.
The 51% split with established and licensed casinos sets Arkansas apart from the rest of the nation, where the average share is 5% to 15% with local casinos.
Rule changes must now be approved by the Arkansas Legislative Council (ALC), which is scheduled to meet January 28.
"Whether this item makes the January agenda is yet to be determined," Racing Commission spokesman Scott Hardin said after the meeting. "If ALC approves, the rule changes allowing mobile sports betting would be effective immediately."
John Burris with the Capitol Advisors Group, who represents online sports betting operators DraftKings Inc., FanDuel Inc., BetMGM, Fanatics and Bally's, said Capital Advisors was excited after the announcement that sports betting would be allowed in Arkansas.
"We think it's a great opportunity. I think if I had one point, it would be that it's not us versus them. Us being sports betting and them being the three in-state casinos," Burris said. "I think that perception has developed, but it's really not the case. We view it as an opportunity to bring to a marketplace through the casinos revenue and a player who is generally being unregulated and utilized now."
Still, Burris asked commissioners to amend the rule to allow for the sports betting companies to negotiate the split directly with the casinos. This would give the casinos complete control to accept or reject the offer.
"We're asking the rule and government not to put restrictions that prevent this from being an open and competitive marketplace," Burris said.
