Arkansas Mulls Online Sportsbook Licensing as Local Betting Industry Thrives
Last updated on November 21st, 2021 at 06:37 am
The Arkansas online sportsbook industry had a good month with sports betting in October, earning the biggest monthly total sports betting record since the pandemic started. There are currently three sportsbooks operating in retail casinos in Arkansas. All three have a total handle of $6.56 million. This is 65.7% higher than that of September’s $3.96 total sports betting handle. The numbers are good, considering that there is no room, as of yet, for any online sportsbook in the state.
Currently, there are no online sportsbooks in the state. But this is a matter that the local legislature wishes to change soon. Seeing how lucrative sports betting is in neighboring states in the south, Arkansas can expand their sports betting industry by adding more platforms for people to bet on. For instance, Tennessee has a successful online-only sports betting market. Louisiana will also be following soon with online sports betting next year. This will be in addition to retail sportsbooks currently operating in the state.
Arkansas Online Sportsbook Licensing Timeline
The Racing Commission is set to vote today regarding online posting of the proposed rule change for sports betting. This rule change will enable online sports betting services to be available in the state. Many sportsbook pay per head businesses are already operating and earning quite a lot across the country, and Arkansas can stand to earn more if they were to allow similar operations in the state.
A pay per head bookie service aims to give both bookies and players a safe and easy way to view odds and place bets. Arkansas could allow online sports betting that will enable residents to vote from the comfort of their homes instead of driving to the nearest casino. The rule change proposal will be online for 30 days, then will be put to vote in December. After some fine-tuning, industry experts see a possible launch for Arkansas online sportsbooks by January or February next year.
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