Arkansas sports betting poised to exceed $500 million in 2024

2024-04-30

United States

Reading time 1:23 min

Arkansas mobile sports betting is projected to surpass $500 million in 2024, marking a significant increase from the $404 million recorded in the previous year.

According to Scott Hardin, spokesperson for the Racing Commission, Arkansans are averaging about $1.55 million per day on sports betting through the state's three casino apps. The rise in mobile betting has been a key factor driving the growth from $400 million to the projected $500 million in sports wagers.

In 2023, Arkansas collected about $5 million in taxes from sports betting, benefiting the state, local cities, counties hosting the casinos, and the horse racing industry.

"The state gets a healthy portion of it. The city and county that are home to these casinos get a significant portion of that. And then lastly, there's a horse racing fund on the live purse. So the purses at Oaklawn actually increased as a result of the state revenue," Hardin explained, as reported by THV11.

However, Hardin emphasized the stringent regulations governing the industry, stressing that legal sports wagers in Arkansas can only be placed at state-licensed casinos or through their apps. Any other means of sports betting are considered illegal.

Carlton Saffa, representing Saracen Casino, echoed the importance of legal, regulated gambling options. Saracen aims to introduce an iGaming app to offer casino games legally on mobile devices, providing an alternative to illegal offshore operators.

"We believe that allowing licensed, regulated casinos to engage in the same business will not really change anything, there will still be online gaming occurring, but the state will generate revenue," Saffa said.

Sports betting constitutes a significant portion of Saracen's business, and Saffa expressed hopes to expand offerings to include casino games on phones in the future. "All that we would ask would be for the other properties that we offer slots and other forms of table games to be considered as an alternative to the illegal offshore sports books and casino operators that unfortunately are swarming our state," he said.

The decision to permit iGaming rests with the Arkansas Racing Commission, and Saracen is awaiting the opportunity to discuss this with regulators.