Mobile sports betting in Arkansas is expected to generate more than $500 million this year. Here, let's take a closer look at the reasons behind the significant growth.
LITTLE ROCK, Ark. — Sports betting in Arkansas is on track to generate more than $500 million this year.
This is up from $404 million in 2023.
“Arkansans spend an average of about $1.55 million a day on the sport,” said Scott Hardin, a spokesman for the horse racing commission.
This average is across the three casino apps in our state.
Hardin explained why mobile betting is behind the increase in sports betting value from $400 million to at least $500 million.
In 2023, Arkansas will collect about $5 million in taxes, which Hardin said will benefit the state in several different ways.
“The state receives a significant portion of it. The cities and counties that are home to these casinos receive a significant portion of it. And then finally, in the actual wallet, there's the horse racing fund. So Oaklawn 's wallet has actually increased as a result of state revenue,'' he explained.
Although we have seen the success of mobile betting, Hardin emphasized that it is a highly regulated industry.
“We want Arkansans to understand that the only way to legally wager on sports in the state is through an in-state casino or an app. No other option is legal.” said.
Saracen Casino's Carlton Safa echoed the same message, saying it's part of the reason why Saracen wants to launch the 'IGaming' app to bring casino games straight to your phone in a legal way.
“We believe that allowing licensed and regulated casinos to engage in the same business will not really change anything. Online gaming will continue to take place, but the state will generate revenue.” explained Safa.
Sports betting is the second most important part of Saracens' business, and Mr Safa said he would like to add casino games to mobile phones in the future.
“All we ask is that other establishments offering slots and other forms of table games be considered as an alternative to the illegal offshore sportsbooks and casino operators that unfortunately are flooding into our state.” he said.
Safa said the decision to allow “I-Gaming” is ultimately up to the Horse Racing Commission, and for now Saracen is patiently waiting for the commission to be ready to have that discussion.
