Mobile Betting Taking Off in Arkansas | Arkansas Business News

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Mobile sports betting is still in its infancy in Arkansas, but early returns indicate an appetite for betting on the go.

The Joint Budget Committee of the Arkansas Legislature approved mobile sports wagering through one of the state’s three existing casinos in February 2022. Sports betting in Arkansas casinos was approved by voters in 2018.

Southland Casino Hotel in West Memphis launched mobile betting app Betly in March. Pine Bluff’s Saracen Casino Resort launched his platform Bet Saracen in May, followed by Oak Lawn Racing Casino Resort and Oak Lawn Sports in September.

Mobile sports betting allows you to bet on college and professional sports from your mobile device, laptop or desktop computer from anywhere in the state. Previously, in order for a gambler to place a wager, he had to physically enter one of the state’s casinos.

Saracen has the most mobile success, processing more than $52 million in bets between May and November, according to the state’s Office of Financial Management. This makes him $42 million more than he handles sports betting within the site from January through November.

Southland, which had the state’s first mobile betting app, processed $39 million between March and November, $13 million more than it processed onsite that year. Oak Lawn’s mobile sport handle cost him $5 million for three months of operation. By November he had processed $20 million on the spot.

Southland President and General Manager Osi Imomoh said in an email to Arkansas Business: “After about nine months under our belt, we are experiencing positive growth. To inflate our market with sustainable and loss-making promotions and bonuses that are often associated with out-of-state national brands. It’s growth without

arkansas model

Arkansas’ mobile sports betting model is unique in that it requires 51% of net revenue to be reserved for the casino. National sportsbooks such as FanDuel and DraftKings were against the rule before the Arkansas legislature adopted it in his February.

“We must be the first to recognize that Arkansas has blazed its own trail when it comes to mobile regulation,” said Carlton Saffa, chief market officer at Saracen. “The Arkansas model will prove to be the right model. The state of Arkansas and the Horse Racing Commission believed casinos should take the lead in sports betting.”

Saffa said the usual contracts between casinos and sportsbooks in other states have sportsbooks keeping up to 90% of the revenue. That makes casinos a taciturn, minority partner, Saffa said.

“If your name is on something but you only get 5% to 15% of what it produces, it’s hard to believe it’s really yours,” Saffa said. “Arkansas did something smart”

Saffa said that by keeping more money local, the Arkansas model would bring in more jobs and more tax revenue for the state. Keeping jobs, taxes, and income local.

“If you create an environment for outsourcing sports betting to third parties, very few jobs will be created,” Saffa said. “If you are promoting to the point where your business is no longer sustainable, there will be no tax.”

bright future

The early numbers are promising, but casino officials need to get even more enthusiastic about where the numbers will go once mobile sports betting gains a foothold.

Mobile sports betting is active in 23 states and the District of Columbia, with three more states coming soon. The American Gaming Association estimates that Americans bet more than $63 billion on sports on unregulated sites compared to his $100 billion on legal sites.

“Mobile sports betting has only been in place in Arkansas for four to six months, so we believe there is room for growth,” said Wayne Smith, General Manager of Oak Lawn. “It will take him two to four years before the state peaks, as we found out on the Oak Lawn Anywhere horse racing app.”

All three of Arkansas’ casinos (with a fourth eventually set to open in Pope County) have expanded or announced plans to expand their gaming and hotel facilities. The beauty of mobile sports betting is that a gambler can access his betting floor from the comfort of his own home.

“We continue to evolve the gaming experience at Betly online as well as at our properties by tailoring all our products to Southland customers, expanding our casino, adding hotels and other amenities. All of this brings revenue to Arkansas,” said Imomo.

Saffa said the advantage of the Saracen casino is its proximity to Little Rock. The company’s gambling his app doesn’t have that advantage.

“Place, place, place still applies to games,” he said. “Our app is as close to everyone in Arkansas as any other, so throw it out the window at the sportsbook. [Northwest Arkansas] It’s a huge and important market for us. We have a huge player in Southwest Arkansas with a large presence in the Jonesboro market. It doesn’t matter where the player is. It doesn’t matter where we are. ”

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