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Betting.net / Mobile Sports Betting Could be Coming to Arkansas Just in Time for March Madness

Mobile Sports Betting Could be Coming to Arkansas Just in Time for March Madness

Publish Date: February 18, 2022
Fact checked by: Jesse M Cox

Players in Arkansas have been limited to just retail betting for the last two and a half years. But now, mobile sports betting legislation in Arkansas has finally begun to move forward. Following a two-and-a-half-year stint of retail betting in Arkansas, players are more than ready to gain access to sports betting on mobile.

Mobile Sports Betting in Arkansas

Likewise, operators are keen to expand their services and welcome players from within Arkansas. And with a straightforward voice vote in our legal gaming news, we can finally say that mobile sports betting is going to be legal in Arkansas.

The states subcommittee has officially approved the proposed rules. As a result, mobile sports betting could be here in time for March Madness. The only barrier now is further approval of the rules being proposed to the Joint Budget Committee. This is the final step in the process to add Arkansas to the list of states in the USA with legal mobile sports betting markets. Following the approval of rule changes to the Arkansas Racing Commission, new rules would come into effect after 10 days.

Could mobile sports betting be a reality in time for March Madness?

The Joint Budget Committee and the state Department of Finance and Administration have plenty of time to allow for legal mobile sports betting to be a reality by March 13, 2022. This is the starting date of March Madness which is one of the biggest and most prominent events in all of sports and betting. And we’re sure that betting fans in Arkansas are keen to place mobile bets on one of the biggest NCAA Division I men’s basketball tournaments.

Furthermore, the filing period could very possibly expire before March 9, 2022. If this is the case, betting fans in Arkansas will be able to place mobile sports bets on the men’s SEC Tournament too. With all of this anticipation in the air, there’s a significant interest in betting on college basketball right now – especially considering the state is home to the Arkansas Razorbacks. Residents in the state of Arkansas are enthusiastic to support the nationally-ranked Razorbacks in this year’s March Madness event. Currently, the Arkansas Razorbacks are no. 18 in the nation and they’re on track to be one of the biggest teams to watch out for in March Madness.

The 51% rule that allows Arkansas State to keep 51% of the revenue

The essential component of the new rules is a 51% sharing structure imposed by the state. Basically, this rule requires new online bookmakers in Arkansas to collaborate with one of the three land-based casino establishments in Arkansas. Currently, there are no online casinos in Arkansas. Instead, the three casinos are brick and mortar establishments. These are Saracen located in Pine Bluff, Oaklawn located in Hot Springs, and Southland located in West Memphis.

The partner casino will receive 51% of the revenue. With this in mind, top operators like DraftKings and FanDuel could decide that operations in Arkansas are inhospitable. As a result, this could pave the way for smaller operators to enter the market. In comparison to other legal mobile sports betting states in the US, a 51% revenue share is quite steep. For example, the typical revenue share in neighboring states is just 15%.

Sports betting is just getting started in Arkansas

The approval of mobile sports betting sites in the state of Arkansas is following in the footsteps of the two neighboring states that have recently given the green light. This is Louisiana and Tennessee. States with existing mobile sports betting markets normally generate over 90% of activity through online/mobile platforms. During the last two years, Arkansas sportsbooks have generated $112 million in total sports betting handle. This has given them a total of around $14 million in revenue throughout the last two-and-a-half years. Following the approval of mobile sports betting, there’s no doubt that this will supercharge those numbers.

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