Arkansas has seen its legalized sports betting market grow since the introduction of mobile wagering, with the Department of Finance and Administration‘s latest numbers for the region pointing in that direction. In June, the state reported a monthly handle record of $12 million, an average of $400K a day. More than 75% of that total was wagered on mobile apps.
Scott Hardin, a Spokesperson for the Department of Finance and Administration, said in a statement that “we assumed the state would see record amounts wagered on sports with the introduction of the mobile option. When football season arrives, it will be surprising if we don’t see this record broken.”
Arkansas debuted online sports betting in early March, through West Memphis gaming facility Southland Casino Racing. The venue has launched its Betly sportsbook product, which became the first available in the state.
BetSaracen, the online mobile sportsbook product of Saracen Casino Resort in Pine Bluff, followed in May. For the product, Saracen Casino Resort partnered with sports betting platform provider Amelco UK.
Hot Springs-based Oaklawn Racing Casino Resort is also working to have its mobile platform available to the public, most likely in the coming months. The casino took a “more conservative approach,” as it waited for the Legislature for final approval before starting work with its vendor to get the platform ready.
BetSaracen
The mobile betting expansion, which has already proven popular, is also expected to allow Arkansas to catch up with regional rivals. Tennessee greenlighted mobile sports wagering in 2020, while Louisiana launched on January 28. Neighboring Mississippi allows mobile sports betting only on casino property, although bills have attempted to expand this practice statewide.
While casinos in the Natural State have the ability to partner with third-party betting platforms such as market giants FanDuel or DraftKings, Arkansans are unlikely to see apps from these brands, at least in the immediate future – and recent launches confirm this.
This is due to a provision in the rules that grants Arkansas casinos more than half of the mobile sports betting proceeds when partnering with these operators. The 51% rate is well above the average 5%-15% share with local casinos in the rest of the country, making it less attractive for heavyweight operators to enter the market.
Original article: https://www.yogonet.com/international/news/2022/07/22/63548-arkansas-sports-betting-handle-breaks-new-record-in-june-at–12m–driven-by-recent-online-legalization
