Arkansas Lawmakers Approve Mobile Betting Ahead of March Madness

The Joint Budget Committee approved the legislation on Tuesday to legalize mobile sports betting in Arkansas. 

https://twitter.com/ButlerBets/status/1496139065950937095

According to Carlton Saffa, mobile betting applications could begin rolling out as early as March 4, 2022, which would be in time for the state to capitalize on NCAA March Madness. 

Saffa serves as the Chief Market Officer for Saracen Casino Resort, and noted Saracen has already spent “in the six figures” to develop its mobile betting app. A “seven-figure marketing campaign” will accompany the investment.   

See also: Arkansas Vote on Mobile Sports Betting Delayed

There is a 10-day filing period before mobile sports betting can begin. 

Casinos were hopeful mobile sports betting would be legalized ahead of Super Bowl LVI. Still, national sportsbooks balked at the proposed profit-sharing of 51 percent of net revenue remaining with the casinos. 

The books, such as DraftKings and FanDuel, argued profit-sharing should be negotiated between vendors and casinos and not mandated by the state.

Because of the revenue-sharing rule, sports betting reporter Bennett Conlin of SportsHandle.com posits:

“Given the revenue-sharing rule, which national operators frequently spoke out against during the rule-approval process, it’s likely that some national operators will stay out of Arkansas for now. Each Arkansas retail casino — there are currently three in operation with potential for a fourth to soon be built in the state — is allowed two mobile skins. Don’t expect major operators like BetMGM, DraftKings, or FanDuel to enter the Arkansas market in the coming weeks.”

See also: Hopeful Arkansas Bettors Will Wait Again

Without profit-sharing adjustments, national sportsbooks may opt-out of Arkansas mobile betting opportunities for the foreseeable future, so it will be interesting to see how casino-branded mobile sportsbooks fare. 

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